Major ports lead growth as Middle East tensions, early peak-season shipments and Chinese Golden Week push up global container freight rates
India’s port volumes rose 7 per cent year-on-year in August 2026, even as global container freight rates surged 132 per cent from February levels, according to a Jefferies report.
The brokerage attributed the sharp rise in freight rates to Middle East tensions, early peak-season shipments and front-loading ahead of China’s Golden Week.
Government-owned major ports led the increase, with volumes rising 10 per cent YoY in August. Non-major ports also recorded 11 per cent growth during the month.
The strong performance at ports contrasted with Indian Railways, where container volumes declined 3 per cent YoY in August. Port container volumes, by comparison, increased 10 per cent.
Jefferies said transshipment activity may have supported container traffic at Indian ports, helping the sector maintain growth despite geopolitical disruptions.
Among key cargo categories, iron ore volumes jumped 30 per cent YoY in August, while container volumes rose 10 per cent and coal throughput increased 6 per cent.
Among private port operators, Adani Ports reported a 19 per cent YoY increase in August volumes, with its domestic operations estimated to have grown 10 per cent.
More from BusinessPerformance across non-major ports was mixed.
Odisha ports recorded a 39 per cent rise in volumes, while Gujarat posted 3 per cent growth. Maharashtra ports recovered with an 8 per cent increase after declining in the previous period.
India’s export-import trade increased 18 per cent YoY in August, supporting port activity. Containerisable trade, excluding petroleum, oil, lubricants, gems and jewellery, rose 21 per cent, with exports increasing 23 per cent and imports 20 per cent.
Exports to the US rose 22 per cent YoY, while shipments to the UAE and Saudi Arabia declined by 17-26 per cent, according to the report. Road freight activity also remained firm in early September. Freight tariffs increased 2 per cent month-on-month, supported by higher fuel costs and preparations for seasonal demand.
Meanwhile, registrations of medium and heavy commercial vehicles rose 40 per cent YoY in September so far, pointing to continued momentum in road logistics.
The data suggests that while geopolitical tensions have disrupted some transport channels, India’s broader logistics activity has remained resilient, with ports and road freight continuing to see strong volumes.
