Barge,Goa

The barging industry in Goa, till recently the envy of other waterways for the success it achieved in transportation of record volume of iron ore for exports, is ailing and in dire straits.
According to Goa Barge Owners’ Association (GBOA), more than 90% the barge owners, who owe banks an outstanding loan of Rs 800-1000 crore that they availed for buying barges during boom times, have turned defaulters as they have failed to pay the November and December 2011 installments.
"The barge owners are facing severe financial crisis as their business is going through the worst man-made crisis due to closure of several mines and imposition of mining quotas by the environment committee of the government. As there is a glut of barges in the market amidst non availability of business, the situation is getting from bad to worse for barge owners,"