Kochi port to review rates before commissioning box terminal

As the deadline for the scheduled commissioning of the Vallarpadam International Container Transhipmnt Terminal (ICTT) in June is getting closer, the Kochi port is considering a review of various charges it levies to create a level-playing field for developing the terminal as a transhipment hub, the Hindu Business Line reported.

DP World, which is operating the Rajiv Gandhi Container Terminal, has also requested the port management for urgent relaxation of cabotage law and measures to ensure competitive marine charges so that the new terminal becomes viable as an international transhipment facility rather than acting as a feeder port to Colombo.

A note prepared by the port trust at the recently concluded board meeting pointed out that the emergence of Kochi as a transhipment hub for India and a maritime gateway to South India hinged on the competitive advantages that it can offer to the global container trade.

Currently Dubai, Singapore and Colombo act as transhipment hubs for as much as 80 percent of the India-bound cargo.

(Source: Cargo News Asia)