Cochin port mulls cut in maritime charges

Cochin Port Trust has sought the views of members of its Board of Trustees on a request from India Gateway Terminals Ltd (IGTL) to urgently consider a reduction in maritime charges and relaxation of the Cabotage Law to make the operations of the International Container Transhipment Terminal (ICTT), scheduled for commissioning in June, more competitive, reported The Hindu.

Sources in the port said that IGTL had sought urgent action from the port authorities to help the proposed ICTT operate as a transhipment hub rather than as a feeder port for Colombo.

The establishment of ICTT would entirely transform Kochi but it had to be competitive vis-à-vis ports such as Colombo, offering an advantage to its customers.

Besides natural depth and proximity to international maritime routes, what brings business to a transhipment hub is a competitive rate.

According to estimates, container traffic through Indian ports is rising rapidly and by 2013-14, the total is expected to go up to 12.4 million TEUs from 3.71 million TEUs in 2003-04.

(Source: Cargo News Asia)