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Cochin Port to consider cut in Maritime Charges
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3/18/2010 1:40:46 AM
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KOCHI: Cochin Port Trust has sought the views of members of its Board of Trustees on a request from India Gateway Terminals Limited (IGTL) to urgently consider a reduction in maritime charges and relaxation of Cabotage Law to make the operations of the International Container Transhipment Terminal (ICTT), scheduled for commissioning in June, more competitive.
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.
Competitive rate
The establishment of ICTT would entirely transform Kochi but it had to be competitive vis-à-vis ports like Colombo, offering an advantage to its customers, it has been pointed out.
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 twenty-foot equivalent units (TEUs) from 3.71 million TEUs in 2003-04
Courtesy:hindu.com |
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