According to Rajesh MK, owner of Consolidated Shipping Agency, a small-sized shipping agency based in Kochi, “The ICTT was intended to cut down on transhipment of cargos to neighbouring countries, but due to its internal conflicts, the transhipment hub not yet being able to realise its full potential. There have been a lot of speculation on the rates charged at the ICTT and now it needs mediation by higher authorities than the Cochin Port Trust (CPT) authorities.”
Vinod Nyer, area manager of Hingh Shipping Agency, a small-sized shipping firm in Mangalore, opines, “If and when the operations commence at the ICTT fully, it will help reduce the count on days required to export and import consignments by as much as seven. Besides, it would also help cut down on transportation cost of each container.” The amount to which the cost could vary would be around Rs 14,903.95. This would certainly be a momentous impetus to international Indian trade, making it more competitive.
ICTT will reduce transportation cost
The PM has instructed various departments to make sure that procedural issues do not emerge to be the reason for upsetting the prospects of the ICTT’s lucrative future.
The PM has also asked the Department of Commerce and Ministry of Shipping, among others, to ensure that operations at the first container freight station (CFS) at the Vallarpadam ICTT commence by March 1, 2012, followed closely by the three other proposed CFSs.
The PM’s views were put forth at a meeting chaired by the PM’s principal secretary and attended by officials from various departments.
Priyanka Roy Chowdhury |
.jpg)
Ever since India’s first International Container Transshipment Terminal (ICTT) at Vallarpadam, near the Kochi port, started operations in early 2011, things have not entirely moved in its favour to emerge into a global cargo hub. Almost a year later, Prime Minister Dr Manmohan Singh has intervened to uplift condition of the Rs 3,200-crore transhipment facility. 
