India’s bid to take away transhipment business from established regional leader Sri Lanka is gaining steam.
Cochin Port Authority (CPA) in the far southwest of the country has outlined plans to deepen the channel leading to its International Container Transshipment Terminal (ICTT) from 14.5 m to 16 m in a bid to attract larger ships to call.
Cochin is fighting for box business both from Sri Lanka and Vizhinjam, a nearby port with depths of up to 20 m, set to launch in Q3 this year.
Nearly 75% of India’s transhipped cargo is handled at ports outside India. Colombo, Singapore and Port Klang handle more than 85% of this cargo, something New Delhi is keen to claw back onto home soil as it begins a mammoth period of ports construction over the next decade.
A long-planned mega port got the green light from New Delhi last month, the latest in a series of new terminal announcements. The giant Vadhavan port, located some 125 km north of Mumbai on India’s west coast, has been discussed for more than a decade, but finally, the Narendra Modi administration has approved the huge $9.1bn development.