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ICTT Records Stronger Business Growth in 2015

Dubai Ports-managed Vallarpadam International Container Transshipment Terminal (ICTT) witnessed a boost in business in 2015. The terminal recorded an eight per cent overall increase in throughput last year, compared to five per cent in 2014.

The ICTT also posted a 13 per cent growth in the number of vessels handled, higher than the five per cent increase seen in 2014. The average Gross Crane Rate Per Hours was 30 last year, compared to 27 in 2014.

“In spite of the various challenges faced by the terminal, DP World-Cochin achieved remarkable growth in terms of productivity, number of vessels handled and crane moves per hour, making it the most productive terminal in South India,” said DP World-Cochin CEO Jibu Kurien Itty.

“2015 also saw a number of milestones, including the launch of five new services to increase connectivity to the other crucial hubs worldwide. “The terminal also held important meetings with various boards in order to boost trade, the most successful being the meeting with the Coir Board and exporters of Pollachi,” said Itty. “We will continuously strive to keep the momentum going in 2016. The ICTT handled 64 vessels per month in December, against an average of 43 vessels per month last year, which is an indicator of the things to come this year,” said the CEO.

Feeder Service to Kollam

The ICTT has started a new feeder service connecting Kochi with Kollam. The first vessel under of the new service called at the ICTT on Tuesday. “The new service, which is aimed at boosting cashew trade, will provide connectivity with Kollam,” officials said. This service is expected to benefit customers as cargo landing in Kollam will ensure better visibility and control over inventory, besides saving cost. The service will also help cashew importers from Tamil Nadu, specifically Marthandam, as Kollam is the nearest port for them. Importers are expected to achieve major cost savings when import of raw cashew from West Africa starts by end of the first quarter.

The service will also benefit exporters from South Kerala as they can now have an additional cost effective option for transportation to Kochi. “Developing inland waterways in Kerala is a focus area for the government. The new connectivity is expected to be a small step in the right direction as cashew is one of the major import commodities here,” said officials.
Source: Express News Service

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