The economic turmoil in Colombo and the recent developments of shipping lines skipping the Colombo port have opened up new opportunities that can catapult ports in south India to a faster pace of growth if tapped at the right time, according to experts in the shipping sector. It is time for the sector here to quickly grab the window of opportunities which will often be short, according to them.
Speaking to The Hindu, K. Mohandas, former Union Shipping Secretary, said “there should not be any delay in enticing mainland shipping lines to the southern coast, tapping into the fear of exporters and importers. India’s exporters and importers have been routing around 3 million twenty-foot equivalent units (TEUs) a year through Colombo and other ports outside the country. At least, half of this can be brought back to the Indian shores if policy-level interventions are made at the right time,” said Mr. Mohandas.
Vizhinjam, the best bet
In fact, the under-construction Vizhinjam port is touted as India’s best bet to counter Colombo, but the work on the port can be completed only by 2024 given the current pace. “So we should focus more on ports in the Chennai cluster like Kamarajar Port Limited, Kattupalli Shipyard, Jawaharlal Nehru Port Trust, and the Cochin port to take advantage of the situation,” said Mr. Mohandas, adding that the deep draft in ports and competitive rates were the key points in controlling the port business.
Only a few ports in the south have the required draft to meet the global cargo handling standards and operate as a transshipment hub. Minister for Ports Ahammad Devarkovil said it’s a great opportunity for the ports in Kerala. The transshipment volume in Cochin port has increased to 86,761 TEUs in 2020-21 from 36,183 TEUs in 2019-20, a growth of 140%.
Directive to speed up
“We have directed Adani Ports and Special Economic Zone Ltd. to complete the work on one wharf of the Vizhinjam International Transshipment Deepwater Multi-purpose Seaport by this year which would enable the State to take some early advantage in the current milieu, along with speeding up the remaining work,” said Mr. Devarkovil.
Further, the 150-odd traders who recently took part in the investors’ meet conducted by the port evinced interest in boosting the maritime trade through the ports in Kerala, said Mr. Devarkovil.
