Mumbai to Maintain Rates through July

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Apr 2009

India’s port regulator, the Tariff Authority for Major Ports, postponed a decision on a rate proposal for the Port of Mumbai until July 31. The port will be allowed to levy its existing scale of rates until then. The interim ruling comes after the port trust filed its proposal for a 30-percent increase in rates, as part of a general tariff revision.
"The consultation process on the Mumbai Port proposal is on and it will take some more time for the case to mature for final consideration by this Authority," the regulator stated.
The authority in January 2006 implemented a tariff hike at the west coast port, raising cargo-related charges by 25 percent and vessel-related charges by 8 percent, for a three-year period.
Mumbai, a major cargo hub, handled 51.9 million tons of cargo in fiscal 2008-09 ended March 31, while container volume totaled 92,000 TEUs, down from 118,000 TEUs in 2007-08.
The port recently awarded a $300-million contract to develop a new box facility through private participation. Expected to be ready by 2010, the project will enable it to handle 6,000-TEU vessels and compete with the neighboring Port of Jawaharlal Nehru, the country's main container gateway.

Source: Journal of Commerce