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September 30, 2023

Cochin Port majorly benefits due to the ongoing crisis in Sri Lanka

By Priti Naik

The ongoing economic and political clashes in Sri Lanka coupled with congestion at the Colombo port has come as a beneficial tool for Kerala. The International Container Transshipment Facility (ICTT), Vallarpadam, Kochi, where the cargo traffic has increased by over 62% in March with the mother vessels calling at Cochin port.

According to the statistics available with the Cochin port, the transshipment volume at the ICTT has increased to 13,609 TEUs (Twenty-foot equivalent unit) in March 2022 compared to 8,394 TEUs in March 2021. Beena, chairperson of the Cochin Port Trust, said that there has been a gradual shift in transshipment volume to Cochin port in recent years especially from the end of 2020. The volume increased to 86,761 TEUs in 2020-21 from 36,183 TEUs handled in 2019-20, a growth of 140%. It increased to a record high of 1,56,159 TEUs in 2021-22, registering a growth of 80% against the previous fiscal. The growth was mainly due to the arrival of new services, apart from some ‘ad-hoc’ vessels calling at the port during this period.

There were reports recently that some shipping lines have started skipping Colombo for reasons beyond port congestion there. The process of shifting the business to another port would take some time due to the existing contract terms of shipping lines and partner alliances with other shipping lines. The current developments in Sri Lanka indicate that the growth path is likely to continue at least this year too, added Ms. Beena.

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