Financial Daily from THE HINDU group of publications
Thursday, Mar 31, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 31, 2005 |
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Logistics
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Shipping Tuticorin port announces new incentive scheme Our Bureau
Chennai , March 30 THE Tuticorin Port Trust (TPT) has announced a new incentive scheme for fiscal 2005-06 to attract higher volume of cargo and more number of vessels to the port. The port trust will offer 25 per cent wharfage rebate on new cargo, which was not handled during 2004-05. This is subject to the condition that a minimum quantity of 10,000 tonnes is to be handled. PSA-Sical Ltd, the private container terminal operator at the port, is also expected to announce such an incentive by way of concessional levy of handling charges, including wharfage, a TPT press release says. A 50 per cent rebate in wharfage would be allowed on the entire quantity imported through break bulk vessels. The concession already provided for storage of raw cashewnut — increase in the free days from 5 to 10 — would continue until modified by the TPT board. As far as raw cashew in containers is concerned, direct calls by container vessels from Africa would attract marine charges with 10 per cent rebate. This is, however, provided the vessels do not call at Kochi port during the same voyage and at least 80 per cent of the containers carrying raw cashewnut should be bound for Tuticorin port, according to the release. A suitable package may also be evolved by the Tuticorin port for exclusive granite exports to Far East countries if adequate volumes are committed. The port trust may also consider signing an agreement with shippers/consignees to match the cost of handling with neighbouring ports for any cargo. The agreement would cover the incentive package, which could be advantageous to the export-import trade and the port would be assured of incremental volume and revenue. Further, if importers/exporters introduce any new mechanical device to ensure safe and secure handling of cargo and thereby reduce the pollution level, incentives may be considered for them commensurate with the incremental volume and the investment made on such mechanical devices, the release says. The rebates/concessions would be applicable to cargo handled in zone `A' and will be in force up to March 31, 2006, the release says.
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