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V. Sajeev Kumar

Kochi , Feb. 2

THE Cochin Port Trust's board of trustees has objected to the port management's proposal for an overall increase in port tariffs this year.

Members registered a strong protest at the board meeting held on Tuesday, saying the proposed hike in tariffs including cargo-related and vessel-related charges would badly affect the port's image.

The members feared the move could result in diversion of cargo from the port, especially at a time when neighbouring ports were using aggressive marketing strategies to attract more cargo.

The board directed the Chairman to discuss the matter with trade bodies before deciding on rate hikes, port sources said.

For cargo-related charges, the port had proposed 25 per cent increase for container vessels and 33 per cent increase for other vessels.

For vessel-related charges, it had proposed 25 per cent increase for container vessels and 33 per cent increase for other vessels.

The sources said the move to hike vessel-related charges would affect the port's competitiveness vis-à-vis neighbouring ports as well as Colombo port, which is a major competitor to the Vallarpadam Container Transhipment Terminal.

The last upward revision of port tariff was effected in January 1999. Even though the port had proposed an overall hike of 25 per cent in 2004, the move was not approved by the Tariff Authority for Major Ports (TAMP) and the port was asked to continue with existing rates till December 2005.

The TAMP in 2002 had prescribed revision of port tariff every two years, taking into account cost escalation, wage revision etc.

TAMP's revised guidelines in 2005 had increased the periodicity to three years.

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