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The Kochi Port has extended for one more year the concession on vessel related charges to ships calling at ICTT Vallarpadam.
The Board of Trustees which met here had approved the proposal to renew the extension that expired in September.
The concessions being extended include a special tariff in vessel-related charges matching that of Colombo port for mainline vessels with international ports of call in the Americas, Europe, Africa, Australia and any port of China.
The concession extended is up to 86 per cent of the prescribed tariff for a mainline vessel of 60,000 GRT with 12 hours of stay at the port.
This is an attractive rate to make Kochi a transhipment hub in South Asia. There will also be a 30 per cent concession on vessel-related charges for feeder vessels because of the high rates in Kochi compared to neighbouring ports in the country, senior port officials said.
According to officials, there will also be 50 per cent concession in vessel-related charges for container vessel services with a minimum of two sailings from Kochi to West Asia and South East Asia in a period of 30 days, subject to the condition that not more than 20 per cent of the cargo loaded from ICTT was headed for Colombo.
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