The importance of the east coast is growing in recent years and the cargo traffic from eastern ports is likely to grow by 8-9 per cent in the next few years, according to Ajeya Kallam, Chairman of the Visakhapatnam port.
He told reporters here on Monday that Maritime Gateway, a Hyderabad-based magazine, was organising East Coast Maritime Business summit during September 21-22.
He said for long, India’s east coast had lagged behind the west in terms of cargo movement. “Of the total cargo, 75 per cent is being routed through western ports and the rest through the eastern. But, according to a study by Ernst & Young, by 2014, the cargo from the eastern port would grow to 34 per cent and there would be a corresponding decline in cargo from the western ports,” he said.
As trade with China and other East Asian countries was on the rise, it had become possible. The cargo shift would spur the development of not just port and allied infrastructure on the east coast, but also that of special export zones and the industry in general.
Therefore, he said, the summit assumed great significance.
Sriram Ravi Chander, Chief Operating Officer of the Visakhapatnam container terminal, said the growth of ports on the east coast was also driven by the increased demand for coal for a large number of power projects coming up in the area.
Container cargo would also grow substantially in the years to come.
Ramprasad, editor and publisher of Maritime Gateway, said the summit would highlight the potential of ports and terminals on the East Coast.
The summit will have 30 speakers representing all stakeholders of the maritime community in the region.
It will also be attended by over 250 delegates from South-East Asia.