THE Indian Ministry of Ports, Shipping and Waterways (MoPSW) is funding US$38.8 million to deepen the channel of Cochin Port, reports London's Port Technology.
MoPSW has anticipated an increase in transshipment operations at the port following economic and political turmoil and congestion at the Colombo port.
The move to deepen the channel from 14.5 to 18 metres is part of intentions to cut India's dependence on Colombo.
The transshipment volume at the international container transshipment terminal (ICTT) has increased to 13,609 TEU in March 2022 compared to 8,394 TEU the previous year due to the ongoing crisis.
Looking at the future, the port authority plans to deepen the channel to 20 metres.
In addition, the Cochin Port Authority has moved to a cargo-based discount scheme in vessel-related charges for ships calling.
The new discount scheme is aimed at supporting ad-hoc calls.