THE Port of Mumbai posted a 12.7 per cent decline in November container traffic year on year despite an 3.4 per cent increase in overall tonnage in the same period.

    In the first eight months of fiscal 2012 starting in April, the port's container volume fell 17.5 per cent as overall tonnage fell 1.6 per cent during the same period year on year.

    India's Tariff Authority for Major Ports has approved a tariff increase for Mumbai over customer objections. Taking effect on December 21, it involves a 30 per cent increase in cargo related charges and a 23 per cent hike in marine dues.

    The increase, which will substantially push up vessel operating costs, noted Newark's Journal of Commerce, is expected to make it harder for the new customers, particularly major liner calls to increase throughput.

(Source:shippingazette)