A panel of trade union leaders requested the visiting Shipping Minister to sanction Rs 450 crore as a viability gap funding to Kochi port considering the precarious financial position being confronted by the port in the recent period.

In a memorandum submitted to the Minister, the trade union leaders pointed out that the unaffordable dredging expenditure has led to the financial crisis and the Government should grant permission for the procurement of sufficient cranes, fork lifts, reach-stackers and also dredgers for the survival of the port.

They said that it was hardly bearable for the port to expend annual recurring cost of nearly Rs 120 crore for maintenance dredging of the channel and berth basins of Vallarpadam.

The unions also demanded the licence agreement made by the port with DP World to construct ICTT shall be reviewed and an impartial enquiry may be ordered to find out the lapses in the agreement.

The Cochin Port Labour Union asked the Government to strictly enforce the Cabotage Law for attracting transhipment traffic to ICTT and direct call ship to other Indian ports.

The best course open for India is to enforce Cabotage Law for trade between Indian ports and Colombo so that ICTT and other Indian ports would have direct access to global shipping service.

This would result in more revenue to the port and more traffic to ICTT.

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