Kochi to get India's first transshipment hub, facility for big ships
The opening of India's first transshipment hub at Kochi on Friday will allow large ships and vessels to berth, refuel, offload and upload cargo, before taking off to different destination across the world.business Updated: Feb 10, 2011 21:00 IST
The opening of India's first transshipment hub at Kochi on Friday will allow large ships and vessels to berth, refuel, offload and upload cargo, before taking off to different destination across the world.
With Kochi being on the international sea-route, the hub will help in improving traffic significantly, especially those who are moving from East Asia to Europe.
The entire cargos which are getting offloaded or uploaded at the neighbouring transshipment hub in Colombo will now be possible in India.
"This will save cost and time substantially in transportation of containers related to export and import, as the entire business India had to conduct at Colombo hub, would now take place here," said secretary, ministry of shipping, K Mohandas.
A transshipment hub is the zone from where shipment of goods or containers takes place to an intermediate destination, and then from there to yet another destination.
The hub at Kochi is a public private partnership (PPP) project, in which the private promoter Dubai-based DP World has invested Rs 1,200 crore in the first phase and the government Rs 1551.4 crore for building road, rail and dredging. In the second phase, DP World will invest another Rs 2,118 crore.
Once the Kochi hub gets operational, it will handle 1 million TEU container ships per year in the first phase.
TEU refers to the capacity of container ships and 1 TEU is equal to 20-feet equivalent unit container. The capacity will be enhanced to 3 million TEU.
The hub also has container freight station and a feeder service to other ports.