CPT to extend concessional tariff on VRC for a year

Aimed at attracting more container vessels to Kochi, The Cochin Port Trust (CPT) has decided to extend concessional tariff on vessel-related charges (VRC) for one more year, at the International Container Transshipment Terminal (ICTT), Vallarpadam. The decision in this regard was taken at the recently held meeting of the board of trustees.

“The decision to provide concession for one more year move is aimed at facilitating container handling at the ICTT, which has remained almost stagnant in the current year owing to various reasons,” said a member of the board of trustees.

The ICTT, which has a capacity to handle 1 million TEUs annually, handled only 2,71,582 TEUs between April, 2011, to January, 2012, while the volume of containers during the same period in the last financial year was 2,53,646 TEUs.