Cochin port drops rates at ICTT terminal to match rivals

Union government-owned Cochin port has decided to drop its vessel-related charges for ships calling at India’s first international container transhipment terminal (ICTT) to match the rates prevailing at rival ports in South and South-East Asia. DP World Pvt. Ltd, majority owned by the Dubai government, is developing the ICTT at Vallarpadam in Cochin port with a capacity to handle one million standard containers, investing about Rs3,000 crore in the first phase.