Maritime News

South Indian transhipment terminal beneficial to Lanka

Mohammed Sharaf, Chief Executive Officer of DP World, has said that creating a transhipment facility such as international container transhipment terminal (ICTT) at Vallarpadam will definitely benefit the growing trade in South India.

Close to 60 per cent of the trade volumes generated out of south India get transhipped on to mainline vessels calling at hub ports such as Colombo and Kochi is strategically placed in terms of geography for quick access to the major trade routes, he said at an interaction with media persons.

Sharaf, who was here in connection with a visit to the Indian sub-continent region, said that the emergence of ICTT at Vallarpadam, the first of its scale and kind within India, will play a key role in making Kochi a strategic port location to the shipping community.

Indian subcontinent region is one of DP World's strong propellers of growth in the future and the company is committed to making ICTT a key catalyst of future trade in India, he said. Being adjacent to main east-west sea trade route, he said ICTT will assist the shipping world by reducing India's dependence on foreign ports for transhipment thereby reducing overall costs.

Sharaf also clarified that there will not be any delay in commissioning of the project on account of the economic slowdown and the construction of the Phase I A (600 metres of quay length being developed) will be completed by end 2009.

The work at the site is going on at a hectic pace to meet the time schedule. Work on the rail connectivity has also commenced where ICTT is going to be connected to the mainland by one of the longest railway bridge tracks.

One of the strong advantages of ICTT will be the basket of multimodal options available to exporters and importers connecting to the transhipment hub when compared to the current scenario where rail/road transportation is not an option, he said.

Some of the major global container shipping lines have shown keen interest in having their services call at ICTT.

However, he declined to divulge the names of those shipping lines that have agreed to commence their voyage. The company is also looking at starting supporting business such as container rail service once the Vallarpadam project is fully developed.

He pointed out that there are plans to start train service from Vallarpadam to various ports in the country as part of the company's long-term strategy.

Colombo Dockyard hits record profit

Hiran H. Senewiratne

Colombo Dockyard Limited (CDL), recorded a net profit for the September quarter grew seven percent to Rs. 374 million than the precious year.

The analysts say the CDL's repair work could slow down given the global recession and sharp downturn in the shipping industry where vessel hire and freight rates have crashed.

CDL is Sri Lanka's sole listed shipbuilder which is a stock exchange filing that revenue rose 7.8 percent to Rs. 2,345 million from Rs. 2,176 million over the same period.

The company's September quarter performance pushed up profit for the nine months ending September 30, 2008 by 38 percent to Rs. 1,011 million compared with the same period last year.

The revenue for the first three quarters rose 27.5 percent to Rs. 7,364 million from Rs. 5,777 million in the same period last year.

CDL company's majority stakes owned by Japan's Onomichi Dockyard, books profits on delivery of vessels. Therefore, CDL's June quarter net profit more than doubled to Rs. 393 million. It is also building several vessels for Indian customers and has shifted to specialised vessels like anchor handling tugs in recent years.

Colombo South Port development project launched

Construction of the Colombo South Port which is a leading development project launched by Sri Lanka Ports Authority (SLPA) is currently underway with the right schedules. Infrastructure development for the construction of breakwater of the new port has almost been completed by now.

Currently, dredging for the construction of breakwater is being carried out and further dredging and earth filling for the construction yards facilities to assist the construction of the break water, commenced with the initiative of Minister of Port, Aviation, Irrigation and Water Management Chamal Rajapaksa at the Colombo South port.

Hyundai Company has utilised a dredger of 27,000 cubic metres for the dredging and it is the world's third biggest Trailer Suction Hopper dredger used in these types of activities.

Minister also held discussions with the officers of the Hyundai Company and the Chairman of SLPA Dr. Priyath Bandu Wickrama about the progress of the Colombo South Port Development Project and also made an inspection tour of the site.

The Minister also instructed to carry out constructions of the project without interruption.

Managing Director of SLPA Capt. Nihal Keppetipola, Director of the Colombo South Port Development Project, Chief Engineer Janaka Kurukulasooriya also participated.

Largest maritime conference next year

The largest annual Container Ports, Shipping and Logistics Exhibition and Conference in Southern Asia - Southern Asia Ports, Logistics and Shipping - will take place next year in dynamic India - for the first time - at Chennai next year.

A two day Conference Programme will feature 35 world-class international business leaders who will analyse latest global transport and logistics developments in Southern Asia and the impact on global shipping and trade.

Next year's 'biggest ever' event will be attended by a gathering of 500 senior executive attendees from over 20 countries consisting of the world's leading shipping lines, shippers, cargo owners, importers/expo-rters, freight forwarders, logistics companies, container ports, container terminal operating companies, port equipment and services suppliers.

There will be a concurrent two days Exhibition of 60 international companies and sponsors showcasing latest container handling technology and services.

We look forward to the pleasure of your valued company in the beautiful and historical maritime city of Chennai for what will be a most rewarding and enjoyable two days international container ports, shipping and logistics Exhibition and Conference.