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Vizhinjam Seaport (Thiruvananthapuram), India’s first Deepwater Container Transshipment Port, is an ambitious project of Kerala government.
- The port is being currently developed in landlord model with a Public Private Partnership component on a Design, Build, Finance, Operate and Transfer (“DBFOT”) basis.
- Under landlord model, port authority acts as regulatory body and as landlord, while port operations (especially cargo handling) are carried out by private companies (Adani Vizhinjam Port Pvt Ltd in this case).
Transshipment Hub
- Transhipment hubs are ports that have connections to originating and destination ports and are used as intermediate port for cargo transfer.
- Nearly 75% of India’s Transshipment cargo is handled at ports outside India.
- The Ports of Colombo, Singapore, and Klang handle more than 85% of this cargo.
Significance of India as a Transshipment Hub
- Address the potential revenue losses for Major ports ($200-220 Million) in transshipment handling and increase port activity.
- Savings of foreign exchange reserves and attracting foreign direct investment.
- Development of related logistics infrastructure and employment generation.
- Growth of allied businesses such as ship repair, warehousing, bunkering etc.
Other Initiatives taken to develop Transshipment hubs in India
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