Cochin Port take steps to speed up cargo clearance

Cochin Port has taken a slew of measures such as green channel for vehicle tax at Walayar check post and better rail connectivity to speed up cargo clearance and bring down costs for traders, a top official said today.
Addressing exporters and importers at an interactive session at Erode, Cochin Port Trust Chairman In-Charge G Senthilvel said that Cochin provides a savings of seven days in transit time and savings of USD 100 to USD 200 in overall supply chain cost for Europe Bound exports.
The port has direct sailing to Europe, the Mediterranean and the Far East in addition to regular sailings to the Gulf and Colombo, Senthilvel was quoted as saying by the Shipping Ministry in a release.

The port, one of the 12 major ports in the country, is opening up for investments and has initiated a slew of measures to support exporters from Erode zone, he said.
Speaking about steps taken to speed up clearance process, he said that the Walayar Check Post has introduced a Green Channel for vehicle/sales tax/ excise for EXIM cargo and this has resulted in quick clearance of both customs/excise sealed and self sealed containers at the check post.
Also, the CONCOR has started regular service on every Saturday from Coimbatore to Cochin Port to carry export containers and on every Thursday from Cochin to Coimbatore to transport import containers.

The CONCOR is carrying empty containers from Cochin to Coimbatore free of cost. This provision is making the overall cost much cheaper than before. Coimbatore Inland Container Depot is providing facilities for consolidating LCL cargo from Erode, the release said.

Besides, the statement said Coimbatore Inland Container Depot is providing facilities for consolidating LCL cargo from Erode.
"The industrialists at Erode, especially those in the food processing industry, were enthusiastic about supplies to cruise vessels and other vessels calling at the Cochin Port. The businessmen in the garment and cotton industry have decided to set up stalls during the visit of premium cruise vessels at Cochin Port starting with the visit of 'Ovation of the Seas' on June 1," the statement said.

The government, which owns 100 per cent stake in Cochin Port, plans to divest its 10 per cent stake through IPO and invited from merchant bankers for managing the IPO.
The Initial public offering (IPO) of Cochin Shipyard will be of over 3.39 crore shares. This would include fresh issue of over 2.26 crore shares and government diluting 10 per cent stake or over 1.13 crore shares.