DP World records 36% growth at ICTT Cochin

Mumbai: Global logistics services provider DP World's International Container Transshipment Terminal (ICTT) at Cochin logged a 36 per cent growth in throughput at 70,000 TEUs (twenty-foot equivalent units) on a year-on-year basis in January 2021.

The terminal provides connectivity to hinterland through multimodal transportation including rail and inland waterways. DP World Cochin offers various direct connections to Europe, the Mediterranean, the Far-East, South East Asia and the Middle East, thereby, providing reduced transit time, cost and reliable reach to global markets, the company said in a release.

ICTT Cochin, the country's first transshipment hub strategically located in close proximity to major global east-west trade routes, has completed 10 years and this milestone comes with the terminal achieving its all-time highest monthly throughput of more than 70,000 TEUs in January 2021, registering a 36 per cent growth over January 2020, the release stated.

"ICTT is a key example of DP World's commitment to India's trade growth. The terminal has played a crucial role in boosting trade from South India. It has implemented various initiatives to enhance trade and facilitate ease of doing business," said Praveen Joseph, CEO, DP World Cochin. The initiatives include RFID-based automated gates to enhance safety and efficiency, introduction of an inhouse developed terminal operating system to enhance terminal efficiency besides providing 24x7 Customs facility for direct port delivery, he said.

Besides, the implementation of Bharat Trade for paperless transactions has resulted in conversion of 50 per cent of manual gate transactions onto a digital platform, Joseph added. "Our focus continues to be on facilitating tailor-made solutions that deliver exponential value to our customers and trade at large," he said. Since its inception, the terminal has handled 4.68 million TEUs and 5,661 vessel calls including 1,858 mainline vessel calls, DP World said, adding in 2020, despite major business disruptions, ICTT handled 6.31 lakh TEUs, registering marginal decline of 0.35 per cent over 2019 volumes while South India market collectively registered an average degrowth of 11.2 per cent, it said.

During the previous year, the Terminal also launched a direct weekly rail connection to Bangalore, which increased the rail volumes five-fold, it said. In 2020, the terminal handled 42 per cent of EXIM cargo on mainline vessels. The terminal continues to be highly efficient and productive with truck turnaround time at an average of 27 minutes, and an average Gross Crane Rate (GCR) of 30+ moves per hour, which is at par with global standards, as per the release.