A bulk cargo handling terminal at Visakhapatnam Port Trust (VPT) run by an Indo-French joint venture has been allowed to handle 10 more cargo items than the four it was originally built to serve, triggering demands for similar treatment from others. The Tariff Authority for Major Ports or TAMP has notified the rates for handling the 10 extra cargo items at the West Quay Multiport Private Limited run by Mumbai-listed Starlog Enterprises Ltd and French shipping firm Louis Dreyfus Armateurs S.A. at the WQ-6 berth of VPT. The terminal operator’s request to set rates for handling the extra cargo was cleared by TAMP on an application filed by VPT. VPT said its decision conforms to the concession agreement and was aimed at improving the capacity utilisation of the WQ-6 terminal in the interest of business and to avoid the investment made for the development of the facility infructuous and the amount lent by banks becoming non-performing asset (NPA). TAMP said that the handling charge approved by it for the 10 additional cargoes will automatically cease to apply after the project facility reaches a level of 75 per cent of optimal capacity of 20.87 lakh tonnes for two consecutive years and which shall be subject to review by VPT on completion of 5 years from the scheduled project completion date.
Starlog-Louis Dreyfus JV terminal allowed to handle 10 more cargo items at Vizag Port Trust
