TAMP rejects PSA plea for 15pc hike, by slashing terminal rates 12.2pc
2012 04 20
- Details
SINGAPORE's PSA had its Chennai International Terminals (CIT) rates slashed 12.2 per cent by India's port regulator, the Tariff Authority for Major Ports (TAMP), because it said the terminal operator was making too much money.
"According to our analysis an additional surplus of US$17 million will accrue during he tariff cycle if the existing tariff is allowed to continue to 2014," said TAMP.
This came as a rejection of the terminal operator's application for a 15 per cent rate increase. TAMP's previous attempts to cut terminal handling charges by 35 per cent have been set aside by the courts, one case involving Dubai's DP World.
CIT has been struggling with ongoing congestion problems attributed to difficulties on the main access road since year-end 2011 which has resulted in a backlog. However, it increased its annual throughput to 1.56 million TEU in 2011/2012 from 1.52 million TEU in previous year.
Source Shipping Gazette - Daily Shipping News
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