DP World's Cochin ICTT records 57,590 TEUs in Aug. 2019

September 11, 2019: Global trade enabler DP World's International Container Transshipment Terminal (ICTT) in Cochin has registered a record throughput of 57,590 TEUs for the month of August.

The August throughput broke the previous best of 56,598 TEUs in March 2019. The terminal volumes on a year till date (YTD) basis has grown by 14 percent.

The increase has been attributed to new services like the China-India (CI2) service started in April 2019 by Wanhai Lines and CONCOR’s coastal service that started in January this year.

Among the new initiatives in pipeline is a direct Europe service by Hapag Lloyd/ONE/Cosco/OOCL/YML expected to start in November this year. ICTT Cochin was also ranked first in the Annual Port Liner Shipping Connectivity Index released by United Nations Conference on Trade and Development (UNCTAD) among South Indian ports.

“2019 so far has been an encouraging year for us. The minimal deviation from the Asia-Middle east and Asia-Europe shipping lanes makes Cochin a transshipment choice for international ship liners. Apart from India’s exim business, our port is capable of handling traffic from other subcontinent markets,” said Praveen Thomas Joseph, CEO, DP World Cochin.

DP World Cochin has successfully implemented Bharat Trade for paperless transactions, RFID based automated gates reducing man vehicle interface, improved safety, reduction in transaction time and 24 x 7 customs to facilitate direct port entry. This has resulted in TTT (Truck Turn Around) time of 32 minutes.

ICTT offers direct services from Australia, Fareast, South East Asia and Middle East to Cochin and from Cochin to Fareast, Middle East, Europe and the Mediterranean.

DP World Group posted impressive results for the six months ending June 30, 2019 with reported adjusted EBITDA and attributable earnings growth of 21.9 percent and 26.8 percent respectively.