AsiaContainersPorts and Logistics
Container Corporation of India finds a partner for new coastal shipping venture
After much haggling state-run rail operator Container Corporation of India (CONCOR) has picked Vishwa Samudra Coastal Lines to launch new coastal shipping services from January, in a bid to help New Delhi’s drive to decongest the country’s overburdened road and rail network.
Vishwa Samudra is 60% held by Seaport Cargo Logistics, a unit of the CVR Group that runs Krishnapatnam Port, with Hyderabad-based VM Logistics Consulting holding the balance.
The contract is for 10 years and will see two 700 teu ships move boxes around India.
Earlier tenders put out by CONCOR for this deal had failed to garner much interest.