PPT Launches Coastal Trade Link With Bangladesh
Bhubanswar: In a boost to its annual cargo handling, the Paradip Port Trust (PPT) has begun coastal trade operation with Bangladesh.
The port linkage improved the bilateral sea-route trade and commerce activities adding to the annual revenue of the major port.
Paradip port trust has gone ahead with coastal trade with Bangladesh. Shipments of three containerized cargoes have already taken place recently. In coming months, the coastal shipments with the neighbouring country are expected to go up further, said Chairman, Paradip Port Trust, Rinkesh Ray.
It was because of initiative of union ministry of shipping that trade doors with Bangladesh could be explored successfully, said the official.
Earlier the Bangla delegation headed by the country’s director of shipping had a healthy interaction with Paradip port trust (PPT) officials. Emphasis was laid on transhipment and coastal shipping between the two countries. Besides PPT, the ports like Vishakhapatnam, Haldia and Kolkata are also reaping benefits following the sea-route commercial of both the countries.
As per an agreement signed between the two countries, Bangladeshi coastal vessels are being used commercially for transporting cargoes to and from India through Chittagong and Mongla ports. Bangaldesh has also suggested a protocol for transhipment of Indian cargo by using the conventional coastal vessels. The bilateral coastal shipping is covering import, export and carrying of transit goods between the two countries.
The cost of transportation of goods from Bangladesh to India by road route is always on a higher side. But the sea-route handling of goods has substantially reduced the transportation cost. Both countries are reaping benefit from the coastal shipping, according to port officials.