(Bloomberg) -- When Zhen Hua 15 — a heavy load cargo carrier sailing from the East China sea — unloaded at Vizhinjam port on Sunday, it did more than just...
-- When Zhen Hua 15 — a heavy load cargo carrier sailing from the East China sea — unloaded at Vizhinjam port on Sunday, it did more than just setting down the site’s first gigantic cranes. It also put India on the map for the world’s biggest container ships.Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India — will allow the nation to grab a bigger slice of the international maritime trade currently dominated by China.
The much-awaited deep-sea port along Kerala’s scenic coastline has been developed by Adani Ports and Special Economic Zone Ltd. in collaboration with the local state government. Adani Ports, India’s largest private sector port operator with a 30% market share, is also developing Israel’s Haifa port and plans to build a hub in Vietnam as part of its expanding global footprint.“The Indian ocean is 50% of sea trade,” said Chakri Lokapriya, chief investment officer at TCG Asset Management Co.
Vizhinjam port, according to the Adani Ports website, will offer a quick turnaround of vessels including Megamax container ships. It will have a capacity of 1 million TEUs in the first phase at an investment of 77 billion rupees. About 6.2 million TEUs will be added in the subsequent phases. As large ships become increasingly more vital to Europe and China trade, India can embed itself on that route, given its strategic location between the Suez Canal and the Strait of Malacca.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adani’s New Mega Port Can Lure World’s Biggest Ships to IndiaWhen Zhen Hua 15 — a heavy load cargo carrier sailing from the East China sea — unloads at Vizhinjam port this Sunday, it’ll do more than just set down the site’s first gigantic cranes. It’ll also put India on the map for world’s biggest container ships.
Read more »
New Zealand National Party’s Christopher Luxon ousts Labour to lead new governmentCoalition of conservatives expected to govern from Wellington with slim majority
Read more »
A toast to sobriety: B.C.'s first booze-free beverage room to open in Port CoquitlamPORT COQUITLAM — B.C.’s first booze-free beverage shop with a vast array of non-alcoholic options will open in November.
Read more »
Russia destroyed 300,000 tons of grain since July in port, ship attacksExplore stories from Atlantic Canada.
Read more »
Two Port aux Basques couples, two homes destroyedExplore stories from Atlantic Canada.
Read more »
Two Port aux Basques couples, two homes destroyedExplore stories from Atlantic Canada.
Read more »