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DP World to hike Chennai rates

Chennai: DP World will hike rates at its container terminal in Chennai port by 10% from 1 August, overruling protests from shipping lines, exporters and importers, Mint reported.
DP World's proposal to hike tariffs has been cleared by the Tariff Authority for Major Ports in a gazette notification issued on 2 July.
The tariff regulator for Unionl government-owned major ports has allowed a 10% increase, instead of a demand for 14%, and it will remain valid till 31 December 2009.
Chennai port is India's second biggest container port handling 1.12 million teu in 2007-08 from the DP World terminal.
"The hike would only increase transaction cost at a time when exporters are struggling against the rupee fall," the Chennai and Ennore Ports Steamer Agents Association said in a submission to the regulator. The terminal currently charges about Rs2,500 for handling a teu. [9/7/08]

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