APM Terminals Pipavav adds new Far East Service “Cl1”
back. Ascendas India Trust has acquired long-term leasehold rights in the warehouses spread over 800,000 sq ft and leased them to Arshiya Group's subsidiary Arshiya Lifestyle Ltd at pre-agreed rentals. Arshiya Lifestyle would operate and manage the warehouses retaining the surplus income from rentals and valueadded services post payment of pre-agreed rentals.
The deal for these warehouses located in the Arshiya Free Trade and Warehousing Zone has been concluded at price of around `6,500 per sq ft. It also has additional development potential of 2.8 million sq ft and that will also be sold to Ascendas India Trust. M.V. XIN NAN TONG of the Far East Cl1 service operated by COSCO and Wanhai made its first call to APM Terminals Pipavav. The Cl1 service links India to key markets globally and will facilitate a direct connect to Malaysia. It will also add to the liner options that serve the ever-growing markets of the Far East sector. The ports of call for this line are Pipavavpenang-shanghai-ningboshekou-nansha-singaporenhavasheva-pipavav.
In the vessel’s first call, APM Terminals Pipavav handled key imported commodities such as polyester fabric, LED tube lights, SS pipe, PVC resin & auto solar cells and loaded major exports of castor seed meal, raw cotton, vinyl sulphur ester and seafood.