VIZAG PORT RISING IN STATURE

Vizag port on the eastern coast is emerging as an important link in global maritime trade and supply chain networks with vast untapped potential to service domestic and international cargo for the neighbouring countries, according to the IPO-bound local port terminal operator, JM Baxi Ports & Logistics.

Vishakhapatnam port is the third largest major Indian port and key trade enablement hub for container cargo on the upper eastern seaboard.

Vizag has the potential to become the transshipment hub for Bangladesh being closer to export / import destinations in Southeast Asia and Far East. Also Vizag is one of the only two ports in India handling cargo bound for Nepal.

"Vishakhapatnam port is going to gain stature as a key gateway in the maritime supply chain network to the Eastern part of the globe in the aftermath of the pandemic as well as recent geopolitical developments (with ports in neighbouring Sri Lanka getting affected by the state of the local economy)," according to experts.

Commercially, more than 70 per cent of the transshipment business from Colombo Port is linked with the Indian market.

Vizag port, thanks to its rail and road connectivity, is ideal for shipments to and from Far East and Southeast Asian regions of Myanmar, Vietnam, Cambodia, Bangladesh and Nepal.

"The eastern part of India comprising Vishakhapatnam, Paradip and Haldia are underserved markets at this point of time but are growing fastest in maritime logistics and have huge potential," said Dhruv Kotak, managing director of 106-year-old JM Baxi Ports & Logistics that operates Visakha Container Terminal at Vizag.

JM Baxi Ports & Logistics is reportedly planning to file papers this month for a Rs 2,500-crore initial public offering.