Employees of the Cochin Port Authority have voiced apprehensions regarding the port's financial stability as it embarks on a project to deepen its shipping channel from 14.5 meters to 16 meters. The Joint Forum of Trade Unions, representing various unions at the port, has highlighted that this initiative is being pursued under the directive of the Ministry of Ports, Shipping and Waterways with the aim of transforming the Vallarpadam International Container Transshipment Terminal (ICTT) into a thriving hub.
A key concern raised by the employees is the increased financial burden that a deeper channel would entail. The project would necessitate more frequent maintenance dredging, adding to the port's operational costs. P.M. Mohammad Haneef, chairperson of the forum, emphasized that the government has not yet responded to the port's request to share the cost of maintaining the channel, which serves as a national asset utilized by various entities, including the Indian Navy, Coast Guard, and Cochin Shipyard Limited.
Furthermore, the Union Budget 2024-25 has not allocated funds for the recurring expenses associated with dredging. The budget also remains silent on the port's request to write off a ₹400 crore outstanding loan from the Government of India. These factors have intensified the port's need for government support to sustain its operations and remain financially competitive.
The transfer of container handling to the Vallarpadam ICTT is part of India's 'Atmanirbhar' initiative, aiming to reduce dependence on foreign ports for transshipment. C.D. Nandakumar, general convenor of the forum, stressed that given the project's national significance, the government should fund both capital dredging and ongoing maintenance of the channel.
Government support is also crucial for the Kochi port to withstand the competition posed by the upcoming Vizhinjam port. Such measures would enable the port to offer cost-effective, efficient, and user-friendly services, ensuring its survival in the competitive market, added Mr. Nandakumar.
