Privately run Visakha Container Terminal in the Vishakhapatnam Port trust is slated to become the regional transhipment terminal in the eastern side of India with the launch of new direct services to Europe and the Mediterranean.
With spreading its trade connectivity to these regions, Visakha is transforming into a major transhipment terminal. Adding to facility of becoming a preferred port in the east coast, the Vishakhapatnam Port Trust has provided certain commercial benefits such as discounts on some charges. These benefits also help the port to grow as one of the most sought after ports in the eastern part of the country.
The transhipment Terminal is mainly owned by international cargo handlers. With respect to service, the port has three services – CHX, MDM and FME to the East, Maersk, CMA-APL, Cosco, Wan Hai, RCL, KMTC, TSL, BTL and Feeder Tech cater to the shipment towards Far East and South East Asia. There are other services that connect to Colombo ports and to other ports in India.
Commencing its operations in 2003, the port has seen a steady growth from over 0.45 million TEUs in 2018-19 to about 0.5 million TEUs in 2019-2020. It is said that the business in the port grew at a rate of 148 per cent in 2019 fiscal than in 2018 fiscal.