Significance of Chennai port for world export business

Chennai port

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Every major seaport in the world contributes to the mutual growth of maritime trade in the international market. The Port of Chennai in India holds one such significant position. It comes third in the list of oldest ports in the country. The port has had a successful run over the years while adding to the development of South India. Its history describes it as one of the primary travel ports, but its journey has been commendable as a container port in Tamil Nadu. Let us understand its significance in the world export business.

Influence of The Port of Chennai In The World

The Chennai port is active seven days a week and gives round-the-clock services to the traders. It maintains customer satisfaction by augmenting exports safely. It has gained phenomenal growth since 2009 and has created several growth opportunities in the sector. Here are some of the facts that make the Port of Chennai a significant name in the world.

Its Traffic Growth Over The Years

Chennai Port started operations soon after its establishment in 1881. It handled mediocre cargo traffic till 1945, with the quantity ranging between 0.5 million and 1 million tonnes. From here, the port’s journey and role in the trade business took the total to 15 million tonnes by 1985. It touched the target of 40 million tonnes in 2001 but observed a slump in the next few years. It recovered from the downfall soon and gained a steady pace of growth in the following years. Today, the port handles around 20 million tonnes of just coal and iron cargo every year!

Infrastructure & Terminals

The port of Chennai has a well-developed infrastructure, with its private Railway operations running inside the harbour. Its inner harbour measures 218 acres, while the outer one touches 200 acres. It has a total land area of 518 acres, with 23 berths spread across the port. It has three docks and two jetties. It also has 12 warehouses and eight transit sheds. The port authorities are planning to expand its area to cover the cargo traffic.

Facilities Offered To Exporters & Importers

The facilities offered by the port to exporters and importers are up to the mark. It offers Demurrage and Detention facilities. The customer service of this port has gained popularity and connections all over the world. It connects directly with over 50 major seaports around the world, giving a wide exposure to the traders to carry out trade operations. It charges a minimum wharfage of INR 3 per unit to give enough time to the exporters. Therefore, the Port of Chennai gains a lot of its credit from the traders who avail of its services.

Connection With Sister Ports

The Chennai Port has two sister port agreements with Canada and Belgium to cooperate in port development and freight shipments. It connected with the Port of Zeebrugge (Belgium) in 2008 and the Port of Halifax (Canada) in 2009. The agreement includes cruise knowledge, technical expertise, container terminal as well as tourism.

The Future Prospects

The Chennai Port is working towards building the first single largest terminal in India. It has also got the approval for a third box terminal which will need around US$800 million of investment. It is also planning to build a marina to berth around a dozen yachts. All these projects are in process and will benefit the country’s economy to a great extent.

All these factors make the Port of Chennai an influence in the international trade market. Its prospects and forthcoming plans of development explain how it intends to grow in the future. Traders must get the best service providers and freight booking services to get available vessels at the port. And keep learning about the significant ports to gain knowledge!

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