KPT, PQA slash transshipment costs

ISLAMABAD:

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has announced a unified transshipment incentive package offering major concessions at Karachi Port and Port Qasim to cut cargo handling costs and attract regional shipping traffic, according to a statement issued on Wednesday.

The package, jointly introduced by the Karachi Port Trust (KPT), Port Qasim Authority (PQA) and their container terminal operators, includes reductions in wet charges, wharfage, storage fees and terminal handling charges for containerised, bulk and break-bulk transshipment cargo.

Under the framework, vessels carrying transshipment cargo will receive wet charge concessions ranging from 20% to 80% based on the proportion of transshipment cargo. KPT will offer wharfage concessions from 20% to 80%, along with 14 days of free storage at terminals and 30 days at the TPX cargo area. PQA will grant 100% wharfage concession with seven days of free storage, extendable to 21 days. Pakistan's four major container terminals have also announced reductions in terminal handling charges for transshipment containers, ranging from 10% to 25% depending on the transshipment share.