Cosco Shipping Car Carrier expands footprint in Europe with PWL

SHANGHAI: Cosco Shipping Car Carrier has inked a strategic cooperation agreement with its first overseas partner PWL Shipping for developing ro-ro market in Europe.

According to the agreement, PWL will utilise its extensive resources and experience to start a comprehensive and deep collaboration with Cosco ShippingCarCarrier.Thetwopartieswilljointlyworkon developing automobile ro-ro service in Europe and provide full-scale automobile logistics and other valueaddedservices.

The deal is a key step for Cosco Shipping Car Carrier toimplementitsglobalisationstrategy.

During January and April, the export automobile volume of China was 1.37m units, a substantial growth of 89.2% year-on-year, while Europe is one of the major exportmarkets.

To meet the demands from market and clients,

Cosco Shipping Car Carrier is planning to adjust its fleet deployment in the second half of this year and further expand services in Europe, said Cosco Shipping Car Carrier.

With the delivery of new vessels during 2024-2026, Cosco Shipping Car Carrier will have a fleet of 30 car carriers and is expecting to offer three or four services betweenChinaandEuropemonthly.

First mother ship to berth at Adani Ports Vizhinjam in September

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Uponitscompletion,theportwillproveto be a game changer not just for Kerala but for the entire country as 80 per cent of transshipments to India which currently takes place at Colombo,SingaporeandDubai,willarriveatVizhinjam.

During the commencement of the port by Adani on December5,2015,GautamAdanihadannouncedthatthe first ship will berth there on September 1, 2018, in a record time of less than 1,000 days. Inked during the Congress-led UDF Government under Chief Minister OommenChandy(2011-16),theworkfortheportbeganat the fag end of Chandy’s tenure, but after the Pinarayi Vijayan Government took over, due to numerous reasons,thepacecouldnotbefollowed.

AftercycloneOckhihittheconstructionsitein2017,a portion of the constructed breakwater was washed away and since then the shortage of limestone, the most important raw material for the project, caused yet anotherdelay.

The total cost of the port project is Rs 7,525 crore for whichthe state governmenthascontributed 500 acres of land.

Even though the authorities now say that the first mother ship will berth in September, last year the State PortsMinisterAhamedDevarkovilhadsaidthatthefirst ship will berth in March 2023 and the first phase of the portwouldbecommissionedin2023September.

According to the agreement, Adani will operate the port for 40 years, extendable by 20 more years, while the State Government will get a portion of the revenue from theportafter15years.

Accordingtotheproject,arecordonelakhjobswhich includes direct and indirect ones will be created and hencethearrivalofthefirstmothershipinSeptemberis eagerlyawaited.