Adani Ports has increased the cargo lightening charges for capesize vessels at Gangavaram and Krishnapatnam port to $3 from $1 effective April 15, a notification from the ports stated.
The cargo lightening charges will be applicable to only cape vessels carrying coal with these two ports being the first or intermediate port of discharge.
Cargo lightening charge is the amount levied on importers who lightens their coal loading at two or more ports.
According to the circular, the charges will be applicable to the entire cargo as per the bill of lading brought to the port.
Owing to the rise in panamax and supramax vessel charges over the last few weeks, several importers have turned into bringing cape vessels in the ports.
Implications
Buyers reportedly have stepped back from fresh bookings amid speculations of rise in handling charges and plot rent at the port.
As per a Mumbai-based trading house, the rise in cargo lightening charges is likely to incur higher cost to sellers, which will eventually translate into the price to customers.
Further, expectation of more such charges at these ports may also discourage other importers to bring their vessels to these two ports.
Outlook
With Adani Ports and Special Economic Zone Ltd (APSEZ) acquiring 58.1% stake in Gangavaram Port, traders are likely to divert their shipments towards Vizag port.
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