Indian East Coast based Gangavaram Port Authority reported that port vessel operations will be closed till Sunday because of recent natural calamity (Hudhud).
All vessels at Gangavaram port, which were positioned at berth, have been shifted at anchorage. The port operations at Gangavaram & Vizag have suspended temporary as it needs time for proper inspection and development.
Gangavaram Port Authority mentioned that, ” Port operations expected to start from Monday as all safety measures which was initiated to minimize damage, failed to deal with cyclone.”
Gangavaram port, India’s one of the largest coal importing ports, has imported about 7.2 MnT of coal in last 6 months of FY15 and imported about 3.4 MnT & 3.8 MnT coal in consecutive quarters of FY15.
Closed port operations for few days are likely to distress coal import activities at ports. In current situation, a large number of vessels containing 0.7 MnT imported coal have been waiting at Gangavaram port. However, few vessels have been re- shifted from berth.
At Gangavaram port about 8-9 vessels, which are at waiting position, belongs to JSPL, Adani, RINL, Avani Resources, Steel Exchange Enterprises & Trimex Sands. Long waiting time at port may increase demurrages cost that will charge around USD 15000-20000/day. But, it is not clear that who will bear the extra cost as it directly increases cost of freight.
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