The agreement between Cochin Port Trust and DP World for developing and operating the Vallarpadam International Container Terminal (ICTT) should be reviewed, say speakers at a seminar in Kochi on October 17. The seminar, ‘Salvage Sinking Cochin Port’ was organised by the Cochin Voice, in Kochi.
A maritime lawyer VJ Mathew said that there are enough reasons to cancel the agreement as DP World has violated various conditions in the agreement. The deal should be cancelled and the Cochin Port Trust must take over the terminal and operate it directly, he said.
Mathew presented a paper on the matter at the seminar. The ICTT, so far, has not brought any monetary benefit for the Cochin port, instead it has caused huge expenses, he added.