Destination Cochin 2015 Bunkering Conference on May 15

Tuesday, May 12, 2015,19:39 IST By metrovaartha A A A

Kochi | The Second Edition of Destination Cochin 2015-  International Bunkering Conference hosted by Cochin Port Trust is scheduled on May 15 at Crowne Plaza, here.
The meet would bring together decision makers from various bunker business houses across the country, who shared their thought and experience during the conference, which was expected to be attended by many senior business personalities from across the world.
The bunker industry had been making strides in Cochin and was growing further in an eco-system of streamlined Port operations, a supportive Customs regime and favourable Tax regime that permits floating storage, multiple shipment and rapid supplies at short-notice, round the clock, a port trust release said here today.
The tax rates in vogue at Cochin are the lowest with VAT @ 0.5 per cent for foreign-going vessels and @ 5 per cent  for coastal vessels, it said adding that  Cochin was presently experiencing growth of volumes exceeding 20 per cent and the feedback of customers on the quality and the pricing of bunkers sourced at Cochin from all the major suppliers had been extremely encouraging.
Cochin Port now was expecting  to build on these trends and leverage on its geo-strategic locational advantage sitting on the international sea routes and was preparing to emerge as Indias favourite bunker outlet and the most competitive among the South-Asia counterparts, it said.
The Port was now offering a 100 acre SEZ on Puthuvypeen for accommodating the future growth potential of bunker service, it added.
The highlight this year is that Cochin Port did a trial LNG bunkering on 25th February, 2015; this is creditable, considering that the USA too did its first trial bunkering at Port Fourchon, Louisiana in the same month.
The second Edition of Bunkering Conference 2015, attended by an array of top officials in this field, including Petronet LNG Ltd MD and CEO, Dr A K Balyan, C Muralidharan, Viswalab, Singapore, Manoj Tandon of Martitiums Consulting Private Limited Singapore and Shipping Corporation of India Director, Captain B B Sinha and Cochin Port Trust Chairman Paul Antony would review the progress made so far and brainstorm concrete answers and action plan from policy makers, government functionaries, decision makers in the maritime industry and stakeholders connected with bunkering.