10/05/2012 - Myclipp

Business Line/ - Markets, Qui, 10 de Maio de 2012
CLIPPING INTERNACIONAL (Supreme Court)
No interim relief on tariff for pvt
terminals at JN Port
The private container terminal operators at the
Jawaharlal Nehru Port failed to get a stay against the
Tariff Authority's order directing them to cut port
charges.The Supreme Court on Thursday declined to
admit the special leave petitions filed by the Nhava
Sheva International Container Terminals (NSICT) and
the Gateway Terminals India (GTI), the two private
terminals operating at the JN Port.In February, the
Tariff Authority for Major Ports (TAMP) ordered GTI to
reduce tariff by 44.28 per cent.Later in March, it
ordered NSICT to cut rates by 27.85 per cent. Both the
terminal operators had, in fact, sought a raise in tariff
in view of the increasing operating costs.GTI had
asked for 8.72 per cent increase and NSICT 30 per
cent. Following the TAMP orders, the two operators
approached the Delhi High Court seeking a stay on the
regulator's directions.However, the court rejected their
appeal on the grounds of jurisdiction as both the
terminals are located in Mumbai.Subsequently, both
GTI and NSICT approached the Supreme Court,
which declined to admit their petition on Thursday. DP
World, Dubai, which runs the NSCIT declined to
comment stating that the matter was
sub-judice.However, an official has confirmed that the
Supreme Court had turned down their plea seeking
an interim relief.Both the terminals are yet to revise the
rates, though TAMP orders mandate them to do it with
in 15 days after they are issued. According to reports,
pending court case, the terminals have entered into an
arrangement with shipping lines that they would adjust
the rates once the matter is settled.TAMP orders were
issued after reviewing the performance of the terminals
and their existing charges.The two terminals were top
performers and handled cargo in excess of their
mandated minimum throughput.However, TAMP,
taking into account the increase in volume and
revenue, ordered a steep cut in rates in accordance
with the 2005 guidelines.JN port handles more than 55
per cent of the container cargo shipped through the
Government-owned major ports in the country.NSICT
pays the land lord JN port a fixed royalty on the
volume of containers handled irrespective of the TAMP
rates.Gateway Terminals share 35 per cent of its
annual revenue with the port, which is calculated on
the basis of rates notified by
TAMP.kurup@thehindu.co.in
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