Attorney General advises govt to scrap PSA’s Tuticorin port terminal Live Mint Union government-owned V.O.C Port Trust located in Tuticorin, can scrap a container terminal run by PSA International Pte Ltd from 1999 on a 30-year contract after the Singapore firm defaulted on paying the contractually-mandated royalty to the government port, according to India’s chief legal adviser, attorney general Mukul Rohatgi. “I am of the considered opinion that the querist can terminate the licence agreement and also claim compensation if it deems fit,” Rohatgi said in an advice signed on 7 August 2015. Mint has reviewed a copy of the opinion given by him. PSA-Sical Terminals Ltd, the entity that runs the container terminal at VOC port from 1999, is 62.5% owned by PSA International, a unit of Temasek Holdings Pte Ltd, the sovereign wealth fund of Singapore. The terminal has been dogged by tariff issues for many years. In June 2011, PSA secured a stay from the district court in Tuticorin, freezing the annual royalty it is contractually mandated to pay VOC Port at the level set for 2010 as part of the 30-year contract.

Investors pitch for location of Maritime Board in Vizag The Hindu While welcoming the State government’s policy on development of ports all along the 974-km coastline to spur maritime-based economy, many connected to port operations have sought the location of the headquarters of AP Maritime Board at Visakhapatnam. The government in the policy has spelt out its plans to set up ports in PPP mode by doling out several sops like sales tax and VAT exemption. The lease rent is also proposed to be fixed at 6 per cent of market value. Investors say the port policy and the decision to establish Maritime Board with autonomous powers to give a fillip to port-led development will make the economy in Navya Andhra Pradesh vibrant like Gujarat. “Giving clearances will become easy once rules are framed and Maritime Board is set up. While Visakhapatnam and a few other big ports will focus on container business, other ports will attract bulk cargo like iron ore, food commodities and fertilizer,” Sravan Shipping Services Managing Director G. Sambasiva Rao has told The Hindu. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com