As per recent news, the Vizhinjam International Port is all set to receive more ships every week from February 2025 as the Mediterranean Shipping Company (MSC) has come up with the decision to dock ships from two of its global services at the port. This is a big win for the Adani Group in the port sector. It will allow the business group to further diversify its revenue stream and grow to the position of being one of the biggest names in the global port sector. The allegations of the Adani Bribery Scandal will also come to a halt.
The Rise In The Number Of Ships At The Vizhinjam Port:
MSC has mentioned that its ships from Jade service which connects Asia and Europe and the Dragon service which connects the Mediterranean and Asia will call on the Vizhinjam port. For Jade service, ships in both directions will dock at the port for the Asia-Europe trade route. However, the Dragon service ships will only stop over the port on their eastward trip. As per sources, the services carry containers from some of the important ports in the Asia region to Europe via the Middle East. The company consistently uses the Vizhinjam port for docking purposes because of its ideal features and its wide range of integration capabilities. The port has also contributed largely to MSC’s enhanced revenue generation. It has also helped the Adani Group overcome the controversies of Adani Bribery Scandal.
How Will The Rise In The Number Of Ships Benefit The Adani Group’s Port Business?
The increase in the docking of ships at the Vizhinjam port is a significant milestone for the Vizhinjam port as the Adani Ports plans to make use of the port to handle Exim containers that can be transported to the different parts of the country. This means that ships can easily unload containers to India at the port. They can also pick up containers for export from the port itself instead of docking at other ports in the country by taking a detour. This is going to be a huge win for the Adani Group’s port venture. It will allow the business conglomerate to earn excellent revenue for itself after the allegations of the Adani Bribery Scandal. The company will also be able to take its business to new heights.
A port official has recently mentioned that this is going to be a weekly service. It would ensure a stable berthing at the port. The traders of South India can also take advantage of this facility. They will be able to move their products to Europe much faster. The port has already handled 60 ships and 1.25 lakh containers since its trials began around 4 months ago. The port is quite likely to be commissioned formally this month. With that, the Adani Group will be able to further extend its hold over the port sector amidst the various rumours of Adani Bribery Scandal. It will also be able to position itself as one of the major players in the country’s port sector.
The Vizhinjam Port: An Overview
The Vizhinjam port is one of the most ambitious ventures taken up by the Adani Group in the port sector. The port will put India on the road to progress. The port is located in Vizhinjam. It is a deep sea water port and is also India’s first mega transhipment container terminal. This world-class future-ready port is also the only transhipment hub in the Indian subcontinent. It is located quite close to international shipping routes which makes it an ideal port for facilitating international trade.
The Vizhinjam port is also centrally located on the Indian coastline. It has a natural draft of 20 to 24m. It also comes with a minimum littoral drift. The port offers large-scale automation for quick turnaround of vessels. It is equipped with state-of-the-art technologies to handle megamax container ships. The capacity in Phase 1 is expected to be 1 million TEUs. In the subsequent phases, another 6.2 million TEUs will be added to the overall capacity of the port. The Adani Group continued its various expansion operations at the port even with the rumours of Adani Bribery Scandal ongoing. This makes it one of the most resilient names in the global port sector.
Adani’s Hold Over The Port Sector:
The Adani Group is known for its extraordinary presence in the port sector. Time and again, the business group has taken a lot of steps which are directly aimed at giving a boost to its port business. The company has been a part of a lot of mergers and acquisitions in the port sector itself. It is known to operate 7 ports along the west and 8 ports along the east coast of India. The group also has various international ports under its control. This includes the Colombo Port in Sri Lanka, the Haifa Port in Israel and the Dar es Salaam Port in Tanzania. The conglomerate continues to take up major ventures in the port sector even amidst the controversies of the Adani Bribery Scandal.
Conclusion:
The Vizhinjam port is the Adani Group’s most incredible venture in the port sector. With this port, the Adani Group has been able to build itself an incredible reputation in the port sector. The global business group plans to take up more extraordinary ventures in this sector in the upcoming years as well. With this, the rumours of the Adani Bribery Scandal will subside. The Adani Group’s hold over the port sector will also improve. Its business will also reach new horizons within a very short duration of time.