Container Corporation of India (CONCOR) is likely to start coastal shipping services in the country’s eastern coast, linking Chennai Port with Bangladesh’s capital Dhaka. The eastern coast service will be run with two ships hired by Vishwa Samudra from the market. The 10-year contract deploys two coastal ships capable of carrying as much as 700 twenty-foot equivalent units with maximum gross weight of 21,000 tonnes (cargo plus container weight). The company had picked Vishwa Samudra to launch the Western coast service last year through a tender, seeking to benefit from the impetus given by the government to the waterway mode to decongest road and rail.
Bangladesh’s booming economy has earned it the status as the fastest-growing economy in the Eastern hemisphere. The country’s GDP grew by 8.1 per cent in 2019 and is forecast to expand by 8 per cent this year also, according to the Manila-based Asian Development Bank (ADB).