The agreement was signed at a launch party in Mumbai attended by over 250 guests. Graham Wall, group commercial director for PD Ports, highlighted the group’s current developments, and in particular the potential benefits of utilising the planned Northern Gateway Container Terminal (NGCT) for UK imports from the Indian shipping market.
He commented: “India is one of the global leaders in the shipping industry and is a key player in the world economy. Approximately 95 per cent of the country’s trade by volume, and 70 per cent in terms of value, is moved by sea. It is that traffic from India that is destined for the retailers and consumers of the northern UK that we want to attract at Teesport.”
PD Ports first began promoting the NGCT in the Far East in December 2007, and since then port representatives have visited Singapore, Malaysia, Thailand, China and Vietnam, together with Dubai and India on the latest trip. It is aiming to attract deep-sea vessels to the NGCT, which received government approval in April this year. The £300m+ development will have a capacity of 1.5m teu and is scheduled to open in 2011.