The Port Authority of Cochin joins the cruise industry

Continuing its quest to better serve the cruise industry, the Cochin Port Authority is pursuing its plan to develop, operate and manage the Sagarika Cruise Terminal and Tourism Plaza under a PPP or land lease model.

An Expression of Interest (EOI) has been invited from investors or experienced, resourceful companies with proven technical and financial capabilities, experience in cruise terminal operations and management, or in the development and management of tourism-related infrastructure or activities. The port authority believes that the potential investors have business relationships with ports, shipping companies, shipping agents or logistics companies that will help bring cruise traffic to the port.

With the aim of promoting cruise tourism, projects such as the construction of hotels, exhibition centers, leisure facilities and other business facilities that will attract tourists to the port are planned.

The total area envisaged for the project is 5.57 hectares in the Sagarika terminal and adjacent areas within the bonded area. The proposed project will have two sources of revenue: revenue from the handling of cruise passengers in the form of poll taxes and from the provision of ancillary services.

Recovery after the pandemic

According to official sources, the port handled 36,403 passengers in FY23 and 31 cruise ships were at anchor during that period. Post-pandemic, however, that’s a significant drop (compared to 44 ships in 2019-20), but the cruise industry is on a recovery path with numbers rising. The cruise business was among the first casualties of the pandemic, and its revival would boost the local economy and create numerous jobs.

According to industry sources, Kerala will be included in the list of 52 must-visit places in 2023 The New York Times A good sign for attracting cruise ships to Kochi. Around 55 cruise ships have already confirmed their arrival for the next two years. Boosting cruise tourism would help boost hinterland economic engagement and create job opportunities for tour operators, taxis and foreign exchange earnings.

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