Date:15/11/2005 URL: http://www.thehindubusinessline.com/2005/11/15/stories/2005111502500700.htm

Back India Gateway Terminal auctions uncleared cargo

Our Bureau

Kochi , Nov 14

INDIA Gateway Terminal, the container terminal operator of the Kochi Port, has auctioned old and un-cleared imported cargo along with Container Corporation of India Ltd.

An India Gateway Terminal statement said thecargo from 25 containers lying un-cleared inside the terminal since 2003 were auctioned.

The cargo mainly included steel scrap, slippers and Iranian tea.

The response to the auction was good — there were over 100 bidders from Mumbai, Chennai and Bangalore.

India Gateway Terminal proposes to conduct similar auctions every two months, the statement said.

Best Mulyankan Consultants Ltd, Mumbai, conducted the auction. Cochin Customs extended full support and co-operation throughout the auction process.

The auctioning of the containers has decongested the terminal yard and has helped the company in easier container handling. The process will also help the shipping lines by getting back their containers held up in the yard the statement added.