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PSA fails to attract traffic to Gwadar - LRE - 10-26-2010 05:55 PM
PSA fails to attract traffic to Gwadar
26 Oct 2010
Pakistan's new Gwadar port has been struggling to attract shipping lines, a failure that sources close to the port blame on poor marketing.
At present, the only vessels using the facility are those carrying government urea cargo.
Operator PSA had planned to turn the port into a transhipment hub, but without noticeable success to date. Local businessmen are now calling upon the government to take charge of the port's affairs, while local investors are said to be creating a consortium to buy the port from PSA. The local Balochistan government is also said to be willing to take part.
In the three years that it is been open, only 92 vessels have called, despite the potential gateway role it has in serving the Central Asian States. It had been hoped that overspill container traffic from both Karachi and Qasim ports would move to Gwadar, but this has not happened.
Should either PSA or the Pakistani government withdraw from the existing contact, a penalty of $20m would have to be paid.
A spokesperson for PSA emphasised: "We have invested $40m since 2007 when the 40-year contract was signed."
http://www.portstrategy.com/news101/asia/psa-fails-to-attract-traffic-to-gwadar