Indian Port Closure Risks Losses

15 August 2010 (Last Updated August 15th, 2010 18:30)

The closure of Jawaharlal Nehru Port in Mumbai, India, following a collision between two cargo carriers, could cost close to $1m a day, according to reports. The daily import duty loss at the port is about INR850m ($18m), which generates INR260bn ($5.5bn) import duty annually. Nea

The closure of Jawaharlal Nehru Port in Mumbai, India, following a collision between two cargo carriers, could cost close to $1m a day, according to reports.

The daily import duty loss at the port is about INR850m ($18m), which generates INR260bn ($5.5bn) import duty annually.

Nearly 800t of oil is believed to have leaked from 120 containers that fell from the MSC Chitra into the sea.

The port, along with two private container terminals, handles nearly 10,000 containers a day, comprising 60% of Indian cargo traffic.