Ministry of Shipping has rationalized tariff rates for the Cruise vessels. The net effect of the rate relaxation would be an immediate reduction in port charges ranging from 60% to 70%, which will give substantial relief to the cruise industry in India, in line with the government policy to support the economy in COVID-19 pandemic situation.
The port charges for a Cruise Ship to be charged at $0.085 per GRT (Gross Registered Tonnage) instead of $0.35 of current rate, for first 12 hours stay ('Fixed Rate') and $5 per passenger ('Head Tax'). The Ports will not charge any other rate like berth hire, port dues, pilotage, passenger fee, etc.
For the period exceeding 12 hours stay, the fixed charges on cruise ships will be equal to the Berth Hire Charges payable as per SOR (Schedule of Rates) (with 40% discount as applicable for cruise ships).
Further, cruise ships making 1-50 calls per year are to get 10% rebate, 51-100 calls per year are to get 20% rebate and above 100 calls per year are to get 30% rebate.
The rationalized tariff shall be immediately effective for a period of one year.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
