On a trade mission to India, the Montreal Port Authority (MPA) has signed a cooperative agreement with Mundra Port.
As informed, the agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices.
“Asia, and especially India, is an emerging market with enormous potential. It and the Port of Montreal are already solidly connected thanks to container services,” Tony Boemi, Vice-President, Growth and Development at the MPA, commented.
“This cooperative agreement with Mundra Port strengthens our presence in India and showcases the Port of Montreal’s advantages as a strategic gateway of choice for goods destined for the North American market,” Boemi added.
The Montreal Port Authority (MPA) is on a trade mission to India from February 12 to 16. The mission’s objective is to increase the Port of Montreal’s visibility with the Indian marine transport logistics chain. The MPA also aims to strengthen its business and cooperative ties with Indian ports, specifically Mundra Port.
Asia accounts for 25% of the Port of Montreal’s market and is by far the fastest growing segment. India alone accounts for 5%, yet was virtually non-existent as a market just a few years ago, according to the Port of Montreal.
From 2016 to 2017, the volume of goods to and from India rose by 40%. Freight transport is provided by the international container shipping giants Maersk, Hapag-Lloyd, CMA CGM, OOCL and MSC.
Operated by Adani Ports and Special Economic Zone Limited (APSEZ), Mundra Port is India’s largest commercial port. It handles liquid and dry bulk and more than three million TEUs in annual container traffic.
The Port of Montreal is the second largest port in Canada and a diversified transshipment center that handles containerized and non-containerized, liquid bulk and dry bulk cargo.