Even as the Kochi Corporation Council has reiterated the demand that the civic agency get its share of revenue from the two ro-ro ferries that operate in the Fort Kochi-Vypeen sector, fear is rife that the ferry service might be hit in June when one ( Sethusagar-1 ) of the vessels will be withdrawn for mandatory dry-docking at Cochin Shipyard where it was built.
The dry-docking, done every three years, involves complete overhaul of the vessel and repainting. The alternative conventional ferry, Fort Queen , with 150 seats, but cannot carry vehicles, too will be dry-docked (was due in April) during the same period, at Kerala Shipping and Inland Navigation Corporation’s (KSINC) yard at Thopumpady. It had fallen into disuse when the two ro-ro ferries began service. Their dry-docking will leave commuters with just one ro-ro vessel service in the ever-busy route. The other ro-ro vessel ( Sethusagar-2 ) will be sent for dry-docking in early 2021.
“We hope the ro-ro vessel that will be pulled out of service in June will resume service in July. Its dry-docking is expected to cost ₹79 lakh, besides the cost of spare parts.
Another ₹1.5 lakh is needed to renew the insurance and to get certificates from the Ports Department, Cochin Port Trust and the Indian Register of Shipping,” KSINC sources said.
Sharing of profit
The two ro-ro vessels raked in an income of ₹6.51 crore of which ₹1.59 crore was profit. Of this, the profit share of Kochi Corporation was ₹79.64 lakh. From this profit share, ₹29.34 lakh was deducted as loss towards Fort Queen, which was idling since the ro-ro vessels began service in 2017. Of the ₹50.29 lakh payable to the civic body, a sum of ₹ 23.78 lakh has been paid. From the balance amount payable, ₹ 24.76 lakh would be deducted as cost to dry-dock Fort Queen . KSINC thus owes ₹1.74 lakh to the Kochi Corporation, official sources said.
After about three years delay over differences of opinion about terms and conditions, the two agencies recently inked an agreement to operate the vessels. Still, differences persist about handing over half the profit to the Kochi Corporation. “They are asserting their demand for profit share without investing even a rupee and not earmarking any expense for the maintenance of the ferries. Although they own the vessels, the State government provided the capital investment, while KSINC is operating the vessels,” the sources said.
An official of the civic agency said that KSINC would continue to operate the vessels, although plans were afoot to form an SPV for the service.
