APM Terminals Pipavav welcomed the IDM Symex car carrier, which arrived with a cargo of 800 Hyundai cars loaded at the Port of Chennai on February 5th, in a pioneering use of coastal transportation of Indian-manufactured automobiles.
This is the first domestic consignment since the Indian Ministry of Shipping’s decision to relax cabotage regulations on special vessels.
APM Terminals Pipavav, part of the APM Terminals Global Terminal Network, commenced export Roll-on/Roll-off (Ro/Ro) services in August 2015, after NYK Auto Logistics India (NALI) invested in a stock yard and pre delivery inspection facility.
“We are proud to be a part of this historic and innovative intra-costal shipment of Indian automobiles, serving India’s growing automotive industry with safe, and environmentally sustainable logistics alternatives,” said APM Terminals Pipavav, Managing Director, Keld Pedersen.
The new cars destined for Western India dealerships originated at Hyundai Motor India Limited’s (HMIL) automotive manufacturing facility near Chennai, which is India’s second-largest car manufacturer, and its largest passenger car exporter.
India has been projected by auto industry analysts to overtake Japan as the world’s foremost producer of “Entry Level” automobiles within five years, growing its market share from 20% in 2015 to 28% by 2021, as India’s consumer class, along with other emerging market populations targeted by Indian automotive manufacturers, continues to expand. India, with a population of 1.2 billion, is forecast to reach a record 2.2 million new car sales in 2016.