Indira Dock’s New Era: J M Baxi and M Dinshaw Take the Helm

J M Baxi Ports and Logistics Pvt Ltd and M Dinshaw & Co Pvt Ltd are set to secure rights to operate cargo berths at Indira Dock under the Mumbai Port Authority for a period of 15 years, in what is being seen as the largest asset monetisation initiative undertaken by a state-owned port under the Operation and Maintenance (O&M) model.

J M Baxi Ports and Logistics, a leading private port operator in India, emerged as the highest bidder for a cluster of 10 berths, quoting a royalty of ₹153.44 per tonne. The company, which is 50% owned by Hapag-Lloyd AG, will take over key berths including BPX, BPS, ID HWB berths 18 to 21 and 23, along with Berth Nos. 1, 2 and 3 of the Indira Dock basin.

M Dinshaw & Co Pvt Ltd secured rights for a separate cluster of 12 berths with a higher royalty bid of ₹217 per tonne. This cluster includes Jetty End and berths numbered 10, 11, 12, 12A, 12B, 13A, 13B, 14, 15 and 16.

The initiative is being spearheaded by Mumbai Port Authority Chairman M Angamuthu, who is replicating the O&M model previously implemented at the Visakhapatnam Port Authority. Since assuming charge in September 2025, Angamuthu has been driving efforts to enhance efficiency and revive cargo volumes at the port.

The move marks a strategic shift for Mumbai Port Authority, which has faced challenges in monetising assets through the Public-Private Partnership (PPP) model. Officials believe the O&M approach will improve asset utilisation, introduce operational efficiencies, and attract greater private sector participation.

The port is also repositioning its cargo strategy, with a growing focus on cleaner cargo such as automobiles, construction materials, and project cargo. The privatisation of berths at Indira Dock is expected to help reverse the recent decline in cargo volumes at the port’s largest dock.

The shift to the O&M model is further driven by operational constraints, including a reduced workforce and declining productivity due to an ageing labour base. To address these issues, the port has opted to outsource key activities such as stevedoring, loading, unloading, and transportation.

The tender, floated in January, allowed bidders to compete for one or both clusters, with contracts awarded based on the highest royalty offers. J M Baxi Ports and Logistics and M Dinshaw & Co ultimately emerged as the top bidders for their respective clusters, marking a significant step in the port’s transformation strategy.

News by Rahul Yelligetti.