The efficiency of the ports is sometimes measured in terms of the Turnaround time (TRT). With this reference, consider the following statements:
1. TRT is the total time spent by a ship at the ports from its entry until its departure
2. Increased TRT indicates better efficiency for ports
Which among the above statements is / are correct?
[C]Both 1 & 2
[D]Neither 1 nor 2
Efficiency at ports has an important bearing on the transaction cost of the shipping lines. Major ports have improved their efficiency of operation particularly in terms of turnaround time (TRT). TRT is the total time spent by a ship at the ports from its entry until its departure. Average TRT for all major ports improved from 8.10 days in 1990-91 to 4.47 days in 2011-12. During April-September 2012, the TRT at 4.15 was lower compared to 4.80 days in the corresponding period of the last year.