Maritime stakeholders join hands to form new national container carrier

State-owned maritime entities have signed an MoU to form Bharat Container Shipping Line, aimed at strengthening India's export-import logistics and reducing freight volatility

Several state-owned maritime stakeholders on Tuesday signed a memorandum of understanding (MoU) to establish Bharat Container Shipping Line (BCSL). The MoU was signed among the Shipping Corporation of India, Container Corporation of India, Jawaharlal Nehru Port Authority, V O Chidambaranar Port Authority, Chennai Port Authority, and Sagarmala Finance Corporation.

 

The proposed container carrier will have a 51-vessel fleet, with an estimated investment of around Rs 59,000 crore, and will include domestic container manufacturing as a key anchor of India’s export-import logistics strategy.

 

The absence of a strong Indian container carrier has historically exposed exporters and importers to volatile freight rates and global supply shocks, the Ministry of Shipping said.