Indian Shipping Companies

India is no longer content to only own ships but is determined to build them domestically, Union Minister Sarbananda Sonowal said, stressing that the country's largest commercial shipping company SCI will help India achieve its ambition of becoming a top shipping nation. The shipping minister also said the company was expecting its Profit After Tax (PAT) to surpass Rs 2,000 crore this fiscal from 1,352.92 crore on a standalone basis in the financial year ended March 2026. Addressing the 65th anniversary celebrations of the Shipping Corporation of India (SCI) at the Cruise Terminal at Mumbai Port on Friday evening, Sonowal also called on the Navratna PSU to take a leading role in India's drive toward self-reliant, globally competitive shipbuilding and maritime capacity. Founded in 1961 as a liner shipping company with 19 vessels, SCI has grown into a diversified maritime enterprise operating 58 vessels totalling 5.26 million deadweight tonnage (DWT). The company's operations now spa

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An Indian-flagged commercial vessel has come under attack off the coast of Oman but all its crew members are safe, the Ministry of External Affairs (MEA) said on Thursday. It is not immediately known who carried out the strike on the vessel on Wednesday. The MEA described the attack as "unacceptable". "The attack on an Indian-flagged ship off the coast of Oman yesterday is unacceptable and we deplore the fact that commercial shipping and civilian mariners continue to be targeted," it said. "All Indian crew on board are safe and we thank the Omani authorities for rescuing them," it said. The MEA said India reiterates that targeting commercial shipping and endangering innocent civilian crew members, or otherwise impeding freedom of navigation and commerce, should be avoided.

The privatisation plan, delayed for years, is now facing fresh setbacks that include dwindling interest in state-run firms

The Directorate General of Shipping also said that an attack on a port in Oman has resulted in the deaths of three Indian seafarers and left one injured aboard foreign-flagged vessels

The exemption under Section 3 lapsed in 2021; the ministry's October 2024 draft proposed a three-year dispensation with conditions on Indian-flag vessels and space for Indian NVOCCs

Global shipping and logistics operator CMA CGM Group on Wednesday said it has signed a letter of intent for six LNG-powered containerships to be built at Cochin Shipyard Limited (CSL) in line with its fleet renewal and energy transition strategy. This strategic move makes the Group the first major foreign carrier to commission LNG vessels from an Indian shipyard, the company said, adding that the containerships will be delivered from 2029 to 2031. All six vessels will be registered under the Indian flag, each with a capacity of 1,700 TEUs (Twenty-foot Equivalent Units), it said. This demonstrates CMA CGM's commitment to a more sustainable shipping as it can run on LNG and are ready for low-carbon fuels, significantly reducing greenhouse gas emissions, aligning with the Group's ambition to be Net Zero Carbon by 2050, the company said. The project at Cochin Shipyard will also be run with the technical cooperation of Korean shipbuilder HD Hyundai Heavy Industries, it said adding this

Exporters will need to explore new markets as the US is no longer an option for many, he stressed

India will be world's no.1 economy by 2047, says Sarbananda Sonowal, citing port expansion, shipbuilding push, ₹11.2 trillion capex, and new maritime laws at BS Infra Summit

Terminal Investment Limited Sarl (TIL) invests in, develops, and manages container terminals across the globe

US and British forces had carried out a series of airstrikes on Houthi assets on both land and sea beginning Friday

Neither option is appealing and both raise costs. In recent months, global supply chains had finally recovered after three years of disruptions caused by the pandemic

On Tuesday, Prime Minister Narendra Modi said that India aims to be among the top five nations in shipbuilding over the next 25 years

Shipping companies counter that their costs have soared as well

Ask govt to regulate them, bat for a larger Indian shipping company

As per the scheme, a subsidy of Rs 1,624 crore over five years to domestic shipping companies will be given in global tenders floated by Ministries and central PSEs

The Union Cabinet approved a scheme to provide Rs 1,624 crore over five years as subsidy to Indian shipping companies in global tenders floated by ministries and CPSEs for import of government cargo

Exporters are facing an almost 60% hike in freight cost since July

In April 2003, the Cabinet Committee on Disinvestment had decided to suspend any divestment in SCI.