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Shipping Industry
India's ports are transforming from cargo gateways into integrated logistics and industrial hubs, supported by publicprivate partnerships and global best practices, Secretary in the Ministry of Ports, Shipping and Waterways, Vijay Kumar, said on Wednesday. Addressing around 200 investors and industry stakeholders during a round-table held at the Singapore Maritime Week (SMW) 2026 here, Kumar pointed out, "India is steadily - and decisively - moving in the direction" to be in the best position to sustain growth, attract investment, and integrate into global value chains. He shared the growth reported by Indian ports, where capacity has been doubled, and the next frontier is to have world-class efficiency and transshipment. Cargo handling capacity has doubled since 201314, from 1,400 MTPA to 2,771 million tonnes per annum (MTPA), with a target of 3,500 MTPA by 2030 and 10,000 MTPA by 2047. In FY 202526, India's major ports handled over 915 million tonnes - the highest ever - registeri
The announcement of a ceasefire, between the US and Iran, along with the reopening of the Strait of Hormuz, will provide immediate relief to exporters by easing shipping disruptions, FIEO said on Wednesday. US President Donald Trump announced a two-week suspension of military strikes against Iran. Iran agreed to allow safe navigation through the Strait of Hormuz during the ceasefire, triggering sweeping market moves across oil, equities and currencies. "The ceasefire and reopening of the Strait of Hormuz bring immediate relief to exporters by easing shipping disruptions, high freight rates, and insurance costs," Federation of Indian Export Organisations (FIEO) President SC Ralhan said. He said while this should help normalise logistics in the short term, exporters will remain cautious given the temporary nature of the truce. "Sustained stability is essential for restoring confidence and ensuring smooth trade flows," Ralhan added. The ceasefire announcement is important as the mid
With exporters facing a surge in sea freight of up to 300 per cent due to the West Asia crisis, it has been decided to increase the number of small vessels operating between India and Gulf countries from April 15 to help clear consignments, FIEO director general Ajay Sahai said on Monday. In a meeting with the DG (Shipping), exporters flagged issues they are facing due to the crisis, triggered by the US and Israel joint attack on Iran, Sahai said. About 400 exporters participated in the meeting, as the crisis is impacting the movement of containers. "It has been decided to increase the number of Non-Vessel Operating Common Carriers (NVOCCs) from April 15 between India and the Middle East countries," the director general of the Federation of Indian Export Organisations (FIEO) said. He said that the war has led to a significant jump in freight due to an additional contingency surcharge being imposed by foreign shippers. "The surcharge ranges between USD 1,500 and USD 4,000. There is
The government is closely monitoring the evolving situation in the Middle East, Union Minister Sarbananda Sonowal said, adding that all necessary mechanisms have been activated to ensure the safety and welfare of seafarers and maritime assets. The Middle East is facing military turmoil where the US and Israeli forces are at war against Iran, which has closed the Strait of Hormuz - a major passage for vessels. The war has intensified since the killing of Iran's supreme leader Ayatollah Ali Khamenei, on Saturday, attacks carried out by the US. Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Tuesday chaired a review meeting to assess the prevailing security environment in the Persian Gulf and examine its implications for Indian maritime assets and personnel. "We are closely monitoring the evolving situation and have activated all necessary precautionary, monitoring and coordination mechanisms to ensure the safety and welfare of our seafarers and the security of our ..
Amid escalating tensions in West Asia in the wake of US-Israel strikes against Iran, a leading Indian-American maritime executive has voiced concern over the impact on the crucial oil artery of the Strait of Hormuz and implications for global oil prices. "Shipping is the hardest-hit industry in any such turbulence in the geopolitical situation," Chairman of maritime company Safesea Group Dr S.V. Anchan told PTI. "The Strait of Hormuz must not be allowed to be shut down," Anchan said, calling for urgent action to ensure safe passage of vessels in the area. Anchan said oil prices are expected to rise on Monday in the wake of the geopolitical developments in the region, but added that prolonged high oil prices will be bad for the economy. "It's in no one's interest globally, including the US," he said, adding that "blocking the Hormuz is no less than choking the people at large of the region, at a time when even the airspaces are also closed." There are estimates that already 150 tan