Shipping Industry

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

The joint venture will operate, consolidate and expand Kochi's International Ship Repair Facility, adding capacity for Indian, regional and international vessel customers

Logistics major plans to add new ships while replacing ageing vessels as it invests Rs 400-500 crore annually to expand its fleet and multimodal network through FY30

Major ports outlined progress on green fuel bunkering hubs and shore power facilities as the government seeks to accelerate decarbonisation of India's maritime sector

The proposed Kendrapara cluster will have shipyards with a combined capacity of around 1.2 million gross tonnes a year and an integrated heavy industries ecosystem

Companies see opportunities in vessel equipment, propulsion, ship recycling and green fuels after India announced a ₹70,000 crore maritime support package and new clusters

The move comes at a time when nearly half of India's registered vessels are more than 20 years old

Asks stakeholders to develop a model in which security does not affect KPIs

A proposed Iran-Oman deal could give Tehran greater oversight of ships entering the Gulf via Hormuz, even as Houthi attacks keep regional shipping on edge

The revised policy allows capacity expansion at existing captive facilities, extends operational certainty and permits eligible government entities to access berths on a nomination basis

The Gujarat government on Monday launched its shipbuilding policy aimed at developing the state into India's leading maritime manufacturing hub through fiscal incentives, infrastructure development and skill creation, an official said. Chief Minister Bhupendra Patel launched the Gujarat Shipbuilding and Repair Policy 2026, which envisages setting up two Integrated Mega Shipbuilding Parks, increasing the state's shipbuilding capacity to more than 50 lakh Deadweight Tonnage (DWT) and attracting investments worth over Rs 27,000 crore, a government release stated. DWT is the maximum weight a ship can carry safely. The policy also aims to provide skill development and capacity-building training to over five lakh people. Speaking at the launch, Patel said, "This policy will create a globally competitive shipbuilding ecosystem in Gujarat and strengthen the state's role in achieving the vision of Viksit Gujarat 2047 and Aatmanirbhar Bharat." According to the state government, the policy .

Strait of Hormuz vessel traffic remains subdued amid US-Iran tensions, with India evacuating 59 ships as exporters brace for further maritime disruptions

Shipping minister Sarbananda Sonowal on Tuesday said he is deeply anguished by the loss of lives, including of four Indian seafarers, following a missile attack on merchant vessel MV Golden Leo departing Odesa, Ukraine. Sonowal in a post on X said India strongly condemns such attacks that endanger innocent civilian crew members and impede the freedom of navigation and commerce. "Deeply anguished by the tragic loss of lives, including of four brave Indian seafarers, following a missile attack on merchant vessel MV Golden Leo departing Odesa, Ukraine. My thoughts and prayers are with the bereaved families in this hour of immense grief," he said. "Our Mission in Ukraine, alongside the DGMA and RPSL, is closely monitoring the situation, conducting necessary verifications and ensuring all assistance is extended to the next of kin, on priority basis. "My prayers are also with the Indian sailor who is injured and currently hospitalised for his swift and full recovery," Sonowal said. Four

On Monday night, Iran hit two oil tankers from the United Arab Emirates with cruise missiles, killing an Indian crew member

Despite the 14-point memorandum of understanding signed between the US and Iran on June 18 to end conflict, carriers have preferred to use land routes from ports east of the Strait of Hormuz: Experts

India on Tuesday called for upholding the freedom of navigation, overflight and unimpeded commerce in the South China Sea, and backed a 2016 ruling by an international arbitral tribunal that rejected Beijing's extensive territorial claims over the resource-rich region. New Delhi's remarks on the South China Sea dispute came two days after the US, the UK and a dozen other Western and Asian countries reminded China about the tribunal's verdict that its expansive claims in the region are illegal. A joint statement was issued by the US, the UK and 12 other nations on July 12 commemorating the landmark verdict by the tribunal established in The Hague under the United Nations Convention on the Law of the Sea. China had rejected the ruling. "India's position on the South China Sea issue is well known. We emphasise the importance of upholding freedom of navigation and overflight, other lawful uses of the sea, and unimpeded commerce consistent with international law, as reflected in UNCLOS

Trump's comment came even as the US and Iran continue to exchange attacks that have raised concerns about safety

The exemption allows eligible IFSC GIFT City units to charter foreign vessels for EXIM and international trade without obtaining a licence under the Coastal Shipping Act

Renewed tanker attacks in the Strait of Hormuz have driven up war risk insurance costs, raising concerns over shipping, oil supplies, and maritime security

The official statement said that of the remaining five vessels, three are carrying urea and one is carrying ammonia. All are scheduled to leave for India in the next few days