Shipping Industry

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

Danish shipping major AP Moller-Maersk has placed an order for 1,000 containers with DCM Containers, marking the first such order by a global carrier from an Indian manufacturer

Shipping activity through the Strait of Hormuz remains subdued despite easing tensions, with experts expecting normal operations to resume only after de-mining and security measures are completed

India aims to recycle nearly 16,000 ships over the next decade, and the country has announced a financial commitment of USD 8 billion to support the growth of the shipbuilding and ship recycling sectors, Union Shipping Minister Sarbananda Sonowal said on Wednesday. According to an official statement, India and the European Union have reaffirmed their commitment to strengthening cooperation in sustainable ship recycling, with both sides expressing confidence in the progress made in facilitating the inclusion of Indian ship recycling facilities under the European Union Ship Recycling Regulation (EUSRR). During discussions between Union Minister for Ports, Shipping and Waterways Sonowal and European Commissioner for Environment, Water Resilience and a Competitive Circular Economy, Jessika Roswall, the two sides reviewed the ongoing audit and compliance process for Indian ship recycling yards, seeking recognition under the EU regulatory framework, it added. Sonowal further said expandi

Government sets up the Bureau of Port Security under the shipping ministry to strengthen vessel, port and cyber security, with CISF playing a key oversight role

Shipping minister says the Galathea Bay transhipment terminal project will proceed as planned, despite opposition over environmental and tribal concerns

While oil markets have reacted positively to the Strait of Hormuz reopening, supply chain disruptions and a massive shipping backlog mean global energy markets may take months to fully recover

Industry executives expect war-risk insurance rates to soften further if the US-Iran agreement leads to sustained reopening of the Strait of Hormuz and lower regional tensions

DG Shipping has advised shipping companies to restrict deployment of Indian seafarers in the Strait of Hormuz and Gulf region amid escalating security risks and attacks on commercial vessels

The Directorate General of Shipping (DGS) has advised maritime recruitment and placement agencies to restrict deployment of Indian seafarers to conflict areas until further orders, days after three Indian seafarers onboard MT Settebello were killed after the US military strike on the commercial vessel off the Oman coast. DG Shipping in a circular said masters of vessels operating in or transiting through the Gulf region, including the Strait of Hormuz and adjoining waters, are advised to maintain heightened security awareness, closely monitor navigational warnings received and advisories issued from Security agencies, and implement all applicable ship security measures and Company Security Procedures. "This Directorate further reiterates that all RPSL companies and shipping companies (maritime recruitment and placement agencies) are advised to restrict deployment or send Indian seafarers to conflict areas until further orders. However, companies may carry out crew change in emergency

Cochin Shipyard reported a net profit of ₹277 crore, down 3.7 per cent from ₹287 crore in the corresponding quarter of previous fiscal

West Asia bound vessels to benefit from coverage under Bharat Maritime Insurance Pool