Shipping Industry

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

The shipping ministry on Thursday extended the scheme for providing subsidies to Indian companies flagging merchant ships in India for five years until the financial year 20230-31. The scheme for the promotion of flagging of merchant ships in India has been extended for a further period of five years, till FY 2030-31, reinforcing India's commitment to strengthening its maritime fleet and global shipping presence, the Ministry of Ports, Shipping and Waterways said in a statement. In order to achieve the objective of Atmanirbhar Bharat, the Union Cabinet, in July 2021, approved a scheme with an outlay of Rs 1,624 crore over five years for providing a subsidy to Indian shipping companies bidding for global tenders floated by ministries and central public sector enterprises for imports of government cargoes. The scheme was announced by Finance Minister Nirmala Sitharaman during her budget speech for FY22. According to the scheme, for a ship flagged in India after February 1, 2021, whic

The Strait of Malacca, which runs between Indonesia, Malaysia and Singapore, is one of the world's busiest shipping lanes and a strategic bottleneck for Asia

CMA CGM has reflagged its fifth vessel under the Indian flag, aligning with India's push to expand its shipping fleet and strengthen its role in global maritime trade

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

Iran says that the Strait of Hormuz was open to all commercial vessels during a 10-day Lebanon ceasefire accord

Indian insurers plan $100 million marine insurance pool to cover war risks for ships amid West Asia conflict, with possible government support and rising premiums

Shipping minister asks maritime players to avoid profiteering amid West Asia crisis, ensure transparency in charges and faster cargo clearance at ports

Regulator asks operators to pass on benefits directly and seeks proof of higher insurance costs, warning action over unjustified charges

Shipping is the biggest obstacle for India in source fuels

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

State-run refiners defer maintenance and ramp up LPG output as vessels clear Strait of Hormuz, while government tightens supply monitoring amid ongoing West Asia tensions

SCI needs approx ₹6,000 crore to invest as equity in Bharat Container Line, oil tanker biz with OMCs

Shipping disruptions in the Gulf due to the ongoing West Asian conflict are forcing luxury carmakers to fly supercars to wealthy customers, as air freight costs surge and new orders slow in the region

Global carriers such as MSC, Maersk, CMA CGM and Hapag-Lloyd have told customers they may discharge containers at alternative ports, invoking a long-standing maritime contract clause

ShipMin and DFS are in talks to set up a domestic P&I club as West Asia tensions push up marine insurance costs for shipping lines and exporters

Before the war, about 80 oil and gas tankers crossed the strait daily, moving roughly 20 million barrels; Now, shipping has plunged, with barely one or two vessels able to pass each day

JNPA waives dwell time and reefer plugin charges for Middle East-bound export cargo stuck amid the West Asia crisis, while DG Shipping asks shipping lines to avoid opportunistic pricing

GIC Re's decision to withdraw war-risk cover in sensitive maritime zones highlights the fragile economics of marine insurance and raises concerns for Indian refiners dependent on global oil shipments