Maritime

Normal shipping in Strait of Hormuz still months away, say experts

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

Govt sets up Bureau of Port Security for ships and port facilities

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

Mumbai Port unveils ₹3,541 cr projects to boost cargo and waterfront growth

Mumbai Port Authority unveiled projects worth ₹3,541 crore, spanning berth upgrades, a marina, connectivity and waterfront development to boost cargo capacity and tourism

Indian Embassy working to repatriate body of seafarer who died in Oman

The Indian Embassy in Muscat on Sunday said it was working to facilitate the earliest repatriation of the body of an Indian national who died due to medical complications aboard a vessel in Oman waters. In a social media post, the mission said it remained in close touch with the family members of Nishanth Uirthanathan, crew members of the vessel MT Celestial and the concerned authorities. However, it did not provide details of the medical conditions that led to Uirthanathan's death. "The Embassy remains in active coordination with local Omani authorities, port officials and the shipping company regarding Mr Nishanth Uirthanathan, who unfortunately died onboard MT Celestial due to medical conditions," the mission said in a post on X. It further said that the vessel is soon expected to berth at Duqm port, located in the southeastern coast of the Gulf country. "Necessary arrangements have been made for prompt recovery of the mortal remains from the vessel," it said. "The Mission is

Britain detains sanctioned oil tanker linked to Russia's shadow fleet

Britain is investigating a sanctioned tanker that is suspected of being part of the Russian "shadow fleet," shipping oil in violation of international sanctions over Moscow's war on Ukraine, British Prime Minister Keir Starmer said Sunday. British armed forces boarded and detained the vessel, the Smyrtos, on Sunday in the English Channel, in what the country's Defence Ministry called "the first UK-led operation of its kind." The vessel will be held and monitored off the south coast of England for investigation, according to a statement by the Defence Ministry. The operation was carried out "in close coordination" with French authorities, who have previously intercepted a number of vessels linked to the "shadow fleet." Russia is believed to be using a fleet of hundreds of ships to evade sanctions over its war against Ukraine. "This operation delivers yet another blow to Russia and reminds those fuelling Putin's war in Ukraine that they cannot hide," Starmer said. UK authorities sai

Centre's ₹19k crore Bengal maritime plan expected to generate 62k jobs

West Bengal's ₹19,209-crore maritime pipeline aims to boost the blue economy, strengthen logistics and create over 62,000 jobs

Shipping insurance costs likely to fall 25% with Bharat Maritime Pool

Industry expects sovereign-backed maritime insurance pool to reduce war-risk premiums and improve trade certainty amid geopolitical disruptions

Road map set for Indian P&I club, says DFS secretary M Nagaraju

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

India plans 62 new vessels with Rs 51,383 crore investment in FY27

India plans to add 62 vessels with Rs 51,383 crore investment this year to strengthen maritime capacity and ensure resilience amid global supply disruptions

Straits and narrows: The high cost of closing global chokepoints

Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade

Govt responds to West Asia shipping insurance spike with ₹13k cr pool

The pool would cover all maritime risks like Hull and Machinery, Cargo, P&I and War risk, a statement by the cabinet said

Sagarmala Fin Corp eyes $1 billion FY27 fundraise to boost maritime lending

The state-owned company will raise the money through bonds, term loans and foreign-currency borrowings, said Managing Director LVS Sudhakar Babu

Shipbuilding ties to be in focus during South Korea President's visit

India and South Korea to prioritise shipbuilding cooperation during Lee Jae Myung's visit, alongside talks on semiconductors and small modular reactors

India sustains 7-7.5% growth; Bengal should go maritime: EAC's Sanyal

Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister, on Wednesday said that India has managed to sustain growth of 7-7.5 per cent while maintaining macroeconomic stability despite global uncertainties, while asserting that sequential growth with stability is key to achieving the goal of a "Vikshit Bharat". Sanyal also said that West Bengal should reposition itself as a maritime state and consider setting up a large port. Addressing a special session on 'India's Growth Story Navigating Global Challenges' organised by the Merchants' Chamber of Commerce & Industry (MCCI), Sanyal said it was a cliche to describe the present as uniquely uncertain, noting that the world had navigated crises such as the global financial meltdown and COVID-19 earlier as well. He said India's macroeconomic parameters remain "in good shape", citing lower inflation, fiscal balance and a relatively contained debt-to-GDP ratio. The government, he added, adopted a conservative fiscal .

CMA CGM places first Indian vessel order, eyes container and waterways push

CMA CGM has signed its first container vessel order with an Indian shipyard and is exploring container manufacturing, AI-led innovation, and deeper participation in India's maritime sector

Sagarmala Finance expecting at least ₹2K cr equity infusion from govt: MD

Ready to offer maritime debt at 30 bps lower than market rates, says CMD LVS Sudhakar Babu

Maritime call for Atmanirbharta: Why India needs a local P&I Club

A P&I Club is a mutual insurance association that protects shipowners, operators from third-party liabilities - covering risks such as oil spills, cargo damage, pollution, collisions, and crew injury

India's economic rise will be shaped 'at, from and by the sea': Navy chief

Emphasising the scale of global ocean-based commerce, the Navy chief noted that maritime trade has grown more than fivefold in recent decades, reaching 12.3 billion tonnes in 2023

₹25k crore borrowing limit approved for India's first maritime NBFC

₹8,000 crore earmarked to be raised for FY25, SMFCL to mobilise funds through leading banks, financial institutions and bond issuances