Maritime Sector

Strait of Hormuz reopens, but Iran wants to control shipping routes

Ships are moving through the Strait of Hormuz again, yet Iran's opposition to UN-backed routes shows the conflict has shifted to control over maritime access

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

India's share in ship recycling rose to 35.4% in 2025: Shipping ministry

India emerged as the world's leading ship recycling nation in 2025, aided by policy reforms, yard modernisation and measures to strengthen the domestic ecosystem

India charts course for homegrown maritime insurer blueprint: Study

India faces $45-60 mn foreign outflows in P&I costs, according to a govt study

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

Govt extends subsidy scheme for firms flagging merchant ships until FY31

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

War-risk premiums surge: Can ₹12,980 cr maritime pool steady trade costs?

War-risk premiums have surged sharply, raising shipping costs. India's ₹12,980 crore Bharat Maritime Insurance Pool aims to stabilise coverage, but whether it can make trade cheaper remains uncertain

CMA CGM reflags fifth vessel in India as shipping expansion gathers pace

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

How South Korea tie-up could help India reduce costly freight dependence

New framework with South Korea links shipyard capacity, technology and orders to India's push to reduce reliance on foreign carriers

Chips to ships: South Korea, India must collaborate in additional sectors

Lee Jae-Myung's India visit highlights untapped potential in India-South Korea ties, from semiconductors to shipbuilding, amid a shared push for a stable Indo-Pacific

IMO prepares evacuation plan for hundreds of ships stuck in Persian Gulf

The plan can only be put into action when there are clear signs of de-escalation, according to Secretary General Arsenio Dominguez

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

Hoisting the Indian flag on the high seas: Maritime ambitions gather pace

$8 billion spent on foreign tankers could build a homegrown fleet to navigate India's energy, trade, and maritime ambitions through turbulent waters

Parliamentary Panel seeks relief for shippers hit by West Asia disruption

Parliamentary panel recommends insurance support, working capital relief and a long-term maritime resilience framework amid rising costs and supply disruptions

West Asia conflict: Stranded vessels running out of fresh water, food

DG Shipping warns of supply shortages on stranded vessels, rising freight and insurance costs, and potential disruptions to India's trade and energy security

Centre to prepare roadmap to tackle challenges in shipping sector

Shipping minister Sarbananda Sonowal asks officials to prepare a roadmap to address industry challenges as geopolitical tensions and supply chain disruptions strain maritime trade

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

Scheme to boost manufacturing of shipping containers on the table

Nascent estimates target Rs 12,000 crore outlay to achieve 600,000 containers production annually

Chennai to Arctic: India-Russia multiple pacts widen maritime corridors

India and Russia signed key maritime and transport MoUs to strengthen the INSTC, Chennai-Vladivostok corridor and Northern Sea Route, including training for Indian polar seafarers