Shipping

Global shipping companies make a beeline to reflag vessels in India

The move is part of a larger strategy discussed by global companies with PM Narendra Modi to base their tonnage in India

India's tryst with shipbuilding: Govt rolls out ₹70,000 crore revival plan

India and Brazil are among countries facing the steepest tariffs imposed by the US

US, China to roll out tit-for-tat port fees on shipping amid trade tensions

Early this year, Trump's administration announced plans to levy the fees on China-linked ships to loosen that country's grip on the global maritime industry and bolster US shipbuilding

Bulgaria arrests Russian ship owner wanted in 2020 Beirut port blast case

Bulgarian authorities confirmed on Tuesday they have arrested a Russian ship owner wanted in Lebanon whose vessel is linked to a cargo of ammonium nitrate at the centre of the massive 2020 port explosion in Beirut. Igor Grechushkin, 48, was arrested at Sofia International Airport on September 6 upon arriving from the Cypriot city of Paphos, according to Zdravko Samuilov, head of the border police at the airport in the Bulgarian capital. Grechushkin, who holds a dual Russian-Cypriot citizenship, did not resist arrest, cooperated, and nothing suspicious was found in his luggage, the police chief said. The arrest, which was first reported by Lebanese officials on Tuesday, was based on an Interpol red notice. Following a court order, Grechushkin was placed in detention for a maximum of 40 days, Samuilov said. Bulgaria has also requested the necessary documents for Grechushkin before he can be extradited to Lebanon. A Lebanese investigative judge issued two arrest warrants through Inter

Japanese shipping major MOL in talks with govt to build ships in India

Japanese shipping major Mitsui OSK Liners (MOL), the world's second largest company in terms of fleet size, is in talks with the Indian government to build ships in the country to become part of India's maritime growth story, a top official said on Tuesday. MOL (India) South Asia Middle East Region Executive Officer Capt Anand Jayaraman said MOL (India) has re-registered 13 ships in India (10 under MOL India and 3 under IFSC) out of its total fleet of 935 vessels. "We are a shipowner company...India is where growth is, and the country has also announced a subsidy scheme for the shipping sector," he said in a media briefing. According to Jayaraman, the 141-year-old company is currently the 4th largest shipowner in India, and it aspires to become 2nd largest shipowner in India. "Aligning with the government of India's push, we are discussing with the government to build ships in India...Shipbuilding is a high capital-intensive business. We will work with shipyards," he said. Jayara

LS passes Merchant Shipping Bill; 2nd to be passed in Monsoon session

A bill to expand the eligibility criteria for ownership of merchant shipping vessels and provide for investigation and enquiries on marine casualties was passed by the Lok Sabha on Wednesday, after a brief discussion as the Opposition continued with its protests seeking discussion on poll roll revision in Bihar. As soon as the Bill was passed, the House proceedings were adjourned for the day amid noisy protests by the Opposition members. Union Minister Sarbnanda Sonowal made opening remarks following which two BJP members Captain Brijesh Chowta and Mukeshkumar Chandrakant Dalal spoke on the Bill, amid sloganeering by the Opposition over the Bihar poll roll issue. The Bill was later passed by a voice vote. This is the second Bill to be passed by the Lok Sabha in the ongoing Monsoon session, which has seen repeated disruptions by the Opposition on various issues. The Lok Sabha on Tuesday passed 'The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the

JSW Infrastructure bags ₹740 crore project to develop Kolkata port

The project comes with a 30‐year concession period under the government's initiative to privatise ports

US-China tariff truce: Indian shippers see cargo rush, freight rates surge

Indian shippers face double whammy of China rush, Ind-Pak restrictions

Pahalgam attack: Pakistan shuts ports for Indian ships in tit-for-tat move

In a directive issued by Pakistan's Ministry of Maritime Affairs, Indian flag carriers would no longer be permitted at any Pakistani port

India supports first global carbon tax on shipping industry at UN meet

India and 62 other countries on Friday voted in favour of the world's first-ever global carbon tax imposed on the shipping industry by the United Nations' shipping agency. The decision, taken at the International Maritime Organisation (IMO) headquarters in London after a week of intense negotiations, aims to reduce greenhouse gas emissions from ships and promote cleaner technologies. The move marks the first time a global carbon tax has been imposed on an entire industry. Starting 2028, ships will either have to shift to lower-emission fuels or pay a fee for the pollution they generate. The tax could generate up to USD 40 billion by 2030. However, all the funds will be used exclusively to cut emissions in the shipping industry and not for supporting climate action in developing countries. Despite this breakthrough in global climate policy, carbon pricing is expected to reduce shipping emissions by only 10 per cent by 2030, far short of the IMO's own target of at least 20 per cent.

Cordelia Cruises to expand fleet with two ships from Norwegian Cruise Line

With this, Cordelia Cruises, operated through Waterways Leisure Tourism in India, will more than double its current capacity, enabling it to explore new regions

Centre plans to evacuate more thermal coal through coastal shipping

Plan to evacuate more thermal coal via coastal shipping as Railways faces network congestion woes

SaaS firm Unicommerce bets big on Shipway to take on rival Shiprocket

The SaaS firm recently acquired remaining 57.24% in Shipway after securing 42.76% in December last year

Shipping chaos may continue till demand moderates

Since the Houthi attacks on commercial vessels started in the Red Sea towards the end of last year, major shipping lines have been re-routing their vessels around Africa

Greek-owned ship sinks in Red Sea after attack by Iranian-backed Houthis

Following the attacks by the Hamas terror group, tensions have boiled in the Middle East, with key regional actors condemning the humanitarian crises caused by the war, as reported by CNN

Baltimore bridge collapse: Attorneys seek to keep crew from returning home

Attorneys are asking a federal judge to prevent crew members on the cargo ship Dali from returning to their home countries amid ongoing investigations into the circumstances leading up to the deadly collapse of the Francis Scott Key Bridge in March. Eight of the Dali's crew members were scheduled to debark the ship and return home as early as Thursday, according to emails included in court filings Tuesday. The roughly two dozen total seafarers hail from India and Sri Lanka. That would mark the first time any of them can leave the ship since it lost power and crashed into one of the bridge's supporting columns shortly after leaving Baltimore on March 26. In the court filings, attorneys representing the City of Baltimore said the men should remain in the U.S. so they can be deposed in ongoing civil litigation over who should be held responsible for covering costs and damages resulting from the bridge collapse, which killed six construction workers and temporarily halted most maritime

Centre targets Rs 10,000 crore from monetisation of ports in FY25

Looks to monetise assets worth Rs 10,000 crore in FY25

Ship that caused Baltimore bridge collapse had blackout hrs before leaving

Investigators probing the March collapse of the Francis Scott Key Bridge in Baltimore said in a preliminary report on Tuesday the cargo ship Dali experienced an electrical blackout about 10 hours before leaving the Port of Baltimore while undergoing maintenance. The power outage was caused by a crewmember mistakenly closing an exhaust damper, causing the ship's engine to stall, the report issued by the National Transportation Safety Board said. The ship lost power again and crashed into one of the bridge's supporting columns shortly after leaving the port on March 26, which brought the bridge down in seconds. A full investigation could take a year or more, the agency said. The board launched its investigation almost immediately after the March 26 collapse, which sent six members of a roadwork crew plunging to their deaths. Investigators boarded the ship to document the scene and collect evidence, including the vessel's data recorder and information from its engine room, according

Shipping is a dirty business, but cleaning it up is lucrative; here's why

Investor's love for this exciting new company category may wane when the EV market picks up again, or the smartphone sector finally returns to growth. But, for now, ship maintenance is exciting

Ships moved 9% faster at Indian major ports in FY24 as infra improved

Greater participation by private companies is another reason for improvement