Shipping Industry

AI can save India up to ₹20,000 crore in port cargo handling: EAC-PM member

India needs to embrace new technology and can save up to Rs 20,000 crore by using AI for cargo handling at ports, said Member of Economic Advisory Council to PM Gourav Vallabh on Tuesday. Speaking at session 'AI-Powered Ports: Reimagining Efficiency and Operations' at the AI Impact Summit here, Vallabh said India is emerging as a global leader in the field of new technology. "There is an approximate saving by uses of AI of Rs 20,000 crore in our handling.. And every year we can save Rs 15,000 crore as far as the logistic cost is concerned," he said. The question is not whether AI will transform India's ports, Vallabh said adding "the question is whether we are going to lead it or not." He noted that India's logistics cost at 7.97 per cent of GDP is competitive, "but for Viksit Bharat 2047 aim, our ports should be intelligent and should have intelligent ecosystem." He said India needs accelerated policy initiatives to reduce the logistics cost. He pointed out that 95 per cent of

Velocity to invest ₹100 crore over 2 yrs to expand AI-led shipping platform

E-commerce enablement platform Velocity on Monday said it has earmarked Rs 100 crore to scale its logistics business, Velocity Shipping, over the next two years. The investment will be funded entirely through internal cash reserves and revenues from the company's core businesses. Since its launch in 2025, Velocity Shipping (formerly Shipfast) has onboarded over 900 brands. The platform is currently witnessing 70 per cent month-on-month growth in order volumes, according to a company statement, and now contributes nearly 40 per cent of Velocity's overall revenues. The Rs 100 crore investment will be directed toward strategic hiring, product development, and AI-led innovation across the logistics value chain. The company plans to double its shipping team and has already made senior hires to strengthen its last-mile capabilities. Velocity Shipping works with multiple third-party logistics (3PL) partners, including Delhivery, Ekart, Amazon, Blue Dart, Blitz, Pikndel and XpressBees, an

Maritime stakeholders join hands to form new national container carrier

State-owned maritime entities have signed an MoU to form Bharat Container Shipping Line, aimed at strengthening India's export-import logistics and reducing freight volatility

Maersk to resume using Suez Canal route that could bring down freight rates

Shipping companies are weighing a return to the critical Asia-Europe trade corridor after vessels were rerouted around Africa in late 2023 after attacks in the Red Sea by the Houthis

India to deepen engagement with Singapore-based ship safety agency

India, a founding member of the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP), is set to deepen its engagement with the Singapore-based Information Sharing Centre (ISC) of the grouping, its Executive Director Vijay D Chafekar has said. "We expect closer cooperation with the Maritime Rescue Coordination Centre (MRCC), the Indian Focal Point of ReCAAP, for promoting safe and secure seas in Asia," Chafekar told PTI on Saturday. India is one of the founding members of the 21-nation ReCAAP, which was established as a regional, government-to-government institution for enhancing maritime security and ship safety. The grouping is also drawing interest from countries beyond Asia, Chafekar said. Most of the attacks on ships are now for stealing engine and machinery spares for which there is demand in parallel markets. There has not been any incident of kidnapping of crew or hijacking ships in recent years, said the retired Additional ...

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

Exempt vessel sharing agreements from competition law: ShipMin to MCA

The exemption under Section 3 lapsed in 2021; the ministry's October 2024 draft proposed a three-year dispensation with conditions on Indian-flag vessels and space for Indian NVOCCs

JNPA container traffic rose 13% to hit record 7.94 mn TEUs in 2025

Overall cargo in 2025 reached 99.17 million tonnes, up 9.86 per cent Y-o-Y

Datanomics: Better Russia ties likely to push shipbuilding sector

India's shipbuilding ambitions gain traction as Russia eyes joint polar-vessel production and HD Hyundai plans a Tamil Nadu shipyard, even as private yards outpace public ones

Why did Seamec share price zoom 7% on December 11? Find all details here

At 12:15 PM, Seamec share price was trading 2.98 per cent higher at ₹1,043.70 per share. By comparison, BSE Sensex was trading 0.44 per cent higher at 84,762.60 levels.

Knowledge Marine zooms 43% in 2 months; here's why stock hit new high

The company received a work order from New Mangalore Port Authority for the hiring of One number of River Sea Vessel type IV Security Patrol Boat with all manpower excluding High Speed Diesel.

Russia plans shipbuilding foray in India: First Deputy PM Manturov

Russia is exploring joint production of Arctic-class vessels in India, deepening maritime and logistics cooperation as cargo flows rise across the Chennai-Vladivostok and North-South corridors

Shipping rates surge 467% on conflicts, sanctions, supply disruptions

Vessels are spending more time at sea transporting cargo, contributing to the spike, and several shipping executives expect tightness in the broader market to continue

French shipping firm CMA CGM mulls operations in India's waterways

India will be in global maritime's "premier league" after Vadhavan Port, says SVP Ludovic Renou

Swan Defence hits record high on LoI win for $220 million shipbuilding deal

Around 11:00 AM, Swan Defence share price continued to remain locked in the 5 per cent upper circuit at ₹1,036.45 per share. By comparison, BSE Sensex was trading 0.46 per cent lower at 83,148.86.

Ports, shipbuilding, and logistics: APM-Maersk charts bold India plan

Maersk eyes India's maritime boom with $2 billion plan for ports, shipbuilding, and logistics as global supply chains shift and India positions itself as a shipping and manufacturing hub

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 maritime sector to create 15 mn jobs by 2047: Hardeep Singh Puri

The maritime sector is expected to attract Rs 8 trillion in investment and create around 1.5 crore jobs by 2047, said Hardeep Singh Puri, Minister of Petroleum and Natural Gas

India to boost local fleet to achieve shipbuilding self-reliance: Sonowal

Sonowal said that in the past 11 years, India's port capacity has doubled from 1,350 million tonnes per annum (MTPA) to 2,700 MTPA

IMO's net-zero framework: Industry at sea over carbon-levy decision

UN maritime body defers vote on key carbon levy till 2026, leaving global shipping industry uncertain on decarbonisation timelines and investment clarity