Page 2 - Shipping Industry

GRSE inks $62.44 mn deal with Carsten Rehder to build four hybrid vessels

Garden Reach Shipbuilders & Engineers (GRSE) Ltd on Saturday said it has signed a contract worth USD 62.44 million with a Hamburg-based company for the construction of four hybrid multi-purpose vessels. The contract also includes a provision for an additional two hybrid propulsion vessels, a company statement said. "The agreement builds on the ongoing 7,500 DWT (deadweight tonnage) multi-purpose vessel project being executed at GRSE's Kolkata yard for the German shipping company Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG," the GRSE said. The deal was signed by Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding), GRSE, and Thomas Rehder, Managing Director, Carsten Rehder Schiffsmakler und Reederei, in the presence of senior officials of both organisations. The 120-metre-long and 17-metre-wide vessels will feature battery-assisted hybrid propulsion, improved fuel efficiency, and flexible cargo handling systems, aligning with International Maritime Organization ...

India set to attract investments worth ₹8 trillion in coming years: Sonowal

India is set to attract investments worth Rs 80 lakh crore, generate over 1.5 crore jobs, and accelerate green shipping practices in the coming years, Union Minister Sarbananda Sonowal said on Tuesday. According to an official statement, the ports, shipping and waterways minister further said India's maritime sector is undergoing a transformative shift, positioning the nation as a future global maritime superpower. "India's maritime growth story is about prosperity, sustainability, and pride in our heritage. We have already set course as India's blue economy aims to gain Rs 80 lakh crore boost, 1.5 crore jobs under Maritime Amrit Kaal Vision," the statement quoted Sonowal as saying. The statement said the government's flagship 'Sagarmala' programme is driving this change with 840 projects worth Rs 5.8 lakh crore under implementation by 2035. Already, 272 projects worth Rs 1.41 lakh crore have been completed. According to the statement, the upcoming Rs 76,000-crore Vadhavan Port in

India targets 5% share in global shipbuilding market by 2030, says MoS

Union minister Shantanu Thakur on Monday said the government has set a target of securing 5 per cent share of the global shipbuilding market by 2030 and developing 10 world-class shipyards with the support of public-private partnerships and international collaborations. India is moving towards becoming a global hub for sustainable shipbuilding, backed by policy reforms, technological innovation and strong industry-government collaboration, Thakur said, addressing via video conference the CII Conference in Goa on 'India's Shipbuilding Roadmap towards Maritime Amrit Kal Vision 2047'. "Shipbuilding is more than just an industry - it is a symbol of national strength and self-reliance. Our vision is to make India not just a participant, but a leader in sustainable shipbuilding, contributing to green growth, blue economy, and Atmanirbhar Bharat," the Minister of State for Ports, Shipping and Waterways said. "Our shipyard modernisation programme is ambitious yet achievable. We are targetin

India sees no drop in overall cargo shipments despite US tariffs: Sonowal

Amid concerns over the impact of a 50 per cent US tariff on Indian products, Union Ports Shipping and Waterways Minister Sarbananda Sonowal on Friday claimed that there has been no reduction in overall cargo shipments from India. Almost 90 per cent of India's foreign trade in terms of volume and 70 per cent of India's foreign trade by value is transported through sea routes. "We have not seen a reduction in overall cargo shipments from India," Sonowal told PTI when asked to comment on the impact of a 50 per cent steep tariff imposed by Washington on Indian goods entering the US. India and the US have been negotiating a bilateral trade agreement (BTA) since March. So far, five rounds of talks have been completed. After a 50 per cent duty was imposed on August 27, the US team has deferred its visit to India for the next round of talks, which was scheduled from August 25. No new dates have been finalised for the sixth round of negotiations. Amid tensions between India and the US, .

Japan's MOL plans to ramp up India fleet with domestically built vessels

Plans to become India's second-largest shipping firm

BS Infra Summit: India sets sail on ₹60,000 cr PPP course, says Sonowal

Ports ministry bets on PPPs, green corridors, and mega harbours to redraw trade routes by 2030

India reaches out to 100 nations for ₹10 trillion shipping investment

According to a presentation made by the shipping ministry, 25 global CEOs and around 10 regional business leaders will meet the Prime Minister in October

BS Infra Summit: Shipbuilding and logistics to anchor India's maritime map

Maritime sector weathers global uncertainties despite disrupted demand

We are going to become world's no 1 economy by 2047: Sonowal at BS Infra

India will be world's no.1 economy by 2047, says Sarbananda Sonowal, citing port expansion, shipbuilding push, ₹11.2 trillion capex, and new maritime laws at BS Infra Summit

Sanctions-hit Nayara Energy uses dark fleet to import oil, transport fuels

Nayara, which controls about 8 per cent of India's 5.2 million barrel-per-day refining capacity, has been struggling to transport fuel since being placed under EU sanctions

Court takes cognisance against ABG Shipyard in ₹22,000 cr bank fraud case

It is alleged that ABG Shipyard Ltd transferred huge amounts of money to its related parties, and thereafter, adjustment entries were made

State-run Shipping Corp of India to buy 26 local vessels in $2 bn deal

The ships will have cumulative internal volume of 1.18 million gross tonnes, and delivery will be staggered over several years as they are completed

Shreeji Shipping, Patel Retail to launch maiden IPOs on August 19

Shipping and logistics solutions provider Shreeji Shipping Global Ltd and supermarket chain Patel Retail Ltd are set to launch their maiden public issues on August 19. According to their Red Herring Prospectus (RHP), the IPOs will close on August 21, and the one-day bidding for anchor investors is scheduled for August 18. The two companies will announce the price band for their public issues on Monday. So far this year, 44 mainboard companies have launched their IPOs. In addition, two IPOs of BlueStone Jewellery and Lifestyle will open on August 11, followed by the issue of agro-based firm Regaal Resources on August 12. Going by the RHP, Shreeji Shipping Global's IPO is an entirely fresh issue of 1.63 crore equity shares with no offer for sale (OFS) component. The company plans to utilise Rs 251.2 crore from the IPO proceeds for the acquisition of dry bulk carriers in the supramax category on the secondary market, and Rs 23 crore for debt repayment. The flagship company of ...

Scrapping of US-sanctioned tanker in India shows dark fleet pain

Contract II, a decades-old tanker linked to Iran sanctions, was sold at a discount and dismantled in Alang, India, amid tighter enforcement and rising risks for ageing dark fleet vessels

Soon, mega shipbuilding component unit may come up in Thoothukudi

CREW and a foreign major to build South India's largest ship component unit in Thoothukudi, boosting Tamil Nadu's maritime ambitions and job creation

Trump tariff impact: Logistics players to realign supply chain network

There can be a realignment to Europe, Southeast Asia, and the Gulf Cooperation Council, as trade routes adjust

Sonowal to move shipping bill in LS; ST quota bill for Goa up for debate

Meanwhile, in Rajya Sabha, Union Home Minister Amit Shah will move a resolution to extend President's Rule in Manipur for a further period of six months

Indian shipowners urge Nayara to end vessel charters after EU sanctions

Indian firms seek charter exits with Nayara amid EU sanctions; company files Delhi HC plea against Microsoft for suspending digital access citing compliance

Exim matters: No substantial changes in new law on bills of lading

The bill of lading, issued by the carriers to the shippers, will continue to be a receipt for goods, evidence of the contract of carriage and a document of title to the goods

Maritime incidents involving India and its seafarers rose 22% in 2024

According to India's shipping regulator Directorate General (DG) of Shipping, the incidents resulted in 83 deaths and 61 injuries