Page 3 - Shipping Industry

Cochin Shipyard inks pact with Korea's KSOE to boost maritime cooperation

The MoU focuses on cooperation in several key areas, including joint exploration of new building opportunities in India and overseas, sharing of technical expertise, upskilling of the workforce, etc

ONGC to partner with Mitsui OSK Lines to build two ships to import ethane

The Very Large Ethane Carriers to be built under the deal will supply ethane feedstock exclusively to ONGC Petro Additions Ltd for its petrochemical factory at Dahej

Shipping ministry launches India's first maritime NBFC Sagarmala Finance

Sagarmala Finance Corporation to offer tailored funding to ports, MSMEs, and startups; standardised port tariffs and port readiness index also announced

Cargo ship carrying over 3,000 vehicles sinks in Pacific Ocean after fire

Salvage firm Resolve Marine confirmed the EV fire-damaged Morning Midas sank in deep international waters; all 22 crew were rescued, and pollution monitoring is ongoing

Kandla Port vows to ease vessel congestion for smooth edible oil imports

Gujarat's Kandla Port has pledged to address vessel congestion issues and ensure uninterrupted edible oil supplies, the Indian Vegetable Oil Producers' Association (IVPA) said on Monday. The assurance came during a meeting between industry representatives and Kandla Port Chairman Sushil Kumar Singh, aimed at resolving bottlenecks that have affected imports of palm oil and other edible oils. Singh outlined infrastructure improvements, including new 14-inch pipelines and preparations to handle edible oil at two additional berths with dedicated pipelines, the IVPA said in a statement. The port authority agreed to maintain its existing system of imposing penalty charges for delayed vessel discharges rather than moving ships to outer anchorage for re-berthing, which creates additional costs for importers, the association said. Singh emphasised the need for coordination between port officials and importers to minimise delays after vessels dock, and urged vessel agents to flag potential .

West Asia conflict: Exporters in dire straits as Hormuz trade route erupts

China-Gulf spot rates climb 55% in a month as tensions mount

Atmanirbharta in shipping a key goal of maritime policy: Sarbananda Sonowal

Minister Sonowal says India is working with global partners to boost shipbuilding tech, establish smart islands, and enhance seafarer employment under Make in India

Oil extraction from MSC Elsa 3 to take more time due to monsoon season: DGS

The Directorate General of Shipping (DGS) on Wednesday said that due to the prevailing peak monsoon conditions and associated operational risks, it will take more time to extract oil from the Liberian-flagged ship that sank off the Kerala coast last month. The DGS said that the present weather conditions provide only a "narrow and fragmented working window", which is unsuitable for "stable and safe" oil extraction efforts. "Further delay would provide a more reliable window to safely conduct hot tapping and oil recovery," it said. It further said that the vessel Nand Saarthi -- from where saturation diving operations for oil extraction were to be conducted -- remains at Kochi port due to prevailing adverse sea conditions. "Upon improvement in weather, it will sail to the wreck site. Oil recovery equipment onboard Nand Saarthi is to be transferred to Canara Megh for the next phase. All accessories and gases remain available and are being held for deployment once the new contractor .

SCI, GE Shipping in focus as Baltic Dry Index up 47% in 1-mth; time to buy?

The Baltic Dry Index now quotes at a 8-month high. Technical charts hint at a potential 36 per cent upside for select shipping stocks like SCI, Dredging and Seamec. Details here

Banga family's Caravel becomes biggest shareholder in Pacific Basin

Caravel disclosed a 7.5 per cent stake in late March, and since then it has steadily expanded its holding in Pacific Basin

GE Shipping, SCI soar up to 12% on heavy volumes in weak market

Share price of Shipping Corporation of India has rallied 12% to ₹230.50, while Great Eastern Shipping surged 7.5% to ₹1,047.25 in intra-day trade, as compared to nearly 1% decline in BSE Sensex.

World's largest container ship docks at Vizhinjam International Seaport

MSC IRINA boasts of an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping

Piyush Goyal discusses opportunities in Indian shipping sector with S'pore

Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with Singapore's Deputy Prime Minister Gan Kim Yong and discussed ways to boost economic ties and huge opportunities in the Indian shipping sector. Goyal is here on an official visit to meet French leaders and businesses to host trade and investments between the two countries. In the last three-days, the minister has held a series of meetings with top CEOs and ministers, including International Energy Agency ED Fatih Birol, Nigeria's trade minister Jumoke Oduwole, French minister of economy and finance Eric Lombard, automotive supplier company Valeo Group CEO Christophe Perilat, and L'Oreal Groupe CEO Nicolas Hieronimus and highlighted huge investment opportunities in India. Goyal, in a post on X, said that he held a meeting with Gan Kim Yong, Singapore's Deputy Prime Minister and Minister for Trade and Industry. "Discussed enhancing our bilateral trade & investment ties. Also, highlighted the tremendous ...

India to revamp maritime rules for emission goals; shipping costs to rise

New regulations to align with IMO's net-zero targets will reshape ship design, port infrastructure, and training; compliance costs could reach $100 million annually by 2030

Boat capsize: Kerala on high alert, efforts on to avert major marine crisis

All company representatives of MSC have arrived in Kochi and have been advised to visit both the Indian Coast Guard and MMD offices, Sonowal said

Ports, vessels on heightened maritime security measures, blackout protocols

The shipping regulator earlier banned all vessels from Pakistan from docking at Indian ports

Import ban, shipping restrictions on Pakistan to start showing impact soon

Most shipments from Dubai take about nine days to reach Indian ports; thus, the shipping ban as well as the indirect import ban will only start showing up by this weekend, say experts

IMO's carbon levy to add 5% to Indian fleet's freight rates, says DGS

Impact on Indian ships $100 million, saves $2 bn compared to EU's proposal, says DG Shipping

PM Narendra Modi opens Vizhinjam port, says capacity ramp up soon

Port to bring back 75% of India's transshipment cargo from foreign shores

Adani's Vizhinjam port to expand capacity with launch of second phase

The Vizhinjam transshipment terminal, which began operations in July and has handled about 250 container ships so far, is forecast to attract about Rs 9,500 crore ($1.1 billion)