Page 4 - Shipping Industry

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)

PM Modi to dedicate Vizhinjam International Seaport to nation Friday

This comes after Karan Adani, managing director, Adani Ports and SEZ, indicated that the group will invest ₹20,000 crore more in Vizhinjam Port in addition to the already invested ₹5,000 crore

Walmart tells Chinese suppliers to resume shipments amid US trade war

Since the imposition of a 145% tariff on Chinese imports in the US, American logistics firms have reported a sharp decline in container bookings

French shipping company CMA CGM launches vessel under Indian flag

First foreign firm to fly the Indian flag on its vessel

Pahalgam terror attack: Merchant vessels told to be cautious at Pak ports

The regulator has asked all relevant stakeholders to be in touch with its office and monitor communications from it regularly

Maritime fundamentals remain strong despite US tariffs: Synergy Marine CEO

US reciprocal tariffs may cause friction in the short term for the maritime sector but over the long term, India's fundamentals remain strong, says Synergy Marine Group CEO. US President Donald Trump on April 2 imposed reciprocal tariffs on around 60 countries, including India, disrupting global trade. The US later suspended reciprocal tariffs until July 9 but has imposed base import tariffs of 10 per cent on all countries. On the likely impact of US reciprocal tariffs and trade uncertainty on the Indian shipping industry, Synergy Marine Group CEO Jesper Kristensen said, In the short term, they (tariff actions) may cause friction. Over the long term, India's fundamentals remain strong. The country's expanding port capacity, growing export base, and skilled workforce make it a resilient and adaptive player in global shipping, Kristensen added. Synergy Marine Group is a global ship management company. When asked about the impact of trade uncertainty on jobs in the shipping sector, .

Global container shipping volume to fall 1% on Trump trade policies: Drewry

That would be the third drop in global container shipping demand since London-based Drewry began collecting that data in 1979

Shippers rush to reach American shores amid 90-day tariff pause

To monitor how supply chains reshuffle; freight rates up for 2nd week in a row

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.

US reciprocal tariffs' fallout: Supply chains brace for disruption

For context, global sea freight rates had been going down over the past few months due to a previous build up which had caused rates to spike abnormally in 2024

Synergy Marine Group founder gets National Maritime Varuna Award

Director General of Shipping (DGS) Shyam Jagannathan presented the award in Mumbai during the 62nd National Maritime Day celebrations held on April 5, 2025

Centre introduces Indian Ports Bill 2025 to amend 117-year-old legislation

After previous opposition from states, bill takes reconciliatory approach on port powers, officials say

India, Singapore join hands for Green and Digital Shipping Corridor

India and Singapore on Tuesday signed a Letter of Intent (LoI) for Green and Digital Shipping Corridor (GDSC), with a focus on digitalisation and decarbonisation. The Singapore-India GDSC, when established, will enhance collaboration from both countries and help accelerate the development and uptake of zero or near-zero GHG emission technologies and the adoption of digital solutions, a joint release from Maritime and Port Authority of Singapore and Ministry of Ports, Shipping said. The minister of Ports, Shipping and Waterways Sarbananda Sonowal said his visit to Singapore with a high-level marine sector delegation will strengthen the long-standing relationship. Moreover, the "Comprehensive Strategic Partnership" will deepen and broaden cooperation between the two countries, he noted. Sonowal is on a three-day visit to Singapore and is attending the maritime week which is expected to see participation from 20,000 delegates and exhibitors from around the world. Under the LoI, both