Page 4 - Shipping Industry

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)

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