Page 5 - Shipping Industry

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

SaaS firm Unicommerce bets big on Shipway to take on rival Shiprocket

The SaaS firm recently acquired remaining 57.24% in Shipway after securing 42.76% in December last year

India to explore green shipping and digital business with Singapore

India's green fuel and digital initiatives are set to enter the global trade through Singapore's marine and shipping industry, where over 55 million tonnes a year of bunker fuel is supplied to internationally operating vessels, making it one of the largest hubs. Trade sources said both India and Singapore are exploring the "Green Digital Shipping Corridor" that would link other international ports and marine industries, said observers on Wednesday. They said India's long-term preparation to export green fuel, green hydrogen and ammonia sits well with Singapore's strategic position to market the fuels to ships operating globally. India's Minister of Port, Shipping and Waterways Sarbananda Sonowal along with industry heavyweights is expected to visit the city state next week to set up a working programme with Singapore counterpart industries, according to the observers. Sonowal is focused on green shipping and digitisation of the ports to make India a global leader in the maritime ..

Harry Singh Banga's Caravel Group sets sail on a zero-carbon mission

Banga acknowledges that companies have no choice but to adapt, despite energy transition ships running on dual fuels costing up to 20 per cent more than conventional vessels

OMC-ShipMin talks for manufacturing domestic large vessels pick up pace

Shipping Ministry wants sectoral players to provide long term contracts for shipowners

French shipping firm CMA CGM to invest $20 bn in US, create 10K jobs: Trump

This massive investment will go toward building out shipping, logistics, infrastructure, and terminal expansion

ShipMin eyes salt lands for infrastructure expansion in major ports

Last year, DPIIT had sought unused salt lands from Centre and states

Honeywell to decarbonise shipping and aviation businesses in India

Company exploring ways to increase production of sustainable jet fuel

Maritime fund to spur Rs 1.5 trn investment by 2030: Sarbananda Sonowal

The Rs 25,000 crore MDF will give a strong start to India's shipbuilding journey tells Sonowal

Crew abandon Hong Kong-flagged container ship in Red Sea as fire engulfs

An explosion struck a Hong Kong-flagged container ship on Tuesday travelling north through the Red Sea, sparking a major fire that forced its crew to abandon the vessel, shipping industry officials said. The ship was drifting and ablaze some 225 kilometers (140 miles) off the coast of Hodeida, a port city in Yemen held by the country's Houthi rebels, said the Diaplous Group, a maritime firm. It wasn't immediately clear what caused the fire in the Red Sea, which has been repeatedly targeted by attacks from the Houthis. The rebels said last week they were was limiting their assaults following a ceasefire in the Israel-Hamas war in the Gaza Strip. The Houthis did not immediately acknowledge the fire incident. The vessel was abandoned and the crew later rescued unharmed, another maritime industry official told The Associated Press. The official spoke on condition of anonymity as authorization hadn't been given to speak publicly about the incident. The official described the cargo aboar

Union Budget 2025-26: Ships likely to be granted infrastructure status

Inclusion in the harmonised master list of infrastructure sectors will allow developers in the sector access to infrastructure lending at easier terms

JNPA will become first Indian port cross 10 mn TEU capacity mark: Wagh

JNPA is expected to maintain steady growth, focusing partly on the under-construction Vadhvan Port

Cargo handling capacity reached 133 MMT in last 10 yrs: Sarbananda Sonowal

Union Minister Sarbananda Sonowal informed that cargo handling capacity has reached 133 million metric tonnes in the last ten years.Speaking at the 2nd Inland Waterways Development Council (IWDC) meeting in Kaziranga a day earlier, Sonowal said,"In the last 10 years, our cargo handling capacity has reached 133 million metric tonnes... More than Rs 60,000 crores of investment have been made in our National Waterways... In the inaugural session of the Inland Waterways Development Council, we inaugurated projects worth Rs 1400 crores for 21 states of our country...," he said."We aim to increase our cargo capacity to 200 million metric tonnes by 2030 and invest more than Rs 50,000 crore in this sector in the next 5 years...," the minister added.The IWDC, the apex body for policy deliberation on the promotion & propagation of inland waterways in India, witnessed major announcements to boost infrastructure along national waterways on Friday.The meeting also witnessed ministerial ...