Since its launch in May 2023, India’s Bharat Maritime Insurance Pool (BMIP) has swiftly issued over 3,000 cargo-war insurance policies, enhancing domestic maritime insurance capabilities. With an underwriting capacity of approximately Rs 13,906.5 crore, the BMIP aims to reduce reliance on foreign insurers, supporting Indian shipowners and businesses reliant on maritime trade.
India strongly condemned the attacks on commercial shipping and seafarers during the Gulf conflict at the UN General Assembly, calling such actions “simply unacceptable.” The External Affairs Minister urged all parties to exercise restraint, emphasizing the need to protect civilians and ensure the uninterrupted flow of energy and commerce.
Oil prices fell about 1% as markets weighed potential US-Iran diplomatic progress against fears of Houthi attacks on Saudi Arabia, threatening supply. Brent futures dropped to $105.46 a barrel, while WTI fell to $93.56. Despite Friday’s decline, Brent saw a weekly rise of 2%, contrasting WTI’s 7% drop.
A significant fire broke out on the Ro-Ro cargo vessel Blue Carrier north of Mykonos, prompting a swift emergency response. All 28 crew members and one passenger evacuated safely using lifeboats. Greek authorities deployed multiple resources, including patrol boats and helicopters, to extinguish the blaze and prevent environmental damage.
The Ministry of Ports, Shipping and Waterways has officially designated four ports as India’s first “mega ports” under the Indian Ports Act, 2025: Mundra, Deendayal, Jawaharlal Nehru, and Paradip. This classification prioritizes performance, notably high cargo volumes, indicating a strategic shift in India’s maritime infrastructure focus.
The Cape Falcon, a large bulk carrier, was successfully refloated after being stranded for six days near Gladstone, Queensland. Weighing 182,066 deadweight tons, the vessel ran aground on September 18. Following unsuccessful initial attempts, a salvage plan was implemented, and it was freed during high tide on September 24.
The Puntland Maritime Police Forces (PMPF) successfully rescued the oil tanker MT SIBU 1 from Somali pirates after a fierce firefight off Mudug’s coast. Three fatalities occurred, alongside multiple injuries. The Eritrea-flagged vessel, previously hijacked and under US sanctions, now has its crew of 20 secured and safe.
The recently launched “Group of Friends on Safety & Security of Shipping & Seafarers,” co-chaired by India and Liberia, aims to enhance maritime safety. With representatives from 25 countries, the coalition seeks to combat piracy, protect commercial routes, and prioritize seafarers’ welfare in response to rising threats against global shipping.
The establishment of a Seafarers’ Welfare Centre at Mormugao Port has received official approval, backed by Rs 13 crore from the Seafarers Welfare Fund Society. This initiative aims to enhance support for maritime professionals and includes proposals for a Seamen’s Club, improving facilities and education in the maritime sector.
A senior Yemeni official has expressed alarm over the Houthi militia’s manipulation of maritime security in the Red Sea and Bab al-Mandab, labeling it a serious threat to Yemen and the global economy. He cautioned against trusting the Houthis’ “false promises,” emphasizing the need for sustainable maritime security amid ongoing conflict.
The Directorate General of Maritime Administration (DGMA) has successfully facilitated the timely welfare and repatriation of 15 Indian seafarers stranded in Guinea. After enduring non-payment of wages on the MV GOLDY SEVEN, the DGMA, alongside the Seafarers Welfare Fund Society and the Indian Embassy, provided immediate support for essentials and arranged their return to India.
World leaders have unanimously endorsed the UN Declaration on Sea Level Rise, establishing a comprehensive framework to address the humanitarian and legal challenges posed by rising sea levels. Emphasizing international cooperation, the declaration aims to protect coastal communities, support small island nations, and ensure adaptation funding, as nearly 900 million people face risks.
India and Liberia have established a “Group of Friends” to enhance shipping safety and protect seafarers amid rising threats, particularly in the Strait of Hormuz and Bab-el-Mandeb. This initiative, announced during the 81st UN General Assembly, aims for international cooperation to address increasing attacks on maritime commerce.
The fishing vessel Argos Georgia sank after a line-hauling hatch opened unexpectedly in rough seas, claiming 13 lives of its 27 crew members. An investigation revealed that inadequate safety measures and faulty equipment contributed to the disaster. Recommendations included automatic locking systems and improved emergency protocols for fishing vessels.
U.S. and Iranian negotiators in New York are exploring a phased approach to resolve ongoing tensions, focusing on reopening the Strait of Hormuz and lifting sanctions. While Iran seeks economic relief, the U.S. insists on unrestricted vessel passage. Both sides face challenges in yielding leverage, with military tensions escalating.
