Budget Overlooks Major Port Reforms and Allocates Increased Funding for Maritime Sector

India’s Union Budget for 2026-27 continues to label major state-owned ports as “trusts,” overlooking reforms from the Major Port Authorities Act of 2021. This act aimed to grant autonomy to ports, replacing the trust model. Despite a 48% funding increase, inconsistencies in terminology and allocations raise concerns about strategic port management.

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CDV Wealth Unveiled to Enhance Seafarer Finances

Circle Digital Ventures has launched CDV Wealth, a revolutionary digital financial platform designed for seafarers. This tool enables secure and straightforward financial management worldwide. Key features include a multi-currency wallet, instant cross-border transfers, and a Visa Platinum debit card. CDV Wealth addresses cash dependence and streamlines payroll for shipowners.

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Indian Coast Guard Fast Patrol Vessel Amulya Enhances Maritime Security with Advanced Indigenous Technologies

The Fast Patrol Vessel Amulya, measuring 51 meters and displacing 320 tonnes, is powered by dual 3,000 KW diesel engines, achieving speeds of 28 knots. Its advanced propulsion system, featuring indigenously developed Controllable Pitch Propellers, enhances maneuverability, enabling it to perform vital maritime missions, including surveillance and search-and-rescue operations.

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Importance of Transparency in Seafarers Recruitment

Recent reports reveal troubling trends in the recruitment of seafarers, many of whom lose contact with their families for extended periods. One case highlighted a seafarer returning home with significant psychological trauma, reflecting a pattern of deceptive recruitment tactics that exploit economic vulnerabilities, emphasizing the urgent need for improved industry oversight and support.

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Ensuring Sustainable Funding for Seafarer Welfare During Port Visits

New Zealand has set a precedent by allocating port fees for seafarer welfare services during visits. Advocate Paul MacGillivary urges Australia to adopt this model to meet Maritime Labour Convention standards. With over 500,000 seafarers docking annually, enhanced funding for welfare services is crucial to support their mental health and well-being.

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EUCAP Somalia Boosts Puntland Maritime and Financial Guard Units

EUCAP Somalia’s Field Office in Puntland has significantly enhanced local law enforcement by donating maritime communication equipment and fingerprint scanners to the Puntland State Police. This initiative aims to improve maritime surveillance and coordination, while the new fingerprint scanners will aid in tackling financial crimes and cross-border illicit activities, strengthening regional security.

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Aerial view of a container terminal

India Signs MoU to Establish Bharat Container Shipping Line

The Union Government has made strides in developing a domestic container ecosystem by signing a Memorandum of Understanding for the Bharat Container Shipping Line (BCSL). This initiative, endorsed by Ministers Sarbananda Sonowal and Ashwini Vaishnaw, aims to improve coordination among shipping, ports, and rail logistics, addressing exporters’ challenges.

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