The Gujarat police are investigating a GST Input Tax Credit scam involving 200 benami companies at the Gujarat Maritime Board office in Gandhinagar. Information leakage related to ports is the focus of the probe, initiated by the DGGI. Eight individuals, including a journalist, have been arrested. Authorities are working to uncover the extent of the fraud.
In the last decade, cargo transportation via waterways has seen a significant sixfold increase, reaching 132.9 million tonnes in FY24. With ambitious government targets to transport 200 million tonnes by FY30 and 500 million tonnes by FY2047, projects like the Jal Marg Vikas Project are crucial in enhancing the efficiency of waterway transportation in India.
Union Minister Sarbananda Sonowal and Minister of State Shantanu Thakur highlighted the positive impact of lighthouse tourism on local communities and India’s maritime heritage. The Government aims to revitalize historic lighthouses, creating vibrant spaces for tourism, culture, and learning. Ongoing initiatives are transforming iconic lighthouses into centers of recreation and community engagement.
The Directorate General of Shipping in India has introduced new requirements for vessels at Indian ports. Port authorities must now verify the legitimacy of P&I insurance certificates, including premium payments, through approved insurers and IG Clubs. A draft notice mandates electronic submission of documents through the MSW by 2025 for transparency and efficiency.
The Cabinet, under Prime Minister Narendra Modi, has approved the Coastal Shipping Bill, 2024, and the repeal of Part XIV of the Merchant Shipping Act 1958, except for section 411A. This decision is set to benefit various stakeholders in the shipping industry, aiming to streamline operations and enhance the integration of inland waterway.
The Indian government is set to sell a 5% stake in Cochin Shipyard, a shipbuilding company, at a floor price of 1,540 rupees, valued at 20.26 billion rupees. This move is part of the government’s divestment efforts, with a total of 31.61 billion rupees raised so far in the fiscal year.
The Indian Maritime Centre (IMC) recently held its inaugural meeting, electing Devki Nandan as Chairman and Shankar Shinde as Vice Chairman. Capt Sankalp Shukla was appointed Secretary, and Capt Vikas Vij as Treasurer. R Ravi Kumar of IPPTA was named acting CEO. The board approved membership applications from ACTO and IR Class.
Prime Minister Narendra Modi recently highlighted the benefits of establishing a National Maritime Heritage Complex at Lothal, Gujarat, on LinkedIn. He emphasized the project’s potential for cultural and tourism sectors, aiming to showcase India’s maritime heritage. Modi’s post underscores the government’s commitment to preserving and promoting the country’s historical and cultural legacy.
According to DNV’s Expert report, India has the potential to become a hub for green shipbuilding with the focus on alternative fuels and renewable energy. Indian shipyards are being modernized to meet the global demand for green maritime assets. The government encourages investments and technology transfer from Japanese and Korean shipyards.
Russia and India are set to collaborate on constructing four non-nuclear icebreakers, with a projected cost of $713 million. The vessels will bolster Rosatom’s fleet in the Northern Sea Route. India, through talks with state-owned and private shipyards, aims to strengthen ties with Russia amid supply chain disruptions caused by Western sanctions.
India has been re-elected to the International Maritime Organisation (IMO) Council for the biennium 2024-25, showcasing its dedication to enhancing international maritime operations. With the highest number of votes, India aims to increase its representation at IMO and strengthen its influence in global maritime affairs. The council oversees IMO’s work under the assembly’s authority.
The Indian government is considering using its own funds to establish a P&I entity for insuring cargo vessels. Private insurers are expected to contribute later. Discussions are ongoing with stakeholders, aiming to cover coastal and riverine vessels initially. The plan involves international partnerships, a fixed premium framework, and involving global players for reinsurance management.
At the Hamburg Sustainability Conference, Union Minister Pralhad Joshi announced a $25 million investment to create hydrogen hubs at key Indian ports, enhancing the nation’s green shipping efforts. This initiative is part of India’s broader National Green Hydrogen Mission, aiming for significant decarbonization of the marine industry and sustainable shipbuilding advancements.
Months after the N. Chandrababu Naidu-led Telugu Desam Party (TDP) government returned to power in Andhra Pradesh, they are seeking investors to develop and operate ports in the state for cargo handling. However, this move has caused unrest in industry, with confusion whether the EOI pertains to existing ports or new ones.
The Regional Port Office in Asramam is hosting a conclave at the Kerala Maritime Institute to promote future maritime activities at Kollam and Vizhinjam ports. Experts from the Kerala Maritime Board will provide guidance to industry professionals on infrastructure, development, and opportunities for new entrants. The event aims to foster collaboration.
