Wirana Shipping has observed a positive shift in India’s ship recycling market, fueled by rising steel demand. Recent reports indicate increasing steel prices, with local plate prices up by $4/MT. While Bangladesh’s market struggles with sluggish demand and financing issues, optimism in India suggests potential for improved recycler prices ahead.
Oil and Natural Gas Corporation (ONGC) and Shell Energy India have signed a non-binding MoU to explore collaboration in deepwater oil and gas exploration and LNG sourcing. This partnership will enhance India’s energy landscape by attracting investments and addressing rising energy demand while tapping into international expertise for offshore projects.
On Tuesday, India’s High Commissioner to Seychelles, Rohit Rathish, delivered five laser radial boats to the Chief of Defence Forces, fulfilling a promise made by Prime Minister Narendra Modi during his June visit. This initiative enhances the Seychelles Defence Force’s seamanship skills, reinforcing the maritime partnership between India and Seychelles.
In July, India’s imports of Russian crude oil soared to 2.8 million barrels per day, comprising 55.5% of total crude purchases. This marked a significant increase amidst rising tensions in key shipping routes. Despite potential U.S. tariffs, Indian officials emphasize economic rationale over geopolitics in their oil procurement strategy.
Coastal shipping in India is undergoing a transformative shift, propelled by new policies and infrastructural advancements. With an 11,098 km coastline, its potential is now being harnessed, demonstrated by a projected cargo increase from 119.5 million tonnes in FY15 to 213.5 million tonnes by FY26, thanks to the Coastal Shipping Act of 2025.
In response to geopolitical tensions, India has expanded its liquefied natural gas (LNG) sourcing from six to 15 countries, enhancing energy security and mitigating maritime transit challenges. Additionally, crude oil sourcing has increased from 27 to 41 countries, aiming to reduce reliance on specific regions and improve resilience against supply disruptions.
The Oil and Natural Gas Corporation (ONGC) has contracted Shearwater Geoservices AS for 3D seismic surveys along India’s coasts. Two high-capacity vessels will survey the West and East coasts, starting in Q4 2026. These surveys aim to enhance geological mapping for potential oil and gas deposits, crucial for domestic energy exploration.
Sasikumar highlighted the challenges large vessels face, noting the limited crew size makes continuous deck monitoring difficult. He raised concerns about rising fire incidents, particularly from lithium-ion batteries, which can escalate rapidly. Dtyle.AI’s edge devices provide timely fire detection, demonstrating effectiveness even in low bandwidth conditions during a recent pilot at Chennai Port.
India has launched its first sovereign-backed maritime insurance initiative to enhance domestic capacity for shipowners and cargo stakeholders amid fluctuating geopolitical conditions. This initiative aims to provide essential support in a sector facing rising costs and risks, while also addressing the need for reliable insurance solutions in a volatile market.
The Government of India launched E-Samudra, a digital platform to modernize maritime governance, enhancing services for seafarers, shipping companies, and ports. Initiated by Union Minister Sarbananda Sonowal, it streamlines maritime processes with features like online payments and real-time tracking, emphasizing seafarer welfare and positioning India as a leading maritime player.
Union Minister for Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, recently met with stakeholders in Mumbai to address seafarer security, safety, and welfare amid geopolitical tensions affecting the shipping industry. Emphasizing the government’s commitment, he discussed collaborative efforts to enhance protections for seafarers, crucial for global trade and maritime operations.
The Ministry of External Affairs (MEA) has underscored the importance of safeguarding Indian vessels and seafarers following the sinking of an Indian-flagged ship in the Red Sea. MEA Spokesperson Randhir Jaiswal highlighted ongoing communication with local maritime authorities and 24/7 support for affected individuals, reaffirming India’s commitment to safe navigation.
In New Delhi, reports indicate a notable reduction in average turnaround times for Major Ports, dropping from 52.87 hours in 2021-22 to 48.84 hours by 2025-26. The World Bank’s Container Port Performance Index ranks Jawaharlal Nehru Port 22nd, reflecting ongoing efforts to enhance operational efficiency across various ports.
Reliance Industries has made headlines by securing a supertanker charter for $23 million to $25 million to transport Iraqi crude oil. This staggering fee highlights the rising shipping costs and vessel shortages in the Gulf due to security concerns. Reliance expects significant savings from discounts offered by Iraq’s oil marketer, SOMO.
The family of Deepak Gupta, a 22-year-old crew member missing after an attack near Ukraine’s Odesa port, expressed frustration over the Ministry of External Affairs’ lack of response. Despite multiple outreach attempts, they received no assurances. The Supreme Court has since directed the MEA to utilize diplomatic channels for assistance.
