GIC Re Launches Maritime Insurance Fund to Protect Sea Lanes

The Bharat Maritime Insurance Pool (BMIP), managed by the General Insurance Corporation of India, aims to bolster India’s maritime trade resilience and reduce reliance on foreign insurers. With a coverage capacity of $1.5 billion per loss, the initiative addresses rising global war-risk insurance costs amid increasing geopolitical tensions, ensuring uninterrupted trade.

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Unlocking India’s Potential in Maritime Decarbonisation

India is advancing in maritime decarbonisation by utilizing renewable resources and green fuels. The report, Opportunities Ahead: Insights on Maritime Decarbonisation in India, highlights ongoing initiatives and sector strengths. However, challenges like securing agreements and infrastructure gaps must be addressed to ensure a successful transition to sustainable shipping practices.

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ISWAN India 2026 Wellbeing Initiatives for Seafarers, Families and Shore Staff

ISWAN, in collaboration with the ISWAN India Association, is launching interactive sessions to support the wellbeing of seafarers, their families, and shore staff. Programs include the Family Outreach and Seafarer Education Awareness sessions, addressing the maritime community’s needs. Registrations close one week before each session. Visit ISWAN’s website for details.

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Concerns Raised Over Maharashtra Maritime Board’s New Ad Regulations

The Awaaz Foundation has urged Maharashtra’s Chief Minister Devendra Fadnavis to intervene against the proposed advertising regulations by the Maharashtra Maritime Board. Concerns include light pollution, biodiversity loss, and visual degradation of coastal areas. They emphasize the need for public consultations and stricter regulations to protect the environment and public health.

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ICGS Achal Joins Indian Coast Guard Fleet to Boost Maritime Security

On May 9, the Indian Coast Guard commissioned the ICGS ‘Achal’, a fast patrol vessel by Goa Shipyard Limited. This advanced addition boosts India’s maritime security and coastal surveillance. Named ‘Achal’, meaning “firm,” it symbolizes the Coast Guard’s commitment to safeguarding maritime interests, constructed with over 50% indigenous components.

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