Commerce and Industry Minister Piyush Goyal met with Singapore’s Deputy Prime Minister Gan Kim Yong to strengthen economic ties and enhance India’s shipping sector. During his Singapore visit, Goyal discussed investment opportunities and addressed challenges faced by Indian exporters, emphasizing the new Maritime Development Fund aimed at boosting the domestic maritime industry.
Union Minister Shri Sarbananda Sonowal and Norway’s Crown Prince Haakon inaugurated the India Pavilion at Nor-Shipping 2025 in Oslo, marking India’s first appearance at the summit. The pavilion highlights India’s maritime capabilities and emphasizes collaboration in shipbuilding and marine technology. Sonowal invited Norway to partner in the National Maritime Heritage Complex.
India is actively seeking Norway’s collaboration on cultural, technological, and academic initiatives for the National Maritime Heritage Complex in Lothal, Gujarat. Union Minister Sarbananda Sonowal announced this during his visit to Oslo, where he joined Crown Prince Haakon to inaugurate the India Pavilion at the Nor-Shipping event, highlighting maritime capabilities.
India’s Ministry of Port, Shipping, and Waterways is converting Sagarmala Development Company Ltd. into a non-banking financial company to support marine projects nationally and internationally. With plans to apply for RBI registration, SDCL will focus on leasing and debt financing for maritime enterprises, enhancing port infrastructure and connectivity.
By 2047, India aims to quadruple its port capacity to handle 10,000 million tons of cargo annually. Union Minister Sarbananda Sonowal emphasized the importance of international partnerships in enhancing maritime infrastructure, including a collaboration with Norway’s Kongsberg to build India’s first Polar Research Vessel, aligning with the Maritime India Vision 2047.
The official opening of the Chu Lai–India international sea route marks a pivotal advancement for Truong Hai International Logistics LLC (THILOGI) in maritime trade. By enhancing the Ky Ha marine fairway, they enable 30,000 DWT vessels access, facilitating direct exports to South Asia and fostering economic growth in Central Vietnam.
The Ministry of Ports, Shipping, and Waterways has authorized Chhara Port in Gujarat for LNG imports, enhancing India’s energy security. This certification enables Simar Ports Private Limited to manage LNG operations in compliance with the Petroleum Rules. The approval is valid from May 19, 2025, to May 18, 2028, supporting national gas needs.
Union Minister Sarbananda Sonowal met Japan’s Vice Minister Terada Yoshimichi in Oslo to strengthen maritime cooperation. They discussed shipbuilding, port digitalization, green initiatives, and transforming Andaman & Nicobar and Lakshadweep into Smart Islands. Sonowal emphasized India’s eagerness for joint ventures and proposed training programs for Indian seafarers to support Japan’s maritime needs.
Union Minister Sarbananda Sonowal will embark on a crucial five-day official trip to Norway and Denmark starting June 2. Leading a Team India delegation, he will attend a High-level Meeting on Oceans at the Nor-Shipping event, where he will inaugurate the ‘India Pavilion’ and promote the upcoming ‘India Maritime Week 2025’.
Authorities in Kochi, India, have temporarily suspended the Water U-Bahn commuter service after a ferry collision with a cargo ship on Saturday morning. While no casualties occurred, the incident triggered a review of safety protocols to ensure passenger safety during ongoing investigations. Service will be halted until further notice.
V.O. Chidambaranar Port Authority is propelling South India’s economic growth, targeting 50 million tonnes of cargo and 1 million TEUs this year. With major infrastructure upgrades and the launch of India’s first Green Hydrogen Pilot Plant, the port is set to become a vital maritime hub under the Gati Shakti initiative and Maritime Vision 2030.
Shiv Shipping Services, based in Gandhidham, has set a new record by discharging 79,780 MT of steam coal from the MV KMAX RULER at Kandla Port in just 24 hours. This milestone, achieved from May 29 to May 30, 2025, underscores the company’s operational excellence and commitment to efficiency.
The Life Insurance Corporation of India (LIC) has fully subscribed to a ₹5,000 crore non-convertible debenture for Adani Ports, marking a significant domestic debt raise. With a 7.75% annual coupon, this 15-year bond reflects APSEZ’s commitment to optimizing its capital structure, enhancing financial resilience for future growth and acquisitions.
The Indian government is launching a sustainability indexing system to evaluate ship age, replacing sole age restrictions. This initiative aims to modernize the fleet while meeting international emissions standards, allowing older vessels to operate under specific sustainability criteria. Compliance is mandatory for all ships by March 31, 2028.
Gujarat Pipavav Port Ltd reported a consolidated net profit of £3,969 million for the 2025 financial year, a 16% increase fueled by rising fluid and RO-RO freight volumes. Despite profitability, income remained flat at £9,876 million, impacted by lower container throughput and dry bulk freight challenges. A final dividend of £4.20 per share was recommended.
