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The Union Cabinet has approved the Bharat Maritime Insurance Pool, backed by a ₹12,980 crore sovereign guarantee. This initiative aims to provide continuous maritime insurance for Indian trade, covering various risks. Additionally, a 2% increase in dearness allowance for Central government employees and pensioners was also approved, benefitting millions.
At the G7 summit in France, Prime Minister Modi raised urgent concerns about maritime security after a US military strike killed three Indian sailors off Oman. Modi emphasized the need to protect Indian seafarers and global shipping, urging international cooperation amid mounting Middle Eastern tensions threatening vital energy trade routes.
BIMCO, the International Chamber of Shipping, INTERCARGO, and INTERCARGO have condemned the recent attacks on seafarers and vessels in the Strait of Hormuz. With 46 confirmed assaults since February 28, 2026, resulting in 14 fatalities, they stress the need for immediate action to ensure the safety of maritime operations and uphold international law.
At the Maritime Reform Utsav, the Shipping Corporation of India announced plans to expand its fleet of Very Large Gas Carriers (VLGCs). This initiative aims to enhance India’s energy supply chain by boosting LPG imports, reducing reliance on foreign vessels, and supporting cleaner energy transitions while lowering logistics costs.
In response to rising safety concerns for Indian seafarers amid recent vessel attacks in West Asia, the Directorate General of Shipping has launched e-Navik 24×7, a digital grievance redressal platform. This initiative enables seafarers and shipping companies to submit and track complaints in real time, enhancing support and efficiency.
Shyam Jagannathan, India’s Director General of Shipping, has introduced an eight-pillar decarbonization roadmap for the maritime sector, essential for 90%-95% of international trade. Emphasizing green fuels, ship recycling, and seafarer training, he called for sustainable shipping investments to combat shipping’s 2%-3% global carbon emissions contribution, ensuring a greener future for India.
Norway is poised to construct the Stad Ship Tunnel, the first full-scale maritime tunnel aimed at enhancing vessel safety along its treacherous coast. Excavating 3 million cubic meters of rock, this project will allow ships to bypass the dangerous Stadhavet area, significantly improving safety for maritime traffic. A parliamentary vote on funding is crucial.
All 14 Filipino crew members aboard the MV Maersk Valparaiso are safe after a collision with the oil tanker Lady Martina in Nigeria’s Onne Bonny River on May 20, as confirmed by the Department of Migrant Workers. Emergency protocols have been activated, and the DMW is closely monitoring their welfare.
India is reevaluating its shipping strategy in the Gulf due to rising geopolitical tensions leaving vessels stranded. With vital trade routes threatened, officials focus on ensuring the safe return of ships before new deployments. Concerns over crew safety and logistical challenges heighten as authorities monitor risks and explore alternative routes.
Swan Defence and Heavy Industries Limited (SDHI) has partnered with DNV to elevate India’s maritime and shipbuilding landscape. This collaboration aims to enhance ship classification standards, integrate advanced technologies, and promote sustainable shipping. It positions India as a competitive hub, aligning with global aspirations to rank among the top shipbuilding nations by 2047.
Iran’s recent map publication asserting control over the Strait of Hormuz has intensified the crisis for over 20,000 mariners stranded on 2,000 vessels. Many sailors face dire conditions without sufficient food or water, praying for safety amid escalating tensions and uncertainty in the Gulf.
The A.P. Moller Foundation’s Maersk Mc-Kinney Møller Center for Zero Carbon Shipping has cut its workforce by 30% amid uncertainties in the shipping industry’s green transition. Despite this, CEO Bo Cerup-Simonsen reassures that the Center will adapt, focusing on energy efficiency, low-carbon research, and regulatory support, with 18 core sponsors still committed.
The Maritime Singapore Master Plan (MSMP), set for unveiling in 2027, aims to navigate the future of Singapore’s maritime sector amid global trade uncertainties. It focuses on enhancing business planning, investment, and workforce skills, positioning Singapore as a leader in maritime innovation and a pivotal hub in global shipping.
India is prioritizing the return of its stranded ships in the Gulf before sending any vessels to load fuel, according to Mukesh Mangal from the Ministry of Ports. He highlighted the urgency of securing all Indian-flagged vessels in the Strait of Hormuz, with ongoing coordination between shipping and foreign ministries.
Nautilus International has urgently called on the UN to establish a 30-day humanitarian corridor in the Strait of Hormuz, aiming to evacuate about 20,000 stranded seafarers. Amid escalating tensions, the situation has worsened, with many unable to leave, despite the area being classified as a warzone by the IBF.
