As Parliament’s Monsoon Session progresses into its fourth day, the Lok Sabha is set to reconvene at 2 pm on Thursday to discuss key legislative issues, notably the Merchant Shipping Bill, 2024. Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, will present the bill, aimed at modernizing India’s maritime framework by updating obsolete laws governing merchant shipping.
The Merchant Shipping Bill intends to align Indian maritime legislation with international standards, while enhancing the shipping industry, seafarer welfare, and coastal security. It proposes to replace the outdated Merchant Shipping Act of 1958 and the Coasting Vessels Act of 1838, addressing the reality that nearly 50% of Indian-flagged offshore vessels remain outside regulatory oversight.
Key provisions include relaxing the Indian ownership requirement from 100% to 51%, thereby inviting participation from non-resident Indians, and expanding the definition of “vessel” to cover smaller crafts and submersibles. In response to past security breaches, the Bill also empowers authorities to enhance coastal monitoring. Ultimately, the Merchant Shipping Bill, 2024, aims to position India as a competitive player in the global maritime sector.
