The Mediterranean Shipping Company (MSC) is expanding its commitment to India’s maritime sector, following CEO Soren Toft’s recent meeting with Union Minister Sarbananda Sonowal. They discussed investment opportunities in logistics, shipbuilding, and cruise tourism, aligning with initiatives like the Sagarmala Project and the ‘Make in India’ campaign to strengthen local capabilities.
The Indian maritime sector is in need of a significant investment of $1 trillion by 2047 and ₹5 lakh crore by 2030 to reach its full potential. Green hydrogen production hubs are being established at key ports to decarbonize the shipping industry. India is set to become a major player in the global maritime market.
In the week from 06 – 12 Jan 2025, the Indian maritime sector is abuzz with initiatives aimed at sustainability and technological advancement. However, seafarers face rising challenges, such as crew abandonment and unpaid wages. Addressing these issues is crucial for fostering a thriving maritime industry that supports both innovation and the welfare of its workforce.
The government is considering granting infrastructure status to the entire shipping industry, expanding beyond just coastal vessels. This move could provide financial support and concessions from banks and institutions, boosting the domestic shipping sector. With plans to elevate India’s shipbuilding ranking and establish shipbuilding hubs, the industry is set for growth.
This week saw the Indian maritime sector making significant strides, including the IRS and SeaTech Solutions’ MoU for green tugboat development, a six-fold increase in waterway cargo transport, and the launch of ROV projects in Kerala. These advancements reflect a commitment to sustainability and innovation within the industry.
In this week’s editorial, we delve into significant maritime developments from 14-20 Oct. 2024. Highlights include advancements in green shipbuilding, India’s Coastal Shipping Bill approval, and new P&I insurance regulations. Additionally, we explore lighthouse tourism’s role in preserving heritage and boosting local employment, shaping a sustainable maritime future.
This week’s editorial highlights India’s maritime advancements from 07 to 13 October 2024, including its re-election to the IMO Council and collaborative icebreaker construction with Russia. Key topics include maritime safety improvements, sustainable shipping innovations, and environmental initiatives, positioning India as a pivotal player in the global maritime landscape.
India recently hosted a high-level conference on Maritime Decarbonization, demonstrating its commitment to reducing carbon emissions in the maritime industry. Co-hosted by the Ministry of Ports, Shipping & Waterways and the Asian Development Bank, the event brought together over 200 delegates to discuss strategies, technologies, and policies to promote sustainable practices in the maritime sector.
This week’s maritime news highlights significant developments from 02 Sep. to 08 Sep. 2024. Key topics include India’s ₹25,000 crore Maritime Development Fund to boost shipbuilding, recovery in dry cargo shipping, innovations in marine fuels, and updates on the Red Sea crisis. Environmental challenges and Seychelles’ efforts against maritime crime are also covered.
Maharashtra’s economic growth is on the rise with new projects from both central and state governments. The Vadhavan Port, inaugurated by PM Modi, will boost the rural economy with its impressive capacity. It will accommodate large vessels, setting it to become a global trade hub. This project will create jobs and drive economic growth in the region.
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The maritime industry in India is expected to have a bright future due to various factors such as the country’s…
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