Dr. Pius Akutah, Executive Secretary of the Nigerian Shippers Council, highlighted the transformative potential of the Nigerian Ports Economic Regulatory Agency (NPERA) Act, pending presidential assent. He anticipates that its enactment will establish vital regulatory frameworks, revitalizing the maritime sector, creating jobs, and attracting foreign investment within five years.
A new industry plan in Singapore aims to support sustainable growth in the marine and offshore energy sector. By 2030, the plan plans to create 1,000 local job roles and achieve a 5% annual productivity growth. It also aims to reduce carbon emissions by securing new orders and establishing Singapore as a hub for maritime sustainability.
Prime Minister Modi recently announced India’s initiative to construct 60 large Navy ships, totaling Rs 1.5 trillion in value. This investment is anticipated to create a significant economic impact, with a sixfold employment multiplier effect and a circulation of approximately Rs 3 trillion. Modi emphasized the importance of the shipbuilding industry in driving economic growth and job creation.
Kerala’s Chief Minister, Pinarayi Vijayan, announced a significant update on the Vizhinjam Port project, extending its completion to December 2024. With plans to expand capacity to 30 lakh TEU by 2028, the project is crucial for Kerala’s economic growth. Stakeholders must meet deadlines to avoid financial penalties and fulfill the state’s vision.
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.
