The Global Centre for Maritime Decarbonisation and AIM Horizon Investments have launched the Fund for Energy Efficiency Technologies, raising $35 million to support vessel retrofits. This innovative fund, featuring a pay-as-you-save model, aims to tackle financial barriers in adopting energy-efficient technologies, enhancing sustainability in the maritime sector.
The Sagarmala Scheme, launched by the Ministry of Ports, Shipping and Waterways, aims to boost India’s port-led development, leveraging its extensive coastline. Key initiatives include funding for port infrastructure, with Tamil Nadu receiving around Rs 9,090 million for various projects, enhancing the state’s role in global maritime trade.
Union Minister Sarbananda Sonowal celebrated the luxury cruise ship MV Empress’s arrival in Vishakhapatnam, marking a significant milestone for Andhra Pradesh. Chief Minister N. Chandrababu Naidu and other officials emphasized expanding cruise tourism, projecting economic benefits and job creation while enhancing maritime infrastructure at various ports across the state.
The Indian government is developing shipbuilding facilities in Gujarat, Tamil Nadu, and Andhra Pradesh, marking a significant step in maritime industry growth. A partnership with South Korea’s HD Hyundai aims to enhance local production of large ships for intercontinental trade, particularly at Thoothukudi, projected to be worth £10,000 billion.
