The Nigerian maritime sector is in crisis, with its indigenous fleet dwindling drastically, leading to foreign carriers handling 95% of cargo. Stakeholders at the PortNews Summit called for the urgent release of the Cabotage Vessel Financing Fund, which has remained dormant for 18 years, costing the economy billions annually.
Honeywell has launched a groundbreaking technology to convert agricultural and forestry waste into renewable fuels for the maritime sector. This innovation produces lower-carbon marine fuel, gasoline, and sustainable aviation fuel from biomass like wood chips. It provides a cost-effective, eco-friendly alternative to heavy fuel oil, enhancing energy efficiency for ship operators.
During the India Maritime Week in Mumbai, Prime Minister Narendra Modi urged investors to seize opportunities in India’s maritime sector. Chief Economic Advisor V Anantha Nageswaran projected GDP growth for FY 2025-26 at around 7%, exceeding earlier estimates. Key MoUs were signed to bolster maritime workforce capabilities and enhance port operations.
During India Maritime Week 2025, Union Minister Sarbananda Sonowal highlighted Prime Minister Narendra Modi’s transformative impact on India’s maritime sector. With participation from over 85 countries and more than 100,000 delegates, this unprecedented event emphasizes India’s ambition to lead in global seafaring and cruise tourism, showcasing its evolving maritime ecosystem.
Berhampur University and the Indian Maritime University have formalized a partnership to enhance maritime research in Odisha through a signed MoU. This collaboration will facilitate academic exchanges, including student programs and joint certificate courses in areas like maritime informatics and artificial intelligence, fostering innovation in the maritime sector.
On Monday, the Maharashtra government signed MOUs worth ₹56,000 crore to boost maritime infrastructure, including port expansions and shipyard constructions. Chief Minister Devendra Fadnavis emphasized the importance of these agreements for establishing Maharashtra as a maritime superpower, with significant investments planned for Dighi port and enhancements to water transport in Mumbai.
As the IMO Green Summit approaches, the global shipping industry faces scrutiny over greenhouse gas emissions. Advocates call for binding measures, including global fuel standards and a GHG levy. The proposed Net-Zero Framework aims for mandatory emission limits and a pricing mechanism, targeting vessels over 5,000 gross tonnage for significant reductions.
India has emerged as a premier global supplier of seafarers, boasting over 300,000 trained professionals, as highlighted by Union Minister Sarbananda Sonowal. Significant reforms and investments have transformed the maritime sector, creating vast opportunities in ports, shipbuilding, and green technologies, thus reinforcing India’s leadership in the maritime economy.
Recently Ports and shipping in India have gained significant attention, with a ₹69,725 crore package approved to revitalize the maritime sector. The initiative aims to enhance domestic shipbuilding, improve financing options, develop shipyards, and upgrade technical skills, fostering a robust infrastructure for India’s competitiveness in the global shipping industry.
MISC Berhad has committed RM40 million to its Education Sponsorship program, supporting 153 students in maritime studies at Akademi Laut Malaysia (ALAM) over the next 3.5 years. This initiative emphasizes MISC’s dedication to nurturing future maritime leaders and enhancing Malaysia’s talent pipeline in the maritime sector.
The Indian Maritime University (IMU) has signed a pivotal Memorandum of Understanding with CMA Ships India Pvt. Ltd. This partnership aims to enhance academic collaboration, promote research, and facilitate internship opportunities for students. Vice Chancellor Malini Shankar emphasized the importance of bridging education with industry challenges for improved career prospects.
A new feasibility study, FASTMOVE, led by Ricardo in collaboration with Brunel University London and the Port of Cromarty Firth, is exploring ammonia as a maritime fuel. This initiative aims to assess ammonia’s role in decarbonization and develop a next-generation combustion engine, enhancing the UK’s leadership in sustainable maritime technology.
The Ministry of Ports, Shipping and Waterways held an Ambassadors’ Roundtable Meet in New Delhi, gathering envoys from 28 countries to prepare for India Maritime Week 2025. Union Minister Sarbananda Sonowal emphasized India’s goal of becoming a global maritime hub with a $1 trillion investment roadmap, focusing on sustainable shipping initiatives.
The Indian Parliament has enacted the Merchant Shipping Bill, 2025, replacing the outdated 1958 Act. Approved by the Rajya Sabha on August 11, this legislation aligns India’s maritime sector with global standards, enhancing safety, seafarer welfare, and streamlining ship registration processes. It introduces stringent safety protocols and promotes digitalization in maritime operations.
Togo is emerging as a significant maritime power, enhancing its strategic port capabilities. Investments in modern infrastructure are positioning it as a key player in West Africa’s trade dynamics. By streamlining operations, Togo aims to facilitate smoother trade routes, create job opportunities, and stimulate local economies, shaping the future of regional collaboration.
