in International Shipping News 11/12/2023   Container lines may need to hike freight rates by up to $450/TEU in deep sea trade to cover additional expenses arising from decarbonizing their maritime operations with low-carbon fuels, according to a study by consultancy UMAS published Dec. 7.   With pressure from regulators and some eco-conscious customers, a […]

The newly set up cooperative export body NCEL has got permission to export 14,92,800 tonnes of non-Basmati rice to 16 countries and 50,000 tonnes of sugar to two countries, Cooperation Minister Amit Shah said on Wednesday in the Rajya Sabha.   The National Cooperative Exports Ltd (NCEL) was registered in January this year under the […]

DP World initiates open access sourcing of green power at Nhava Sheva Terminals Accelerated electrification and green energy transition contributes to its global goal of net zero emissions by 2050 India, 06 December 2023: DP World has announced a new sustainability target in India, aiming for at least 60% of the energy required at its […]

Ships with links to Israel are diverting in greater numbers from the Red and Arabian Seas following a series of attacks over the past 11 days by Houthis, Iranians and Somalis. Danish liner giant Maersk became the latest big name to announce that a pair of its ships on charter – Lisa and Maersk Pagani – will be diverted […]

Far from removing a so-called cabotage rule to permit foreign flag ships to carry all types of cargo on local routes to boost coastal shipping as proposed earlier, foreign shipping companies will find it extremely tough to run India-centric cargo business under Prime Minister Narendra Modi’s Maritime Amrit Kaal Vision 2047. The Vision document calls […]

Steps such as curbs on inbound shipments of certain goods, production linked incentive scheme and mandatory quality norms are helping the country reduce imports of non-essential products such as TV, tyres, wallpaper and AC gas compressors. These steps, among others like imposing antidumping and countervailing duties, have been taken to analyse and control non-essential imports […]

The government is weighing an innovative plan to promote coastal shipping by introducing integrated public-private-partnership (PPP) port projects at major ports by clubbing vessel acquisition with viability gap funding (VGF) support. VGF is a one-time grant given by the Central government for supporting public-private-partnership (PPP) projects in infrastructure that are economically justified but fall short […]

The port and dock workers numbering around 20,000 and over one lakh pensioners of major ports will observe a one-day token strike on October 26 in all the major ports in the country, demanding immediate revision of wage structure, pensionary benefits and other service conditions. T Narendra Rao, deputy general convenor of the National Coordination […]

The government has exempted payments made for goods imported through ocean freight from 5 per cent integrated GST with effect from October 1. The Finance Ministry has notified changes to the IGST Act with regard to payment of integrated GST on ‘ocean freight’ on imported goods with effect from October 1. Currently, importers are required […]

Amid reports of government’s plans to abolish “çabotage law” in shipping in India, Indian National Shipowners’ Association (INSA) has clarified that there is “no” cabotage law in existence in sea transportation in India. Recent media reports stated that the Prime Minister Narendra Modi led government is likely to remove the cabotage rule for ships carrying […]