The growth of India’s maritime industry is hindered by a lack of robust financing avenues. Shipowners are encountering challenges with banks hesitating to fund vessel acquisitions. Meanwhile, port developers are in dire need of funding options that span 30 to 50 years to ensure project viability.
Industry pushes for long-term maritime infra financing options
BEML signs multiple agreements with Dredging Corp
11 hours ago
In a significant move towards enhancing India’s maritime capabilities, state-owned BEML is joining forces with the Dredging Corporation of India. Together, they will innovate and create advanced dredgers, with a deal valued at around Rs 350 crore that includes a commitment to supply essential spare parts.
V.O. Chidambaranar Port Authority has signed 28 agreements for green energy projects. These pacts represent an investment exceeding Rs 1.27 lakh crore. Major MoUs include a common storage farm for green ammonia and a green ammonia production facility. These initiatives aim to establish the port as a future green hydrogen hub for southern India.
Indian Register of Shipping, Neptunus ink pact to build indigenous marine engine condition
11 hours ago
Neptunus Power Plant Services has partnered with the Indian Register of Shipping to develop indigenous marine engine monitoring technology under ‘Make in India’. This collaboration aims to bring data-driven maintenance to India’s shipping industry, with IRS granting Type Approval to Neptunus’ VIB 360 and Torque Sense SHAPOLI systems.
Cochin Shipyard Limited and Denmark-based Svitzer have signed a significant agreement. They will build a new generation of electric TRAnsverse tugboats in India. This collaboration brings advanced and environmentally friendly tug designs to the Indian market. The deal was finalized during India Maritime Week in Mumbai.
Russia has become India’s largest sunflower oil supplier, with imports surging twelvefold in four years, displacing Ukraine. This shift is attributed to Russia’s reliable seaports and competitive pricing, especially as Ukraine diverts produce to Europe. Despite a recent price increase impacting overall imports, Russia’s significant share is expected to persist.
The government has temporarily lifted import restrictions on specific stainless steel items until the year’s end, driven by a shortage of local production. Manufacturers are apprehensive about losing their market foothold and the potential hindrance to their investment in future capacity. They argue that these exemptions might lead to an influx of below-par steel imports […]
India is nearing trade agreements with the European Union and the United States. Meanwhile, Indian products face substantial import duties in the US. These tariffs, totaling fifty percent, have been described as unfair by New Delhi. Discussions are ongoing to resolve these trade matters.
India should continue trade negotiations with US, fasten FTA talks: EAC-PM chairman Dev
11 hours ago
EAC-PM Chairman S Mahendra Dev urged India to diversify exports, expedite FTAs, and continue trade talks with the US. He highlighted opportunities for India to boost its share in global merchandise trade, emphasizing the need for stronger export growth and more medium-sized manufacturing units to achieve sustained economic expansion.
The US has granted India a six-month sanctions waiver for its operations at Iran’s Chabahar Port, a move seen as a strategic concession amidst ongoing trade deal negotiations. This extension supports India’s regional connectivity plans, particularly its gateway to Afghanistan and Central Asia, signaling Washington’s willingness to accommodate New Delhi’s geopolitical interests.