Shipping Corporation of India to buy local vessels in $2 billion deal

Shipping Corporation of India is planning a big purchase. It will buy twenty-six ships made in India. This is part of a government plan. The goal is to boost India’s shipbuilding industry. Other sectors like petroleum and steel will also buy ships. The total value of these orders is very high.

Parliament has given its approval to The Merchant Shipping Bill, 2025, which aims to broaden the criteria for owning merchant shipping vessels. This bill allows the central government to detain vessels lacking nationality within India or its coastal waters.

Adani Ports and Special Economic Zone (APSEZ) is receiving positive sentiment from leading brokerages like Goldman Sachs and HSBC, with unanimous ‘BUY’ ratings following a strong first-quarter performance. The company reported revenue growth and margin improvements across its business verticals. APSEZ’s focus on EBITDA growth and end-to-end solutions, along with new asset contributions, supports its […]

The Lok Sabha passed the Merchant Shipping Bill, 2024, amidst opposition protests, aiming to modernize maritime legislation and address India’s evolving economic needs. This bill broadens vessel ownership eligibility and grants the government authority to detain stateless vessels within Indian waters. It repeals the Merchant Shipping Act of 1958, introducing contemporary provisions for marine casualty […]

Gautam S Adani will step down as Executive Chairman of Adani Ports. The change is effective from August 5, 2025. He will transition to Non-Executive Chairman. Consequently, he will no longer be key managerial personnel. Manish Kejriwal has been appointed as an Additional Non-Executive Director. His term will be for an initial period of three […]

Gautam Adani is now the non-executive chairman of Adani Ports and Special Economic Zone. This change took effect on August 5. Manish Kejriwal has been appointed as an additional independent director. The board approved these decisions. This move ensures compliance with company regulations. Adani can now focus on the strategic growth of other Adani Group […]

The first cargo trial run occurred from Govardhan Bridge to Hatsingimari. MV VV Giri carried 300 metric tonnes of cement. Minister Sarbananda Sonowal called it a watershed moment. This resumes intra-state waterborne freight transport after a decade. Over 1168 kms of National Waterways in Assam are now operational.

Synergy Marine Group has appointed Vikas Trivedi as Co-CEO for ship management, overseeing the tanker and gas carrier division. He joins Ajay Chaudhry, who leads the dry division, in a leadership role. Trivedi brings 25 years of experience to Synergy, which employs a significant number of Indian nationals in its global operations.

Following EU sanctions, Indian vessel owners Seven Islands Shipping and Great Eastern Shipping Co (GESCO) have requested Nayara Energy to terminate contracts for three clean product tankers. Concerns over the sanctions have prompted this decision, impacting Nayara’s ability to sell refined fuel and leading to reduced refinery operations due to storage limitations.

Intershipping Services Hub’s Indian branch faces EU sanctions. Captain Abhinav Kamal is also sanctioned. He is the first Indian to face such action related to the Russia-Ukraine conflict. The EU accuses the company of aiding trade with Russian entities. Sanctions freeze European assets and restrict EU business. Non-EU entities can still engage with Intershipping Services […]