Cochin Shipyard Limited plans a Rs 15,000 crore shipyard in Tamil Nadu with a Korean partner. The project aims to create 10,000 jobs. CSL also partners with HD Korea for shipbuilding. They will use CSL’s new dry dock to build large vessels. A Block Fabrication Facility is planned in Kochi, generating more jobs.
CSL to set-up Rs 15,000 shipyard in Tamil Nadu, signs MoUs with Korean partners
A fire erupted on the cargo ship Haridharshan, anchored at Porbandar’s Subhashnagar Jetty in Gujarat, intensified by its cargo of approximately 950 tons of rice and 78 tons of sugar. The Somalia-bound vessel was subsequently towed to the sea’s center as fire brigade vehicles worked to extinguish the blaze. Further details regarding the incident are […]
Swan Defence and Heavy Industries has signed a Rs 4,250 crore agreement with Gujarat Maritime Board. The goal is to modernize shipyards and boost supply chains. SDHI also signed an MoU with Sagarmala Finance Corporation Limited. Prime Minister Narendra Modi inaugurated maritime development projects worth over Rs 7,870 crore.
PM Modi flags ₹6 lakh cr shipping bill outflow that equals defence spend, calls for Atmanirbhar push
1 month ago
Prime Minister Modi highlighted India’s significant annual expenditure of ₹6 lakh crore to foreign companies for shipping, nearly equivalent to the country’s defense budget. He attributed this dependence to the Congress governments’ neglect of domestic shipbuilding, hindering India’s potential. Modi emphasized the need for self-reliance in the shipping sector to bolster economic sovereignty and realize […]
Container freight rates are projected to remain low due to global trade uncertainties caused by US tariffs. Exporters accelerated shipments to the US before tariff deadlines, leading to an 18% increase in exports during April-August 2025. Oversupply of capacity and weakening global demand are expected to further depress sea freight rates, impacting smaller exporters significantly.
The government has granted infrastructure status to large ships, defined as commercial vessels meeting specific tonnage and ownership criteria, aiming to facilitate easier and cheaper financing for shipbuilding in India. This move, aligned with the Maritime India Vision 2030, anticipates significant investment in the shipping sector and supports the development of shipbuilding clusters.
Mercantile Ports & Logistics Ltd. has initiated legal action against a group of unidentified banks in India, alleging they failed to act fairly during refinancing negotiations. The company claims a third party is attempting to acquire its outstanding debt from the banks, potentially disrupting the refinancing process.
India is reviewing the US decision to end the Chabahar Port sanctions waiver. This waiver, expiring in 2025, allowed India access to Afghanistan and Central Asia. The US move aligns with its pressure campaign against Iran. Concerns arise that this could impact India’s connectivity plans. It may also benefit China’s Belt and Road Initiative.
The Maharashtra government is partnering with Finland to modernize Mumbai’s historic Sassoon Dock using technology-driven solutions. The project aims to address operational challenges, environmental concerns, and hygiene issues at the busy fishing harbor. The modernization will introduce modular infrastructure and advanced fishing methods to improve efficiency, sustainability, and fishermen’s earnings.