Tag: Indian Ports

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Government of India restricts entry of ships over 25 years of age at Indian Ports

About 93 Indian flag ships are above 25 years of age The Government has decided to impose certain restrictions on entry of over 25 years old ships into Indian ports or territorial waters. This was stated by the Union Minister of Shipping, Shri G.K. Vasan in a supplementary reply to a question in Lok Sabha.The Minister said that most of the ships involved in accidents like collision of MSC Chitra and M.V. Khalijia are very old. Therefore, the Government has decided to issue a notification under Merchant Shipping Act, 1958 that if the ships are more than 25 years old they will be allowed only if they satisfy the following conditions:i) They should be classed with Classification Societies which are full member of International Association of Classification Societies (IACS).ii) Have adequate insurance coverage to liabilities including collision, wreck removal and salvage.iii) Appoint an Indian Ship Agent to represent owner/charterer.iv) The Indian agent should notify the Port authority and the customs collector at least 48 hours prior to the arrival of the ship about the details of the ship including insurance etc.There are about 93 Indian flag ships which are above 25 years of age. However, they will not be affected ...

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The Union Shipping Ministry harbours an ambition to take Indian ports global

Plenty of other investment opportunities in the Indian port sector Companies go global for a variety of reasons, some to increase their market share and some to reduce their dependence on the home market.There are others which see the advantage of easy access to raw materials and cheaper labour or capital. And yet others may be looking for overseas opportunities to increase the shareholder value or expand their brand equity.The Union Shipping Ministry harbours an ambition to take Indian ports global. Its objective is admirable: Make India a "world power in the port sector". The Ministry's Maritime Agenda for the decade, released earlier this year, had suggested the creation of an SPV called "India Ports Global", or IP Global, to explore overseas investment opportunities.Nobody took this crazy idea seriously then. Now, some bureaucrats are trying to test the waters.Going global sounds great! But are Indian ports capable of putting this grand idea into practice? Are we capable of exporting port services that can compete with the best in the world? India's port sector, despite being in existence for hundreds of years, is in no way comparable to the best in the world today. Cargo handling costs at Indian ports are ...

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