The Indian Union Budget for 2024 has introduced a series of incentives aimed at revitalizing and expanding the shipping industry, a crucial sector for the nation’s economic growth. These measures are designed to address longstanding challenges, enhance competitiveness, and align with India’s strategic maritime ambitions. A significant aspect of the 2024 Budget is the extension…
Delphine Estibeiro In an epistle to the Honourable Minister of Port, Shipping, and Waterways, Mr Sarbanand Sonowal, members of the Forward Seamen’s Union of India (FSUI) expressed their gratitude to Mr Sonowal for taking the initiative to resolve the seafarers’ long-pending pension demands. Mr Manoj Yadav, General Secretary of the FSUI, stated that the long-pending…
China’s leadership is making a concerted effort to bolster its manufacturing sector, particularly focusing on higher-tech industries like batteries, EVs, and solar panels. However, this strategy appears to be encountering some challenges. Domestically, Chinese consumers are known for their frugality, while globally, there’s growing resistance to Chinese products. This trend is reflected in our forecast…
Summer is over in the United Kingdom. The end August Bank holiday has passed and, with it, the Notting Hill Carnival. As people return to their desks, we expect a more positive direction in shipping markets after a somewhat directionless holiday period. In the dry and wet bulk sectors, hopes for better rates and sustained…
In a significant stride towards bolstering maritime research, Indian Register of Shipping (IRS) has formalized an agreement with the National Centre for Polar and Ocean Research (NCPOR), under the Ministry of Earth Sciences, Government of India. This pivotal agreement, which includes construction supervision of new research vessel to be built at Garden Reach Shipbuilders &…
Pratik Bijlani – The Directorate General of Shipping, in partnership with the Company of Master Mariners of India (CMMI) and the Institute of Marine Engineers (IMEI), hosted a major STCW Comprehensive Review Workshop on August, 27th at MSC Crewing Services Pvt Ltd in Mumbai. This workshop is an important milestone in the continuing global assessment…
What near misses and such few medals for having stayed in the race! None of gold and silver; so be contented with bronze if nothing else! But let’s soul search what’s wrong and why such poor paltry success for such a sub-continental country lacking nothing at all as proven in many other fields! If Asian…
In 2024, the global shipping industry, which serves as the foundation of international trade, is facing unprecedented challenges. This sector-wide pressure is affecting supply chains while also contributing to broader economic concerns such as inflation. Here’s a closer look at the issues behind the strain on global shipping and the resulting inflationary repercussions. Rising geopolitical…
