India’s economic transformation has been significantly shaped by port privatization initiatives over the past few decades. Given the country’s extensive coastline and burgeoning international trade, optimizing port efficiency and modernization is vital for sustaining economic expansion. This article provides an in-depth examination of the driving factors, implementation strategies, outcomes and challenges associated with port privatization…
Padmesh Prabhune In a significant operation at Mundra Port, the Directorate of Revenue Intelligence (DRI) confiscated around 200 containers of watermelon seeds, valued at about ₹100 crore. Authorities suspect about 17 importers being involved in the cargo, which was brought from Sudan. Acting on specific intelligence the DRI’s Gandhidham Regional Unit have seized all of…
A recent discussion on compensating families of seafarers who die by suicide sparked a thought-provoking question: Shouldn’t we prioritize preventing these tragedies rather than debating compensation? While bereavement funds have their place, addressing preventives to suicidal deaths on ships is surely paramount. While several organizations, particularly seafarer unions around the world, offer helplines of many…
The Capesize market has been closely monitoring China’s iron ore port stocks this week. Exactly one year ago, inventories had dipped to 105.2 million tonnes as of October 13, marking a nearly 20 percent year-on-year drop and hitting their lowest level since October 2016, according to data. Fast forward twelve months, and the landscape has…
Shipping markets have come to rely heavily upon Chinese demand over the past four decades as China has played an increasingly large role in global trade. Its early advantage of cheap labour helped it become a global centre for producing low-value garments and mass-manufactured goods that it exported to the world. It moved up the…
Drewry, a leading maritime consultancy, predicts that around three million TEU of new shipping capacity set to enter the market next year will likely be “more than offset” by ongoing market disruptions, leaving shippers with no relief in sight. The uncertainty surrounding potential strikes at U.S. East Coast ports adds to the volatility, prompting Drewry…
1 million direct and indirect employment opportunities likely to be created – India’s vast 7,517-kilometer coastline, dotted with 13 major and 200 minor ports, holds immense potential for economic expansion and trade proliferation. Despite this strategic advantage, coastal shipping currently constitutes a mere 6% of India’s cargo movement. In a landmark move, the Indian government’s…
In 2024, the Indian government launched a new Shipbuilding Scheme to revitalise the indigenous shipbuilding industry. This initiative is a deliberate move to strengthen India’s maritime sector, raise global competitiveness, and promote economic growth through greater ship building. The New Shipbuilding Scheme’s key goals are to increase shipbuilding in India, create jobs, and lessen the…
Pratik Bijlani – The United Kingdom is taking decisive steps toward decarbonizing its maritime sector by creating the first green shipping corridors exclusively for zero-emission vessels. In line with the Clydebank Declaration made at COP26, the UK pledged to establish six green shipping corridors by mid-decade. The first routes, now unveiled, will link the UK…
Hyundai, South Korea’s automotive giant, has a surprising secret: its Indian-made cars don’t use Indian steel. Instead, the company imports steel from South Korea through a related entity, bypassing India’s domestic steel industry. As a Korean Chaebol, Hyundai’s diversified businesses are crucial to the Korean government. Beyond cars, Hyundai produces battle tanks, ships, petrochemicals, plastics,…