Dry Markets – Typically, late July’s dry bulk shipping reports are vibrant, filled with speculations on the Baltic indices’ peaks. However, this year has been an anomaly, with such discussions vanishing into obscurity. On Thursday, the Baltic Dry Index (BDI), a key activity indicator in the dry bulk sector, plunged back into the three-digit range,…
Padmesh Prabhune – The maritime security landscape in the Gulf of Aden, Bab al Mandeb Strait, Red Sea, Somali Basin, and Arabian Sea Region has been severely affected by the increasing attacks and the geographical spread of attacks on merchant vessels from November 2023 to June 2024 has significantly disrupted maritime trade in the region,…
Padmesh Prabhune – The Indian Navy in a joint operation with the Maritime Rescue Co-ordination Centre, (MRCC), Mumbai successfully evacuated a critically injured Chinese crewmember (51 Yrs) from the Panama flagged Bulk Carrier ZHONG SHAN MEN, 200nm (approx 370km) from Mumbai, while en route to port of Sohar, Oman. According to reports, MRCC Mumbai received a…
Pratik Bijlani – In this week’s “Shipping Number of the Week,” Niels Rasmussen, Chief Shipping Analyst at BIMCO, discusses the extraordinary expansion of container fleet capacity, which represents the greatest growth in 15 years. The fleet’s capacity has increased by 1.6 million TEU since the beginning of the year, representing an excellent 11% year-over-year rise,…
Padmesh Prabhune – Union Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25 in parliament today July 23, 2024. While presenting her seventh consecutive Union Budget, Sitharaman thanked the people for awarding Prime Minister Narendra Modi a historic third term. The budget 2024 envisaged sustained efforts on 9 priorities for generating ample opportunities for…
Delphine Estibeiro – On July 19, Chitkara University School of Maritime Studies held a magnificent Passing out Parade ceremony to mark the graduation of their 2021 cohort. The event, which was graced by renowned Chief Guest Mr Shyam Jagannathan, Director General of Shipping, India, was a historic occasion attended by many dignitaries. Among them were…
Padmesh Prabhune – A crewmember aboard the Gabon Republic-flagged MT Zeal was medevacuated last Sunday amidst severe weather conditions by a team of the Indian Coast Guard, approximately 20 kilometres off the Porbandar coast. The MT Zeal issued an SOS on Sunday July 21 after one of its Indian crew experienced lower-body numbness and an…
Subsidy of any monetary kind: direct, indirect, tax planning, etc -as backlashed in SCICI (later merged with ICICI), ILFS, etc turning to sovereign guarantee wastage- is a nemesis and should be politically, policy-wise and any which way better be avoided and given a sea-burial. It is a fallacy that it creates employment -with trickle down…
A Memorandum of Understanding was signed on 15th July between the Department of Captain of Ports and Ganpat University at the Secretariat in Porvorim in the presence of Minister of Ports, Shri Alexio Sequeira. This collaboration aims to enhance maritime education and training at Maritime School at Britona of Captain of Ports Department. Present at…
On August 3 this year, Maritime Trainers from all over the country as well as some from overseas will meet in Mumbai for the annual Foundation Day event of the Maritime Trainers Guild. The purpose of the meet is to debate solutions to issues in maritime training, and also seek how to better support seafarers…