The global steel market size was estimated at USD 1.47 trillion in 2024 and is projected to grow at a CAGR of 4.6% from 2025 to 2030. This growth is attributed to the rising investments in infrastructure and construction as they require substantial steel for projects. In addition, urbanization and population growth are increasing the…
Pratik Bijlani – The Company of Master Mariners of India (CMMI) held its much-anticipated Annual Dinner Function on February 15, 2025, at The Acres Club, Chembur, Mumbai. This flagship event served as a premier gathering for maritime professionals, fostering an atmosphere of camaraderie, collaboration, and celebration. Esteemed attendees included Shri Shyam Jagannathan, IAS, Director General…
Delphine Estibeiro – The maritime industry is at a critical juncture, as it navigates the challenges of reducing greenhouse gas emissions, promoting sustainable practices, and ensuring the well-being of seafarers. International Maritime Organization (IMO) Secretary-General Arsenio Dominguez highlighted India’s leadership in embracing the green transition and its commitment to sustainable shipping practices at the DGS-IMEI…
Jagdamba Prasad Pandey – On 20th February, The Shipping Corporation of India Ltd (SCI) and SCI Land and Assets Ltd (SCILAL) hosted His Excellency Mr Arsenio Dominguez, Secretary-General, International Maritime Organization (IMO) at the Maritime Training Institute (MTI), Powai. The event was attended by prominent figures, including Shri Shyam Jagannathan, IAS, Director General of Shipping,…
The current state of play in the drybulk market where there is a sense of anticipation amongst buyers for opportunities over the coming weeks. Three Capesize bulkers are reported sold. Cape Friendship (185,879-dwt, 2005 Kawasaki) is understood to been have picked up by a Chinese buyer for $16.1m with DD due in June this year.…
On February 19, Mr. Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), visited the Indian Sailors Home Society (ISHS) in Mumbai, a historic institution dedicated to supporting Indian seafarers. Accompanied by Mr. Shyam Jagannathan, IAS, Director General of Shipping, and Capt. (Dr.) Daniel J. Joseph, Deputy Director General of Shipping, Mr. Dominguez received a…
Could a sudden drop in pollution from cargo vessels cris-crossing global shipping lanes inadvertently make the world hotter? The main reason for global warming is the heat- trapping emissions from burning fossil fuels.But scientists have been looking at the extent to which a shift to cleaner, lower-sulphur shipping fuels in 2020 may have fuelled warming…
The island of Lakshadweep and its fame for tortoise shells were first described by a Greek sailor in the first century CE. This indicates that trading to and from Lakshadweep was a well-known practice starting in the first century CE, which connects it to an ancient maritime route. This also makes it most priceless and…
As part of his state visit to France, Indian Prime Minister Narendra Modi and French President Emmanuel Macron were welcomed by Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, at the Group’s headquarters in Marseille. Discussions focused on the India-Middle East-Europe Economic Corridor (IMEC), a strategic trade route designed to enhance connectivity between…
The Entire shipping industry is a service industry and is affected by worldwide political upheavals, natural disasters, wars, trade sanctions – tariffs, etc. for business policies to stay firmly on the water. On the macro-economic front, the Reserve Bank of India (RBI) made headlines this week after a prolonged period of policy inertia. The central…