Cabinet approves Rs 1,624 crore subsidy for Indian-flagged merchant ships
NEW DELHI : In order to achieve the objective of Atmanirbhar Bharat, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a scheme to provide Rs.1624 crore over five years as subsidy
Cabinet sweetens SCI privatisation deal by approving subsidy for fleet owners
MUMBAI : The roll out of a Cupboard-backed subsidy scheme for native transport corporations will sweeten the deal for the privatisation of Delivery Company of India Ltd (SCI) and assist increase the valuation of
EU Proposes Adding Shipping to Its Carbon Market
LONDON : The European Commission proposed adding shipping to the bloc’s carbon market for the first time, adding pressure on an industry, which had for more than a decade avoided the European Union’s system of pollution
Safesea Group gets approval to bid for Shipping Corporation of India
NEW DELHI : The Safesea Group has received the green signal to bid for Shipping Corporation of India (SCI), and will be given access to the company’s confidential financial data along with other bidders on Monday.
Skyrocketing Containership Rates Draw EU Scrutiny
By Aoife White (Bloomberg) Container shipping’s surging rates are getting scrutiny by the European Union, adding to a U.S. call for more competition among shipping alliances. The European Commission “is closely monitoring the shipping industry”
Price-fixing penalty: Korea Shipping Association warns of “second Hanjin
Korea Shipping Association, which represents South Korean ship owners plying coastal and short-sea routes, has joined the Korea Shipowners’ Association (KSA) in protesting the hefty fines the Korea Fair Trade Commission (KFTC) imposed on 12 local
DP World, UAE Region signs lease agreement with Petrochem Middle East
DUBAI : DP World, UAE Region, the leading smart trade enabler, and Petrochem Middle East, the largest chemical distributor in the Middle East and Africa, have signed a 30-year lease agreement that expands its
Carriers to achieve US$100 billion annual profits for the first time in history
Box shipping lines’ yearly profits are expected to approach US$100 billion in 2021 for the first time in the history of container shipping, according to the latest forecast by Drewry, while freight rates will