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India’s Dual Portability Likely to Boost Global Trade
India has long been a hub for maritime trade, but with the final completion of such mega ports -Vadhavan, Machilipatnam and Vizhinjam, the country will have an expanded capacity to meet the growing demands of its economy and become an even more important player on the global stage.
I am of the view that together these 3 ports (being Greenfield strategic ports) represent a new era for India’s maritime trade, for these ports will not only cater to the increasing logistics demands of the country but also fit seamlessly and efficiently in to the global supply chains. With better connectivity, modern infrastructure, and the ability to handle larger vessels, all 3 ports will improve the flow of goods, reduce shipping costs, and open up new markets for Indian businesses.
Currently, Indian ports like Mumbai are facing capacity constraints and congestion, which leads to delays in goodshandling and an increase in shipping costs. Vadhavan Port’s deep-water capacity makes it uniquely suited to handle larger vessels, including post-Panamax ships, which are too large for many of the existing ports in India. This feature is crucial for the country’s logistics demand, as it allows for more costeffective shipping and enables larger volumes of goods to be transported in a single trip.
Vadhavan Port’s development, (over INR76,000 crore, to be constructed in two phases with a total capacity of 23.2 million TEUs) will ease this bottleneck, improving the flow of trade, and creating efficient access to both national and international markets apart from being a key part of India’s IMEEEC project (India Middle East Europe Economic Connectivity). The port’s development will also create a robust infrastructure for warehousing and transshipment, (and now with an additional airport, soon to be built near Vadhavan will help too) supporting industries like manufacturing, retail, and e-commerce.
On the other hand, Vizhinjam Port is India’s first Greenfield strategic port near Thiruvananthapuram in Kerala, initiated by a state Government with an investment exceeding ₹18,000 crores. Developed under the Public Private Partnership (PPP) mode, the port stands as one of the largest initiatives in the country’s port sector offering direct connectivity to international shipping lanes.
It has to its credit docking of the ‘MV San Fernando’, with a capacity of 9,000 TEUs, marking the beginning of operations at India’s first deep water container transhipment port, and the first automated port equipped with state-of-theart technology that offers large scale automation for quick turnaround of vessels including the capacity to handle megamax containerships.
Given this I am sure these 3 ports, which together more or less cover the entire Indian seaboard, will help making it easier for businesses to manage their supply chains significantly.
Needless to say, the future of Indian maritime trade looks incredibly promising with the completion of these 3 transformative ports offering a critical opportunity to modernize India’s infrastructure and align it with global standards. By enhancing India’s connectivity to international shipping routes, reducing congestion, and fostering economic growth, Vadhavan, Machilipatnam and Vizhinjam will undoubtedly solidify the country’s position as a leading global trade and logistics hub in the years to come.
Jagdamba Pandey Manager, Business and Promotion jagdamba@marexmedia.com
ClassNK is a major supporter of the Digital Era
India To Offer Lower Duty Rates as Part Of Trade Talks
India might lower duty rates as it is hoping to escape the reciprocal tariffs from the US that are expected to come into effect from April 2 and thus would offer duty cuts as part of the bilateral trade pact that is being discussed by the two countries. According to experts there is scope for a cut in import duties by India and the domestic industry is also broadly supportive of such a reduction in tariffs. India’s Commerce and Industry Minister Piyush Goyal, who was earlier in Washington DC to initiate discussions on a bilateral trade agreement with the US, may also offer a sweetener on these lines, with duty cuts across several goods and products. In a written statement to the lower house of Parliament on March 11, 2025,
Minister of State (MoS) for Commerce and Industry, Jitin Prasada, confirmed that both nations are working towards a comprehensive multi-sector trade agreement. The proposed pact seeks to enhance market access, reduce
tariff and non-tariff barriers, and deepen supply chain integration. Key merchandise exports from the US to India include items such as crude petroleum, coal and industrial goods.
‘One
Nation - One Port’ Process and ‘Sagar Ankalan - LPPI Index’ Launched
Union Minister Shri Sarbananda Sonowal launched a series of major initiatives of the Ministry of Ports, Shipping and Waterways (MoPSW) aimed at modernising India’s maritime infrastructure, strengthening its global trade presence, and to promote sustainability. Sonowal launched the ‘One Nation-One Port Process (ONOP)’ an initiative to standardise and streamline operations across India’s major ports. The step aims at removing inconsistencies in documentation and processes that led to inefficiencies, increased costs, and operational delays.
He also launched Sagar Ankalan — the Logistics Port Performance Index (LPPI) for FY 2023-24, as a significant step towards enhancing efficiency and global competitiveness in India’s maritime sector. Apart for this, Sonowal also launched Bharat Global Ports Consortium to Strengthen global trade by expanding India’s maritime reach and enhance global trade resilience; and MAITRI logo (Master Application for
International Trade and Regulatory Interface) with an aim to streamline trade processes, reduce bureaucratic redundancies and expedite clearances, reinforcing India’s commitment to ease of doing business.
NHLML & IWAI Signs MoU for Multi-Modal Logistics Park In Varanasi
AMemorandum of Understanding (MoU) between National Highways Logistics Management Limited (NHLML) and Inland Waterways Authority of India (IWAI) was signed in the presence of Union Minister of Road Transport and Highways, Shri Nitin Gadkari and Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal to develop a state-of-the-art Multi-Modal Logistics Park (MMLP) in Varanasi, Uttar Pradesh. Spread across 150-acre the MML park is strategically connected to NH7 via a 650m access road and is just 1.5 km from the NH7-NH2 junction. It will seamlessly integrate with the Eastern Dedicated Freight
Corridor through a 5.1 km railway line from Jeonathpur Station and National Waterway-1 and is located 30 km from Lal Bahadur Shastri Airport. The project promises significant investment
and employment opportunities, strengthening India’s logistics sector, enhancing trade efficiency, and driving economic growth.
Tamilnadu Launches Its First Maritime Policy 2025 Promoting Ship-building
In its bid to make the State a global hub for high-tech industries, Tamil Nadu Finance Minister Thangam Thennarasu, allocated Rs 3,915 crore to the Industries, Investment Promotion, and Commerce Department in its budget introducing ground breaking Maritime Transport Manufacturing Policy, targeting job creation and industrial growth for the first time ever. This policy aims to promote investment and innovation in ship and boat design, ship hull fabrication, ship engine production and and deep-sea excavations along coastal Tamil Nadu have been proposed in the budget, as well as generate 30,000 jobs in districts such as Cuddalore and Tuticorin, while developing the MSME sector. While a new airport is planned near Rameswaram, a new city has been planned near Chennai on 2,000 acres,
the state’s longest elevated flyover (14.2 km) will be built from Thiruvanmiyur to Uthandi along ECR at a cost of Rs 2,100 crores addressing the infra and logistics development. The new city will feature a variety of modern
amenities, including IT parks, fintech trade zones/ warehouse, research and development centres, high-tech companies, banking and insurance firms, shopping complexes, trade centres, and conference halls.
New 45,000 Cr, 6-lane highway connecting JNPT to Chowk under BOT
The Centre on March 19 approved the construction of a 6-lane access-controlled greenfield high-speed National Highway to connect JNPA (Jawaharlal Nehru Port Authority) Port (Pagote) with Chowk (29.219 km) in Maharashtra at an investment of Rs 4,500 crore. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the construction of 6-lane access controlled Greenfield HighSpeed National Highway starting from JNPA Port (Pagote) to Chowk (29.219 km) in Maharashtra. The project will be developed on build, operate and transfer (BOT) mode. The development of road connecting infrastructure to major and minor ports in India is one of the main focus areas of integrated infrastructure planning
under PM Gatishakti National Master Plan principles and with increasing container volume in JNPA port and the development of the Navi Mumbai International Airport, need was felt for augmenting the national highway connectivity in the region. Currently, it takes 2-3 hours for vehicles to move
from JNPA Port to the arterial Golden Quadrilateral (GQ) section of NH-48 and Mumbai–Pune Expressway due to heavy congestion in urban areas like Palaspe Phata, D-Point, Kalamboli junction, and Panvel.
Sagarmala 2.0 Aims To Transform India’s Maritime Future- Says Sonowal
The fourth National Sagarmala Apex Committee (NSAC) meeting focused on accelerating port-led development and strengthening India’s maritime infrastructure. Addressing the NSAC Union Minister of Ports,
Shipping and Waterways Sarbananda Sonowal said, “As we move towards Sagarmala 2.0, our focus is on bridging critical infrastructure gaps with fresh investments, driving coastal economic growth, and positioning India as a global maritime leader.” The NSAC meeting decided to boost port-led development and enhance the maritime infrastructure of the country. Sagarmala 2.0, backed by RS 40,000 crore, aims to boost India’s maritime sector with Rs 12 lakh crore investments, focusing on shipbuilding, port modernisation, and coastal infrastructure. The ports ministry is executing 839 projects worth Rs
5.79 lakh crore under the Sagarmala programme, with 272 projects already completed at an investment of RS 1.41 lakh crore. Under Sagarmala, 234 port modernisation projects worth Rs 2.91 lakh crore are underway, with 103 projects completed, adding 230 MTPA (million tonnes per annum) capacity. In connectivity, 279 projects worth RS 2.06 lakh crore are being implemented, with 92 projects completed, boosting 1,500 km of port links. Port-led industrialisation saw 14 projects worth Rs 55,000 crore, with 9 completed.
Maharashtra FM Ajit Pawar Presents Maha Budget 2025
State will focus on ‘Logistics
Infrastructure’ as Mumbai becomes a ‘Growth Hub’, says FM Ajit Pawar
Finance Minister Ajit Pawar 202526 presented the first budget of the newly-formed Mahayuti government on March 10. Incidentally this is Ajit Pawar’s 11th Budget Speech as Finance Minister of Maharashtra.
The Maharashtra Finance Minister presented the Rs 7-lakh-crore budget for 2025-26 in the Assembly, emphasizing industrial growth, infrastructure development, and job creation. “Maharashtra contributes to
15.4% in country’s GDP,” said FM Ajit Pawar.
Pawar presented a budget aimed at creating 50 lakh jobs and investing ₹64,000 crores in infrastructure, including roads and the Vadhvan
Padmesh Prabhune
port, by 2030. One of the major announcements in the budget was the proposal for Mumbai’s third airport near Vadhvan Port, which is expected to be operational by 2030.
Chief Minister Devendra Fadnavis lauded the state budget and said apart from Uttar Pradesh with 22 crore population, Maharashtra with 12 crore population is the only state that has proposed a ₹7.20 lakh crore budget, indicating the mammoth scale of the exercise.
In his State Budget announcement, Finance Minister of Maharashtra Ajit Pawar said that the State will focus on building logistics infrastructure covering 10,000 hectares of land, as Mumbai becomes a growth hub. Mumbai’s economy is projected to grow from $140 billion to $300 billion. “The state will prioritise the development of logistics infrastructure, covering over 10,000 hectares. Mumbai is set to be transformed into a major growth hub, with new trade centers planned to enhance commercial activities,” said Pawar.
The Maharashtra Marine Development Policy Pawar in his Budget announcement said “The Maharashtra Marine Development Policy-2023 introduces several exemptions to boost port development, passenger shipping, and coastal tourism. The policy grants exemptions on property tax, non-agricultural tax, electricity duty, and stamp duty for port-related projects. Additionally, electricity for port operations will be charged at industrial rates.”
Vadhavan Port
Finance Minister of Maharashtra
Ajit Pawar, in his State Budget announcement, said that the State will contribute 26 per cent of the project cost to build the deep sea Vadhvan Port in Maharashtra. The port is expected to start its operation by the year 2030.
Additional Announcements
1. ₹7.20 Lakh Crore total expenditure
Ajit Pawar said that in the budget 2025-26, a total expenditure of ₹7.20 lakh crore has been allocated. The estimated revenue receipts stand at ₹5,60,964 crore, while the revenue expenditure is projected at ₹6,06,855 crore.
2. Industrial Policy 2025.
The policy aims to attract ₹20 lakh crore in investments and create 50 lakh jobs. A separate regional policy will be developed for the circular economy, and new labour laws will be introduced.
3 ₹15.65 lakh crore worth of investment
₹15.65 lakh crore worth of investment is planned in the coming years across Maharashtra that would create at least16 lakh new jobs. A seven-point action plan for the first 100 days has been prepared.
4. 1,500 km road network
In the coming year, a 1,500 km road network will be developed, while 7,000 km of existing roads will be upgraded to cement roads across the state. Additionally, 99 per cent of the Samruddhi Highway project has been completed.
5. Metro Expansion in Mumbai, Nagpur, and Pune
In the coming year, 41.2 km of metro routes will be launched in Mumbai and 23.2 km in Pune, totalling 64.4 km. Over the next five years, a total of 237.5 km of metro routes will be made operational. Under Phase 2 of the Nagpur Metro, construction work for 43.80 km is progressing at a cost of ₹6,708 crore,
6 A ₹19,300 crore irrigation project
The river interlinking is a top agenda for the state government. He said a ₹19,300 crore irrigation project will be implemented in the Tapi River Valley, while water from Konkan will be diverted to drought-prone regions of Marathwada.
7 AI in Agriculture
Finance Minister Ajit Pawar also announced the state’s plan to promote AI in Agriculture. Pawar also announced that a pilot project on 1 lakh acres involving 50,000 farmers. emphasising the development of solar energy to drive sustainable growth.
8. ₹36,000 crore for Ladki Bahin Yojana
Under the Ladki Bahin Yojana, 2.53 crore women have received stipends totaling ₹ 33,232 crore, Pawar said. For 2025-26, the outlay will be increased to ₹36,000 crore. Additionally, under the Lek Ladki Yojana, benefits have been provided to 1.12 lakh women.
Tax Exemption to Boost Shipping
Finance Minister of Maharashtra
Ajit Pawar, in his State Budget announcement, said the passenger and port taxes will be exempted in order to boost passenger shipping and coastal tourism in the State. “To encourage passenger shipping and coastal tourism, the policy provides
exemptions from passenger and port taxes.Further more, the maximum duration of port agreements has been extended to 90 years, ensuring longterm investment stability in the sector,” said Pawar.
Draft Rules Issued for Ports’ Switch to Market-
Linked Pricing
The proposed move aims to enhance competition among ports, potentially leading to better pricing for users ensuring the revenue neutrality, experts divvied
The government has proposed to allow ports to switch to market-linked pricing by revising existing contracts.
The Ports, Shipping and Waterways Ministry has circulated draft guidelines for migration of existing contracts, which will bring parity between terminals operating on different tariff structures. However final guidelines will be issued only after consultations with stakeholders,
According to officials this move aims to enhance competition among ports, potentially leading to better pricing for users while ensuring the revenue neutrality for the Centre and consistent user experiences across terminals.
“The move will allow for more competition among ports and could lead to improved pricing for users.”, the official said.
As per the draft shared with stakeholders the tariff migration exercise would be revenue neutral for the Centre. Ports will have to ink a new agreement for migration. “Public-private partnership (PPP) concessionaires will sign a supplementary agreement for migrating to the new tariff regime,” said a senior official.
It will also ensure that earnings of major ports, where these PPP terminals are located, will not take a hit, he added.
Major ports are those governed by the Centre while non-major ones are under the administrative control of state governments. Under the proposed regime, PPP concessionaires on migration will be free to fix rates for the services they offer.
“Royalty as revenue share of major ports would not go below what it would have been under the existing regime. Varying tariff regulations issued from time to time and followed at various ports have different regulatory approaches.
“There is no level playing field amongst the PPP concessionaires at major ports, these measures are aimed at ensuring a consistent user experience.”, the official added.
Emphasising it as the need of the time official said, “Competitive forces are now ensuring self-regulation of performance and tariffs. It is now essential to have a uniform approach tariff setting allowing for consistent user experience.”
While the government seems to be changing with times, industry experts however, are divided on this for it has its pros and cons and are awaiting the final version.
While some say it sems to be a good initiative bringing increased competition, providing flexibility to ports for, if the competition works as intended shipping companies might see better pricing supported with improved services, others are equally critical pointing out challenges in the implementation.
An expert on the condition anonymity points out that Ports might lower price or offer better services to attract more traffic or say they could also always adjust prices based on demand, trends or to match their operational cost.
Another industry expert stated that ensuring fair competition and avoiding monopoly tactics could be tricky(business), especially when a single port dominates the region. On the other hand, if port and terminal charges are expensive, mother vessels might choose to call at other ports, which could gradually result in the port in question becoming a feeder port.
MMT
Lok Sabha Passes Bills of Lading Bill 2025
Industry appreciates the efforts aimed to simplify shipping ,further signifying the amendment to boost India’s digital trade ambitions.
The Lok Sabha on Monday March 10, 2025, passed the Bills of Lading Bill, 2025 modernising the 169 years old colonial shipping law Act of 1856. The current law, a brief three-section act, primarily governs the transfer of rights and confirmation that goods were loaded onto a vessel.
Speaking on the occasion, the Union Minister of Ports, Shipping & Waterways, Shri Sarbananda Sonowal said, “It marks a historic
milestone in India’s journey towards a modern, efficient, and globally competitive shipping sector. The transformation of this law is not just a technical update; it is a statement of our commitment to building a Viksit Bharat — a developed India — where outdated colonial structures no longer hold us back.”
With the shipping industry evolving and the global trade landscape changing, there is a
pressing need for India to adopt a more comprehensive and understandable law that aligns with international standards. The Bills of Lading Bill, 2024, will rename the existing law to the Bills of Lading Act, 2025, and include several key reforms.
“The passing of this bill reflects the government’s continued dedication to facilitating trade, reducing litigation risks, and ensuring that India remains at the forefront of
global shipping.”, Sonowal added.
According to officials the Bills of Lading Bill, 2024, is part of a broader effort to modernize India’s maritime laws and enhance the country’s competitiveness in international shipping. The modernization of the Bills of Lading Act will support India’s growing role in global trade, making it easier for businesses to navigate shipping processes while reducing disputes, this is a crucial step towards positioning India as a global leader in maritime commerce.
A bill of lading is a legal document that tracks a shipment from start to finish. It’s issued by a carrier to a shipper. It serves as a contract, receipt, and document of title.
The new legislation aims to simplify the language and reorganize provisions without altering their underlying substance. It also empowers the Central Government to issue directions to facilitate the law’s implementation along with an inclusion of a standard repeal and saving clause, while eliminating the colonial legacy of the 1856 Act.
These changes will bring numerous benefits, including streamlined business processes, reduced litigation risks, and improved clarity for carriers, shippers, and lawful holders of goods. The updates are expected to foster a more efficient and reliable shipping environment.
By simplifying the language, reorganizing provisions, and empowering the government to better implement and manage this legislation, we are creating a more business-friendly environment that will reduce legal complexities and foster greater trust in our maritime trade.
The Indian Bill of Lading Act 1856 has undergone a significant amendment, which was proposed on August 9, 2024, and passed on March 10, 2025. This amendment brings clarity to two key aspects:
Transferring Rights:
The amendment ensures that all rights in respect of the contract contained in the bill of lading, along with the property, are transferred to the consignee or endorsee of the bill of lading
Conclusive Evidence:
It also ensures that a transferred bill of lading in the hands of a bona fide holder is treated as conclusive evidence of the goods being laden on board.
This development is a significant step towards the digitization of trade, particularly in the context of electronic transferable records (ETRs). The UNCITRAL Model Law on Electronic Records (MLETR) aims to enable the use of ETRs both domestically and across borders. India has initiated efforts to adopt ETRs, with the MLETR tracker indicating that the country is at the “MLETR Socialisation” stage.
India has also made progress in the adoption of electronic bills of lading (e-B/L). The Indian Ministry of Shipping has initiated the development and adoption of e-B/Ls for use in India’s maritime industry. The e-B/Ls are part of India’s Electronic Port Community System (e-PCS), which aims to improve the ease of doing business in the country’s maritime sector.
Furthermore, India and South Korea have already begun the electronic transfer of bills of lading (e-B/L) between their customs authorities. Startups in India are also developing solutions for real-time tracking of goods and shipping containers using RFID tags and the Internet of Things (IoT).
Acknowledging the development experts say it would be too early to comment on it but the fact remains that, the passing of the Bills of Lading Bill, 2025, in Parliament is a significant step in modernizing India’s legal framework, making it more relevant, modern, accessible. This bill, which replaces the outdated Indian Bills of Lading Act,
1856, eliminates archaic provisions and aligns India’s maritime laws with global standards, enabling smoother and more secure shipping practices.
The Bill will now be presented in the Rajya Sabha. MMT
Amendments aimed at optimizing land use and streamlining operational norms to ensure safe working practices adhering to consistent environmental standards within the ship recycling industry.
The Gujarat Maritime Board (GMB) has announced key amendments to its Ship Recycling Regulations, 2015, aimed at optimizing land use and streamlining operational norms within the ship recycling industry. The amendments, approved by the Government of Gujarat, were officially published in the Gujarat Government Gazette on March
21, 2025. The notification, referenced as GMB/Alang/1/2025/556/1284, outlines several changes to the existing regulations. The notification was issued on behalf of the Gujarat Maritime Board by Rajkumar Beniwal, Vice Chairman & Chief Executive Officer.
The amendments, detailed in the “Recycling of Ships Regulations, 2025,” cover all ship recycling facilities in India and Indian ships intended for recycling, both domestically and internationally. The regulations aim to ensure safe working practices and consistent environmental standards in ship recycling facilities. These
amendments are made under the powers conferred by various sections of the Gujarat Maritime Board Act, 1981.
Key Amendments Include:
i) Plot Merging Rule Revised: The amended regulations state that after merging plots, the total width of the merged plot shall remain limited to 300 meters.
ii) Unused Plot Allocation: The GMB will now allow unused plots to be given to willing adjoining plot holders or existing ship recyclers on a yearly basis, under standard terms and conditions. This provision also extends to plots earmarked for SC/ST, ensuring that if they remain unused, they can be allocated in the same manner, while the GMB continues its efforts to allocate these reserved plots to eligible persons. Priority will be given to adjoining plot holders in such allocations.
iii) Minimum Light Displacement Tonnage (LDT) Requirements: Clause 9.3 and the fourth paragraph of Clause 9.4 in Chapter 9 have been replaced with updated clauses. The new regulations specify the minimum LDT that permission holders must break, with potential penalties for non-compliance. The amended regulations include a table specifying minimum LDT requirements based on plot width, divided into two blocks of five years.
iv) Security Deposit for Recycling Charges: The first paragraph of Clause 9.4 has also been amended. Permission holders are now required to deposit a Bank Guarantee/Cheque/Demand Draft equivalent to the recycling charge (Rs. 135/- per LDT) of the minimum LDT at the beginning of each five-year block period. This deposit will be gradually adjusted as income to GMB upon the recycling of ships.
The amendments are expected to bring greater efficiency and utilization of resources within the ship recycling sector in Gujarat.
The ship recycling industry in Gujarat is one of the largest in the world. These amendments are set to enhance Gujarat’s position as a global leader in the sector. By introducing modernized regulations, the GMB is positioning the state as a more attractive destination for ship recyclers worldwide. The improved clarity and accountability within the regulations are likely to attract more investors and ship owners to use Gujarat’s facilities, further boosting the industry.
Experts are of the view as the ship recycling industry in Gujarat continues to grow, these amendments will likely play a crucial role in streamlining operations and ensuring that the sector remains competitive and environmentally responsible. The revised regulations reflect a forwardthinking approach that is set to shape the future of ship recycling in Gujarat, making the state a benchmark for global practices in ship recycling.
The Impact of the Amendments
According to experts the amendments to the Gujarat Maritime Board’s Ship Recycling Regulations are expected to significantly improve the overall functioning of the ship recycling industry in Gujarat. By optimizing land use, making plot allocations more flexible, and implementing stricter LDT and financial requirements, the GMB is laying the foundation for a more organized and efficient industry.
a) Operational Efficiency
The revised regulations aim to eliminate inefficiencies in land utilization and recycling operations. The clearer definitions of minimum LDT requirements and the implementation of a financial security deposit mechanism will help ship recyclers plan their operations better and ensure that they meet the necessary quotas.
The regulations limit the width of merged plots to promote efficient land use and prevent resource monopolization. Unused plots will be allocated to neighboring plot holders, ensuring no land remains idle and boosting the recycling industry’s capacity.
b) Environmental Sustainability
Amid global sustainability efforts, the Gujarat Maritime Board’s amendments aim to enhance control over ship recycling, promoting eco-friendly practices. The new plot allocation provisions and regulated recycling targets are expected to drive broader adoption of sustainable practices in the industry.
c) Social Equity
The provision for the allocation of unused plots earmarked for SC/ST individuals also reinforces the GMB’s commitment to promoting social equity. By providing a mechanism for the temporary reallocation of unused plots, the GMB ensures that resources are not left unused while still making efforts to help the underprivileged sections of society.
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Steering Towards a More Sustainable Future
Capt Bjorn Hojgaard Chief Executive Officer Anglo-Eastern Univan Group
Capt Bjorn Hojgaard’s journey to becoming the Chief Executive Officer of the Anglo-Eastern Univan Group began in rural Denmark, where his parents, both dedicated public school teachers, instilled in him a deep appreciation for education. Surrounded by nature’s splendour, Capt Hojgaard developed a profound connection with the outdoors, particularly the water, which ignited a passion for a maritime career that would eventually take him to the helm of a global shipping leader.
After serving in the navy, he joined Maersk, rising through the ranks to become captain of one of their largest container ships. He later transitioned to leadership roles at Thome, Univan, and eventually, Anglo-Eastern Univan Group, where he became Group CEO in 2015. Capt Hojgaard’s guiding principles, “what you don’t have in your head, you can always have in your stamina” and “spare me the hero,” reflect his commitment to hard work, teamwork, and doing a proper job.
As he navigates the complexities of the shipping industry, Capt Hojgaard emphasizes the importance of balance, finding solace in outdoor activities with his wife and dogs. He also draws inspiration from books, podcasts, and insightful conversations, underscoring his dedication to leadership and personal growth.
Speaking candidly with Delphine Estibeiro of Marex Media, Capt Hojgaard shares his vision for a sustainable future, highlighting AngloEastern’s commitment to its seafarers,
decarbonisation, and collective efforts towards a more environmentally conscious industry.
Driving Progress…
Shipping is more than just an industry – it is a cornerstone of global prosperity, driving progress and connecting humanity. As the backbone of international trade, shipping accounts for over 90% of all traded goods, and its importance will only continue to grow. However, the industry faces significant challenges in the years ahead, from navigating complex geopolitical and regulatory environments to meeting ambitious decarbonisation targets. The push for net-zero emissions by 2050 is already driving innovation in technology, ship design, and alternative fuels.
At Anglo-Eastern, we are at the forefront of this transformation. With a pipeline of dual-fuel and green-fuel ships unmatched by any other ship manager or owner, we are driving the energy transition forward. But we know that new technologies and regulations are only as effective as the people who implement them.
That’s why we’re committed not just to our ships, but to the seafarers who run them. We’re investing in advanced training programmes to ensure every officer and crew member is equipped to navigate the future of shipping, from new fuel systems and emissions controls to energy efficiency measures. By empowering our people, we’re building a brighter future for our industry and for the world.
Unwavering Commitment…
At Anglo-Eastern, we take a proactive and uncompromising approach to risk management, fostering a safety culture that prioritizes the well-being of every individual on board. This commitment is anchored in rigorous training,
policy development, and enforcement, with zero tolerance for violations in critical areas such as substance abuse, smoking, environmental protection, and hazardous operations.
Our senior management, captains, and dedicated QHSE, Marine HR, and Training teams work in tandem to reinforce these vital messages, recognizing that adherence to these rules is a matter of life and death. Furthermore, our comprehensive WeCare programme encompasses over 60 initiatives designed to promote seafarer well-being, encourage open reporting of concerns, and create a more supportive work environment.
To facilitate knowledge sharing and best practices, we have equipped over 450 vessels in our fleet with Starlink connectivity, enabling more frequent communication and collaboration across our crew pools. In addition, we prioritize technological security, meeting the stringent requirements of IMO2021, including network segregation, firewall protection, vulnerability management, and backup systems, to ensure the integrity of our operations and the safety of our crew.
Embracing Digitalisation…
At Anglo-Eastern, digitalisation is a core pillar that enables us to deliver exceptional service to our clients, while driving performance, transparency, and sustainability. Our Fleet Performance Centre (AEFPC) in Mumbai, established in 2021, plays a pivotal role in achieving these goals. By leveraging data from daily vessel performance monitoring, our team of experts translates insights into actionable recommendations, yielding significant results.
In 2024, we monitored over 16,500 voyages, implementing improvements that led to a remarkable reduction of 63,000+ MT in fuel usage and
189,000+ MT in CO2 emissions. Furthermore, our initiative to install Starlink Maritime across our managed fleet has greatly enhanced connectivity and wellbeing for our seafarers, facilitating seamless collaboration between ship and shore. With over 450 installations completed, we’ve seen significant operational efficiency gains and overwhelmingly positive feedback from our crews.
We continue to explore innovative technologies; including drone deliveries, augmented reality, and AI, to further drive efficiency and sustainability. A notable example is our remote maintenance system, which revolutionises equipment troubleshooting and enables swift issue resolution without requiring on-site specialists. By harnessing the power of digitalisation, we’re able to leverage our scale to drive efficiencies through data and knowledge sharing, ultimately delivering exceptional value to our clients.
Path to Decarbonisation…
As a responsible and forward-thinking organisation, we acknowledge the imperative to transition away from traditional fossil-based fuels. To achieve this, we leverage data-driven insights from our Fleet Performance Centre (AEFPC) to optimise vessel and voyage operations, effectively managing emissions in the short to medium term.
Our commitment to sustainability is further demonstrated by our growing dual-fuel capabilities. Over the past two years, we have expanded our expertise in alternative fuels, including LPG, LNG, ammonia, methanol, ethane, and hydrogen. As of March, we are actively engaged with 131 ocean-going dualfuel vessels and newbuilding projects, spanning various ship types. To ensure seamless operations, we provide bespoke training for our crew on dual-
fuel engines and systems, utilising state-of-the-art simulators at our fully owned training centres.
In February, we inaugurated the world’s first LNG/ammonia bunkering station skid at our award-winning AngloEastern Maritime Academy (AEMA) in Karjat, India. Furthermore, we are expanding our involvement in future fuel ship designs through AngloEastern Technical Services (AETS) and SeaQuest, our newbuilding and project management arms.
As a leader in the industry, we are committed to sharing our knowledge and expertise, holding key positions on committees such as the Chair of the ammonia fuel work group of the Society for Gas as a Marine Fuel (SGMF).
Collective Action for a Sustainable Future…
The shipping industry, accounting for 3% of global greenhouse gas emissions, has a crucial role to play in addressing environmental concerns. However, meaningful progress demands greater alignment and collaboration among industries, regulatory bodies,
and governments. This collective effort requires a holistic approach, considering the entire energy and fuel supply chain.
As a responsible shipping company, Anglo-Eastern is committed to ensuring the safe and efficient operation of our managed vessels, prioritising environmental protection and preventing potential catastrophes. We strive for exceptional operational standards, aiming to eliminate PSC deficiencies and acknowledging the higher risks associated with certain cargo.
Our responsibility extends beyond ship operations; as custodians of the sea, we must protect the marine ecosystem. Echoing this year’s IMO World Maritime Day theme, “Our Ocean, Our Obligation, Our Opportunity,” we’re proud to partner with the Great Whale Conservancy and Whale Guardians programme. By adapting our operational practices, avoiding sensitive areas, and collaborating with scientists, we’re contributing to whale conservation efforts. This initiative exemplifies our dedication to making a positive impact and serves as a model
for future environmental endeavours.
Art of Leadership at Sea…
Effective leadership in the shipping industry demands a unique blend of process-oriented expertise and people-centric skills. Aspiring leaders must cultivate empathy, a strong sense of responsibility, and the ability to foster trust within their teams. True leadership involves learning from others, owning responsibilities, and making critical decisions under pressure.
My own experience as a naval officer taught me the value of trust-based leadership. During a perilous rescue operation in the Baltic Sea, our team faced extreme conditions and gruelling challenges. Our Commander’s decision to trust us with the choice to proceed or abandon the mission was a turning point. We chose to push on, and our collective efforts led to the successful rescue of every crew member. This experience reinforced the importance of trusting one’s team, showing vulnerability, and empowering individuals to take ownership of their roles.
The Anglo-Eastern Executive Management Team gathers at the 2025 Mumbai Conference
At Anglo-Eastern, we believe that exceptional leadership is not about micromanaging or checking boxes. Rather, it’s about cultivating a culture of commitment, where every individual feels empowered to take ownership, strive for excellence, and work collaboratively towards a common goal. By fostering this culture, we enable our people to excel, both individually and collectively, and drive our organisation towards greater heights.
Anglo-Eastern’s Future…
Our vision for Anglo-Eastern’s future remains steadfast, built on a foundation of organic growth, meaningful partnerships, and a commitment to our core values. We seek to collaborate with like-minded shipowners who share our passion for integrity, quality, and sustainable excellence. Growth, for us, is not about expansion for its own sake, but about strengthening our foundation, maintaining our privately owned structure, and staying true to our long-term approach to shipping.
As we look to the future, we will continue to leverage our scale to drive efficiencies, harness data for optimisation, and refine our
operations. We are committed to active engagement with key industry bodies, contributing to knowledge sharing and ensuring we maintain our competitive edge. Our role is not just to participate in the industry, but to help shape its future. Our DNA is rooted in sustainable excellence, not growth at all costs. We strive to work with shipowners and partners who share our commitment to investing time, resources, and effort into doing things the right way.
At Anglo-Eastern, we lead by setting a higher standard, rejecting mediocrity, and insisting on integrity and quality in everything we do. This is only possible when we work together as One Team, united in our pursuit of sustainable excellence.
Navigating the Future of Shipping…
The next decade will be transformative for the shipping industry, with emerging technologies, alternative fuels, and innovative ship designs set to reshape the landscape. As the industry navigates these changes, Anglo-Eastern will continue to play a pivotal role in shaping the future of maritime. We
will invest in training and education, upskilling our existing talent and preparing the next generation for the challenges ahead.
The past decade has already witnessed significant shifts, with decarbonisation, digitalisation, and geopolitical changes redefining the industry. Shipping has had to adapt, becoming more transparent, accountable, and technologically agile. Yet, its core purpose remains unchanged: enabling global trade, driving economic growth, and improving lives, particularly in vulnerable regions.
As we look to the future, I am confident that shipping will remain a vital component of global prosperity and progress. At Anglo-Eastern, our vision for growth is rooted in sustainability, responsibility, and excellence. We will continue to set the benchmark for exceptional ship management, driven by our commitment to the highest standards. With the right talent in place, I am confident that our journey will endure, navigating the challenges and opportunities of the decade ahead.
MMT
Capt Bjorn Hojgaard and Brenda Hojgaard at the unveiling of our cutting-edge LNG/Ammonia Bunkering Station Skid at the Anglo-Eastern Maritime Academy
Fostering a Safety-First Culture
Pratik Bijlani and Padmesh Prabhune
On February 20th and 21st NYK ShipManagement (NYKSM), a subsidiary of the renowned NYK Group, hosted its annual NYKSM Officers’ Dialogue 2025 at the Navi Mumbai Marriott Hotel. This significant two-day event, themed Safety and Compliance First, brought together NYKSM seafaring Officers, industry leaders and maritime professionals to discuss key operational strategies, safety measures, and the company’s commitment to growth and sustainability.
The event was attended by top management of NYK: Mr Yukata Higurashi, Director and Senior Management Executive Officer of NYK; Mr Nobuhiro Kashima, Senior Managing Executive Officer at NYK; Mr Anubhav Garg, COO and MD of NYKSM; Ms. Doris Mo, CFAO at NYKSM; Mr Deepak Arora, General Manager MHR at NYKSM and other notable personalities.
Capt Purendu Nansi, General Manager, NYKSM (India) formally set the stage for a day of knowledge-sharing and collaborative discussions.
The conference began with a welcome note by Mr Keshav Agarwala, Country Manager of NYKSM (India), who
NYKSM Inaugurates Navi Mumbai Office
Capt (Dr) Daniel J Joseph, Dy. Director General of Shipping (Crew) DG Shipping, Govt. of India, and Mr Gopikrishna C Dy. Director General of Shipping, (E & SS) DG Shipping, Govt of India inaugurated the new office of the NYKSM in Navi Mumbai on 21st February.
Appreciating the efforts of NYKSM the officials extended their support.
Capt Joseph said, “We thank NYKSM for inviting us on such an auspicious ceremony and we assure maximum support from DG Shipping for enhancing Indian maritime.” On the sidelines, Capt Joseph also urged NYKSM to hire the Indian talent pool especially the Ratings onboard NYK Ships as well.
Mr Gopikrishna said, “We shall be equally available for all the technical support needed time and again; be it fuels and / or green economy. This is one of the most welcoming moments and we look forward to collaboration.”
Spread over the area of over 10,000 sq ft with the modern-day infrastructure, the setup will gradually start offering its bouquet of services in Shipmanagement Technical, and Trainings.
Speaking on the inauguration, Mr Garg, said, “Since its inception in October 2001 NYK Shipmanagement has expanded to become one of the biggest and most reputed ship management companies operating from Singapore.”
Driven by our core values of Integrity, Innovation and Intensity, the company has grown to great strength and now has 125 vessels under full technical management and 200+ vessels under technical and crewing management.
eloquently set the tone for the gathering. Highlighting the subtle yet impactful difference between “oversee” and “overlook,” he urged attendees to embrace their responsibilities with diligence and care. His hope for engaging and interactive sessions was realized throughout the event.
Mr. Nobuhiro Kashima, Senior Managing Executive Officer at NYK emphasized the indispensable role of Indian seafarers in NYK’s global success. Reflecting on the establishment of NYK’s new office in Navi Mumbai, he highlighted the company’s dedication to consolidating technical, manning, and training operations in India. “You are the backbone of our operations, and we seek to take our vision for India forward with your whole-hearted dedication and respectful commitment,” he affirmed.
He further stressed the need for embedding safety and compliance into the company’s core ethos. “Our journey is not just about reaching our destination; it is about developing a safety-first culture as part of our DNA, where every action is naturally conceived with safety and compliance in mind,” he added.
Interactive activities and insightful presentations defined the conference’s agenda. Capt. Rajat Marwaha conducted an engaging ice-breaking session, fostering camaraderie among attendees, while Capt. Ishan Chauhan’s innovative Maritime Human Resources presentation introduced “Krishna,” an AI-generated virtual presenter, to explore seafarer well-being, mental health, and policy adherence.
Technical insights were shared by Mr. Randhir Das, who detailed the functionalities of the NiBiki PMS system, emphasizing the importance of efficient reporting and inventory management. Capt. Vikas Agarwal facilitated a workshop analyzing a ship grounding incident, stressing the significance of bridge resource management and procedural rigor to prevent such occurrences.
Safety was a recurring theme, with Mr. Andrew Lemmins addressing lifeboat deficiencies and the gaps in crew training. He urged ship managers and regulators to enhance oversight and separate training from compliance activities for improved outcomes. Capt. Mohan Rao Munjiti presented NYKSM’s
Environmental, Social, and Governance (ESG) initiatives, emphasizing the company’s commitment to IMO’s net-zero targets and sustainability. A thought-provoking session by Capt. Kashif Ali and 3rd Officer Rishabh Badoni tackled generational differences, advocating mentorship and open communication to bridge gaps. Meanwhile, the introduction of SIRE 2.0 by Capt. Marwaha highlighted NYKSM’s commitment to exceeding industry compliance standards.
Mr Andrew Leahy made a presentation on crisis management and media response, where he underscored the importance of swift and professional responses in safeguarding both company reputation and seafarer welfare.
While day One ended with a celebratory dinner, cocktails, and live entertainment, encapsulating NYKSM’s ethos of fostering a collaborative, safety-driven, and forward-thinking maritime community, it was followed by equal enthusiasm next morning with presentation by Mr Ansuman Ghosh Director, Risk Assessment, Thomas Miller P&I.
Mr Ghosh through his candid
Insights from the High Seas
“NYK sets the standard for maritime excellence, prioritizing safety, security, and employee fulfilment. I’m proud to be part of a company that exceeds expectations and shares my passion for shipping.” – Capt Oesterd Rebello, Master, NYKSM
“NYK stands out for its exceptional support, high standards, and robust safety culture. With a multinational crew, they foster a performancedriven environment where everyone works together seamlessly, making them a leader in the industry.” – Capt Manoj Kumar Mishra, Master, NYKSM
“I’m grateful to work with NYK, a company that actively promotes women’s empowerment in the maritime industry. As a woman seafarer, I’ve felt safe and motivated by the diverse and inclusive crew. I hope more women join, as it will create a supportive and inspiring community at sea.” –Ms Susmita Bhunia, ETO, NYKSM
“I’m grateful to have joined NYK as a cadet and fortunate to have had opportunities to grow, sailing on various ships and being promoted to master on a VLCC. NYK’s supportive culture recognizes hard work and dedication, and I’m thankful for their recognition and trust in me.”
– Capt Binoy Nambiar, Master, NYKSM
presentations and views highlighted a point forward that “we all are Seafarers by Choice and Not by Chance. For apart from the rigorous work and besides the adventurous journey, a seafarer also gets to explore different part of the world and their culture.” He added, “People who willing to be a part of different culture, embrace their maritime job extremely.” He narrated ample examples motivating seafarers thus adding value to the job and contributing towards the nation building.
Mr Rochit Das conducted an inhouse activity; a case study on hypothetical ship management in sea on ‘Role Alignment’ with a decision-making unit. The objective was to understand the importance of all the stakeholders on a commercial ship. The exercise included each team having a Master, CE, VM, PM Procurement, MM and so on. The team was to focus on effective HSEQ performance and smooth sailing with all the deviation, cargo load, cost analysis crew change, procurement, and preventive measures to ensure it reaches the destination safe.
This was followed by HSEQ session by Capt. Vivek Venugopal DGM HSEQ, NKYSM who deliberated upon various Risk Assessment, Safety Process, and Certificate Module highlighting the importance of compliance. Capt. Venugopal said, “We at NYK follow ‘No Blame Culture’ but at the same time we do not accept false cover-ups; Safety and compliance are a must.”
Taking it further, Capt Mr Ashok Srinivasan, Regional Manager, & Technical Advisor, BIMCO introduced the working of BIMCO over the years and stressed upon measures that needs to be adhered to while sailing - to avoid accidents.
While Capt. Prem Prakash did mention about some of NYK’s initiatives towards new fuels, Mr Anubhav Garg, NYKSM MD & COO appreciated all the seafarers for making their presence felt during the two-day event. Acknowledging the huge turnout of seafarers during the discussion, Mr Garg said, “Don’t fear change, rather embrace the change,” for adapting is the nature and the key for survival.
In his closing remarks Mr Ohashi -NYKSM Chairman & CEO once again reiterated the NYK Culture of No blame and its commitment towards ‘Safety and Compliance First.’ MMT
AAROHAN 2025: Charting the Future of Maritime Innovation and AI
The AAROHAN International Maritime Conference, organized by the Integrated Maritime Exchange (IME), brought together industry leaders, policymakers, and innovators to discuss the impact of AI, investment in maritime start-ups, and the future of commercial shipping.
AAROHAN held in Dehradun on March 22, 2025, aimed to bridge the gap between industry, academia, and technology in the maritime sector.
Dr. Meenakshi Sundaram, Principal Secretary of Energy, Uttarakhand, emphasized the transformative role of AI in shipping. He highlighted how
AI improves efficiency, accuracy, and operational decision-making, making shipping more structured and reliable. The Uttarakhand government pledged support for maritime businesses and start-ups, recognizing their vital role in economic growth.
Dr. Deepak Murari, Joint Director of
Industries, Uttarakhand, encouraged shipping companies and entrepreneurs to establish start-ups in the state. He pointed out that Uttarakhand offers a promising ecosystem for maritime entrepreneurs, with government funding and support available.
Key takeaways from the panel
- Jagdamba Prasad Pandey
discussions included the need for the maritime industry to adopt an updated education system that integrates AI, digital tools, and real-world simulations. This would foster stronger collaboration between universities, training institutes, and shipping companies, ultimately leading to the development of industryready professionals.
The panel also emphasized that India must modernize its ports, streamline policies, and invest in skill development to remain competitive on a global scale. The adoption of digitalization and AI would enable Indian shipping companies to improve efficiency and boost their global competitiveness.
The transformative role of AI in shipping was further highlighted, with its potential to automate ship operations, chartering, and maritime finance, leading to cost savings and enhanced
operational efficiency. Companies were encouraged to adopt AI-powered tools for voyage estimation, cargo tracking, and predictive maintenance.
Additionally, the panel noted that maritime tech start-ups in India are still underdeveloped, despite the country being the world’s thirdlargest start-up ecosystem. Venture capitalists are particularly interested in AI, automation, and digital freight solutions, creating opportunities for
growth and innovation within the sector.
The AAROHAN International Maritime Conference marked a significant milestone for the maritime industry, fostering collaboration and innovation among industry leaders, policymakers, and innovators. As the maritime sector continues to evolve, conferences like AAROHAN will play a crucial role in shaping its future.
Building Resilience, Embracing Change
On February 8th, ATPI and Qatar Airways joined forces to host a sophisticated soiree at the esteemed Gallops Restaurant, nestled within the scenic Mahalaxmi Racecourse in Mumbai. As guests mingled and forged new relationships, the event served as a testament to ATPI’s ongoing commitment to innovation and growth, marking a notable milestone in the company’s journey. The atmosphere was filled with warmth and camaraderie, making for a truly unforgettable night of celebration and networking.
Mr. Ali Hussain, Regional Managing Director of ATPI Asia, shared his perspective on the evolving challenges in global travel, particularly within the maritime sector. “The shipping industry should actively seek to leverage opportunities such as new immigration policies and touchless travel procedures to streamline crew entry and exit processes,” said Mr. Hussain. “Consider the adoption of pre-travel authorisation by many countries and the adoption of passportfree immigration using facial recognition
Pratik Bijlani
technology - this is a model of efficiency the maritime sector should collectively advocate for in crew travel. Yet, despite global technological advancements, maritime travel especially of crew from nationalities like India, continues to require extensive supporting documentation. In a world of increasing digital identity, this presents an opportunity for the industry.”
To address these challenges, Mr. Hussain emphasised the need for collaborative advocacy and digital transformation within the maritime sector. “Industry stakeholders must work closely with regulatory authorities to push for policy reforms that embrace digital solutions, reducing bureaucratic
hurdles for crew movements,” he stated.
“By leveraging partnerships with technology providers, the shipping industry can adopt secure, digitised crew identification systems similar to those used in aviation. Additionally, standardising immigration requirements across key maritime hubs would facilitate smoother crew transfers and enhance operational efficiency.
Mr Hussain also delved into ATPI’s ambitious growth strategy, highlighting the company’s deliberate efforts to form and foster key partnerships that fuel its expansion. He specifically mentioned the company’s deepened alliance with Direct Travel, a strategic partner that
enables ATPI to remain at the forefront of technological advancements and innovative solutions.
“ATPI is expanding across India while leveraging the country’s growing expertise in advanced technology, including artificial intelligence and next-generation booking tools,” he stated, underscoring ATPI’s commitment to harnessing innovative solutions to enhance its services. “We draw insights from the multitude of high-performance sectors ATPI serves, subsequently crafting bespoke solutions precisely calibrated for specialist industries such as shipping. Our deep maritime travel expertise enables us to develop tailored systems
that directly address the unique challenges shipping companies face. As ATPI India approaches its 30th anniversary in 2025, we take pride in our enduring partnership with our customers throughout this three-decade journey—an enduring testament to our reliability and deep-rooted commitment to the maritime sector.
Mr Hussain further outlined ATPI’s ambitious expansion strategy, highlighting new subsidiaries in several key regions, including South Korea, Taiwan, the Middle East, Saudi Arabia, and Africa. This significant investment in global growth underscores the company’s commitment to building a robust presence in strategic markets and reinforcing its position as a trusted partner for the maritime and travel industries.
The event served as a poignant reminder that, even in a rapidly evolving industry, the power of personal relationships and connections remains a vital catalyst for growth, collaboration, and success. As attendees laughed, learned, and celebrated together, the evening became a testament to the enduring importance of human connection in the business landscape.
TECO Chemicals’ First Ever Industry Gathering in Mumbai
The company while fostering collaborative partnerships, aims to leverage collective expertise & capabilities driving innovation, operational efficiency and sustainable solutions for the maritime industry.
TECO Chemicals marked a significant milestone with its firstever industry gathering in Mumbai, India bringing together over 100 maritime professionals for an evening of networking, collaboration and insightful discussions with an intent of business expansion and relationshipbuilding in key global markets.
A global leader in marine chemical solutions, TECO Chemicals specializes in IMO-2020 compliant marine chemicals, cleaning chemicals for tankers and bulkers, emission-control and maintenance chemicals, equipment for tank and cargo hold cleaning, remote cleaning consultations and supercargo services.
Addressing a distinguished audience of industry leaders, shipowners and maritime experts, Gaurav Saini, Managing Partner and CEO, TECO Chemicals emphasized the company’s mission to provide cutting-edge marine chemical solutions while fostering strong, long-term partnerships.
Since its establishment in 1994, the company has been dedicated to helping shipowners and operators meet environmental regulations while optimizing operational efficiency. With a strong focus on sustainability and technical expertise, TECO Chemicals has built a reputation for providing
tailored solutions to the world’s leading shipping companies.
The evening provided a dynamic platform for discussions on marine chemical solutions, environmental compliance and operational efficiency.
“This event was a testament to our commitment to India and the broader maritime industry. We are excited to build on the connections made and continue providing world-class solutions,” said Saini.
As a visionary leader of Indian origin, Mr. Saini has always envisioned expanding TECO Chemicals’ international footprint into his home country, recognizing India’s critical role in the maritime industry. His determination and relentless pursuit of excellence have taken TECO Chemicals to great heights, solidifying
its reputation as a trusted partner in marine chemical solutions worldwide.
The success of this event highlights TECO Chemicals’ commitment to building and strengthening industry alliances in the region. By fostering collaborative partnerships, the company aims to leverage collective expertise and capabilities to drive innovation, operational efficiency and sustainable solutions for the maritime industry, forging the Future of Maritime Solutions in INDIA.
With the success of this milestone event, TECO Chemicals looks forward to further strengthening its presence in India and beyond.
MMT
The Author
Mr Bansi Jaising
Russian Gas Prospects Dim as Ukraine Halts Transits and Europe
Weighs Complete Import Halt
Russia’s contract for the transit of its gas across Ukraine expired on December 31, 2024 and Kyiv refused to consider a new deal. Ukraine’s decision was supported by the European Commission, even though the lost imports are equivalent to 5% of European demand.
Many may have been surprised to learn that gas had continued to flow in the middle of a war between the two countries.
Although most pipeline gas from Russia to Europe had ceased, in 2024, Europe imported a record 21.5 billion cubic metres (bcm) of liquefied natural gas (LNG) from Russia—19% of its LNG imports.
Published data from Spain reveals that Russia remained its second-biggest supplier of LNG, accounting for 21.3% of Spain’s LNG imports.
The US remains the largest supplier of LNG to Europe, accounting for 48% of LNG supplied in 2024.
About 20% of Russian LNG that comes to Europe is reexported to third countries, a practice that EU sanctions will ban in March’25.
So, what is Europe’s strategy here? And how may the global Russian gas sales be affected by Ukraine turning off the taps?
In May 2022, three months after Russia’s invasion of Ukraine, the EU launched its REPowerEU plan. One of its principal aims was to overcome the EU’s dependence on Russian fossil fuels through the diversification of energy supplies.
The European Commission now points to the fact that 45% of the EU’s gas imports came from Russia in 2021, and that share had fallen to 15% in 2023 (although data suggests it increased to 18% in 2024 thanks to higher imports of Russian LNG).
But so far, the EU has not placed sanctions on importing Russian gas, though it has sanctioned the Arctic-2 LNG project and associated shipping and is banning the reloading of Russian LNG in EU ports.
The rapid reduction in pipeline exports to Europe is a result of Russian actions such as insisting in payment in Roubles, as well as the sabotage of the Nord Stream pipelines, an event still subject to much conjecture.
The European Commission is well aware that the global gas market is still delicately balanced and that sanctioning Russia gas exports would result in very high prices, such as those seen in the summer of 2022. That energy crisis cost European Governments an estimated €650 billion (£547 billion) between September 2021 and January 2023 in measures to mitigate high prices.
In 2024, Russian gas reached Europe via three routes: transit through Ukraine (30%), via Turkey and the Turkstream pipeline (31%) and as LNG (39%).
During 2025, assuming no resumption of Ukrainian transit, flows will be restricted to Turkstream and LNG.
As the global LNG market remains tight, falling Russian imports expose Europe to continued price volatility. But with a wave of new LNG production expected to kick in from 2027, it is plausible that the EU could stop all imports of Russian gas by the end of 2027.
This is what the EU’s new Energy Commissioner, Dan Jorgensen, announced in November 2024.
It is unclear what the European Commission plans to do, presumably a continuation of measures to improve energy efficiency, accelerate the energy transition, and reduce gas demand. But an outright ban on Russian imports is unlikely until the global LNG market is better supplied.
However, the previous Biden administration in the US had placed additional sanctions on the Russian oil and gas industry, which could make things awkward for Brussels. Donald Trump is a long-time critic of Europe’s dependence on Russian gas, so some difficult decisions may have to be faced as part of the new plan.
Gas futures
What might this mean for Russia and for global gas security?
Researchers at UK Energy Research Centre (UKERC) have published a paper in Nature Communications that forecasts how Russian gas sales might play out under two key scenarios.
The first is called “limited markets” and assumes that the EU stops all Russian gas imports by 2027 and alternative routes for Russian exports are hampered by sanctions on LNG technology and infrastructure and a lack of new pipeline capacity.
On the latter, this would happen if the Kremlin and Beijing fail to reach an agreement on building the 50 billion cubic meter (bcm) Power of Siberia 2 pipeline. This would limit exports to China to the 38bcm Power of Siberia 1 route and a new 10bcm pipeline from the Russian Far East.
The second scenario, called “Pivot to Asia”, assumes that agreement is reached on Power of Siberia 2 and Russia is also able to scale up LNG exports more rapidly. It also assumes exports to Europe would continue via Turkstream and there are no restrictions on LNG imports (the situation that prevails today).
The research also considers each scenario with relatively lower and higher future global gas demand, which will be determined in large part by climate policy ambition.
Overall, the research finds that Russia will struggle to regain pre-crisis gas export levels. Compared to 2020, Russia’s gas exports will have fallen by 31%–47% by 2040 where new markets are limited, and by 13 to 38% under a Pivot-to-Asia strategy.
Higher demand from China will not significantly improve prospects for Russia. Crucially, any future Pivot-to-Asia is contingent on Chinese energy security and climate mitigation strategies.
It is noteworthy that in late 2024 shares in Russian state gas company Gazprom fell to a 16-year low. This was partly because of a US$7 billion (£5.73 billion) loss in 2023 and a cancellation of dividend payments. But there is also geopolitical uncertainty over the state-controlled company’s ability to find new export routes.
Two crucial questions are raised about the future role of Russian gas on global markets.
First, will the EU hold its resolve and stop all Russian gas exports by 2027 or might a cessation of Russia’s war on Ukraine result in an almighty U- turn?
Second, come what may, can Russia find new export routes and markets for its huge Gas reserves?
The two questions are related as increased Russian pipeline Gas exports to China reduce the need for China to import LNG, resulting in a more liquid global LNG market for Europe to import the gas it needs, principally from the US. Ironically, this could be an outcome that could also ease looming trade frictions between the EU and the incoming US President.
Order Book / Trading ratio in Units : 19.7% 15% of the Trading fleet is over 20 years of age; 23% is between 15-19 years; 12% between 1014%; 25% between 5-9 years and 25% is less than 5% years of age.
All LNG gas carriers including LNG/ Ethylene combination carriers.
All LNG Carriers in Age Profile in Number of Units
NR Krishna Kumar Naval Architect Co-Founder and Managing Director, Karminn Marine Pvt Limited Partners for Green Transition Member Executive Committee, AMICIE
Who Will Steer, Build, and Own India’s Ships?
Navigating India’s Maritime Ambition with the ₹25,000 Crore Boost
The Indian government has set sail on an ambitious course to transform the nation’s shipbuilding and Shipping industry. With a significant revamp of the Shipbuilding Financial Assistance Policy, the government has announced the establishment of a Maritime Development Fund worth ₹25,000 crore. This move is a game-changer, aimed at revitalizing the shipbuilding sector, fostering innovation, and making India a formidable player in the global maritime economy. This fund with the objective of financing ship acquisitions is expected to generate around 1.5 lakh crore rupees ($17.2 billion) in the shipping sector by 2030.
A Bold Maritime Vision
India, with its vast coastline and strategic maritime position, has long held the potential to be a dominant force in shipbuilding. However, fragmented policies, lack of financial support, and stiff international competition have often hindered progress. The Maritime Development Fund signals a clear intent to overcome these challenges. With 49% government contribution, the fund is expected to provide much-needed financial aid to shipbuilders and coastal Shipping, easing capital constraints and accelerating industry growth.
Beyond Financial Support: Building a Competitive Shipbuilding Ecosystem
While financial assistance and Infrastructure status is crucial, India must also address the structural gaps in its shipbuilding/shipping infrastructure. The industry requires:
• State-of-the-art shipyards with modernized equipment and skilled manpower
• Strategic public-private partnerships to
foster efficiency and global competitiveness
• Robust RCD investments and ship design capabilities to develop next-generation vessels, including green shipping solutions
• Policy continuity and regulatory ease to attract sustained foreign and domestic investments
The Global Race: Can India Compete?
Countries like China, South Korea, and Japan dominate the shipbuilding industry, leveraging economies of scale, technological superiority, and aggressive government backing. To compete, India must not just build more ships, but build smarter—focusing on specialized vessels, energy-efficient designs, and indigenous technological advancements.
The Ripple Effect: Jobs, Trade, and Economic Growth
A thriving shipbuilding sector doesn’t just
strengthen maritime capabilities—it has multiplier effects across the economy. It can:
• Generate thousands of high-skilled jobs in engineering, manufacturing, and supply chains
• Reduce dependency on imported vessels, improving trade balance
• Position India as a key player in the global green shipping movement, with an emphasis on sustainable and energy-efficient ships
Who Will Bell the Cat? The Road Ahead
• While the ₹25,000 crore funds is a strong push, execution remains the key challenge. The industry now awaits clear implementation roadmaps, disbursement mechanisms, and policy continuity to ensure long-term success. Will private players step up? Will bureaucratic delays derail the momentum?
• The vision is clear, but the execution must
be swift and strategic. If navigated well, India can turn the tide and emerge as a global maritime powerhouse. The anchor is lifted— now, who will steer the ship?
Demand-Side Issues: The Challenge of Generating a Steady Order Book
1. Limited Commercial Shipbuilding Demand – Domestic & Global Competitiveness
India’s shipbuilding sector primarily caters to niche segments, with coastal and inland vessels forming a small fraction of the industry. Meanwhile, the global commercial shipbuilding market is dominated by China, South Korea, and Japan, who offer aggressive pricing, advanced technology, and strong government support. Without a steady demand pipeline, Indian yards struggle to scale up operations profitably.
Solution:
• Focus on specialized vessel segments such as green shipping, LNG-powered vessels, and hybrid energy-efficient ships, where demand is increasing due to global carbon emission mandates.
• Strengthen domestic demand by encouraging coastal shipping, inland waterways, and offshore support vessel construction.
• Create long-term shipbuilding contracts with Indian fleet operators, oil majors, and coastal trade firms to sustain local demand.
2. The Cyclic Nature of the Industry –Surviving Market Downturns
Shipbuilding is inherently cyclical, with high-demand periods followed by deep slumps. Without a sustainable order book, many yards shut down during downturns. The absence of fleet renewal programs or counter-cyclical demand generation strategies exacerbates this issue.
Solution:
• Diversify shipyard revenue streams by integrating ship repair, retrofitting, and offshore/Blue economy engineering services to maintain financial stability.
• Encourage long-term fleet renewal programs in India, ensuring shipowners commit to gradual fleet modernization and replacement.
• Establish a National Shipbuilding Resilience Fund, providing financial aid to shipbuilders during low-demand periods.
3. Lack of Policy & Tax Incentives for Industry Growth
Unlike real estate, automotive, and IT industries, shipbuilding has not received the same level of government incentives. Heavy taxation, lack of export benefits, and unfavourable financial policies make Indianbuilt ships less competitive.
Solution:
• Offer tax holidays, reduced GST on ship components, and duty-free imports for critical raw materials.
• Introduce export incentives for Indianbuilt ships to compete in the international market.
• Ensure policy consistency to provide clarity and stability for investors and shipbuilders.
4. High Cost of Capital & Infrastructure Development
Building and modernizing large shipyards requires massive capital investment. However, high interest rates, limited financial incentives, and the long gestation period of shipbuilding projects make it difficult for Indian yards to expand.
Solution:
• Extend concessional financing and interest subsidies through the Maritime Development Fund, following best practices in global ship financing.
• Encourage joint ventures with global shipbuilders to facilitate technology transfer and infrastructure cost optimization.
• Develop maritime clusters, where shipyards can share common infrastructure to reduce capital expenditure.
5. Small Yards Are Resource-Constrained & Lack Management Expertise
Many small and mid-sized shipyards struggle with outdated technology, unskilled manpower, and poor project execution, leading to delays, cost overruns, and inconsistent quality.
Solution:
• Adopt a cluster approach, integrating small yards into the larger shipbuilding value chain as specialized subcontractors.
• Develop management training programs to improve operational efficiency and financial planning for small yards.
• Provide incentives for technology adoption and digitalization, allowing smaller yards to automate processes and increase efficiency.
6. Weak Ancillary Industry – Dependence on Imports
India lacks a well-developed marine ancillary industry, forcing shipbuilders to import key components such as engines, propulsion systems, and electronics. This increases costs, extends lead times, and reduces India’s competitiveness in global markets.
Solution:
• Set up marine component manufacturing
hubs within shipbuilding clusters.
• Offer tax incentives and subsidies to encourage domestic production of ship engines, propulsion systems, and navigation equipment.
• Establish strategic partnerships with global marine OEMs to localize production.
7. Lack of Collaboration & Subcontractor Development
Unlike South Korea and Japan, where shipbuilding thrives on strong subcontractor ecosystems, Indian yards squeeze subcontractors rather than fostering their growth. Subcontractor viability is often ignored, leading to quality and delivery issues.
Solution:
• Formalize a shipbuilding cluster strategy, where subcontractors receive long- term commitments and financial support.
• Promote joint investments between large shipyards and subcontractors to strengthen their viability.
• Provide subsidized credit lines to subcontractors for working capital support.
8. Lack of Project Management Capability
– Delays & Cost Overruns
India’s shipbuilding sector has faced severe project delays, eroding trust among buyers. Inefficient project execution, poor coordination, and weak process standardization are key reasons.
Solution:
• Invest in advanced shipbuilding project management software to improve tracking, coordination, and execution.
• Implement modular and blockconstruction techniques, reducing build times and enhancing efficiency.
• Develop specialized maritime project managers through targeted training programs.
Human Resource Challenges: Building a Skilled Maritime Workforce
9. Training, Skilling & Workforce Development
Shipbuilding demands highly skilled workers, but gaps exist in vocational training, hands-on experience, and projectspecific expertise.
Solution:
• Establish National Maritime Training Institutes focused on shipbuilding trades such as fabrication, welding, and outfitting.
• Implement an Industry-Academia Skilling Framework, integrating shipbuilding training into engineering and vocational education.
• Encourage apprenticeship programs in
collaboration with shipyards to create a steady workforce pipeline.
Beyond Policies: The Need for an Entrepreneurial Mindset
While government policies and funding initiatives are important, the real challenge lies in developing an entrepreneurial ecosystem within the shipbuilding/ coastal shipping industry. Unlike the automotive and real estate sectors, which have produced aggressive risk-takers, Indian shipbuilding and shipping has lacked visionary leaders willing to scale up operations.
The collapse of private yards decades ago, largely due to corruption, mismanagement, and cronyism, should not define India’s future. Instead, a new generation of shipbuilders, ship owners, naval architects, and industry professionals must step forward to drive innovation, efficiency, and competitiveness.
Steering, Building, and Owning India’s Maritime Future
Success depends on swift execution, strategic reforms, and bold action from all stakeholders. The Government must move beyond policy announcements and ensure fast implementation of incentives, tax
reforms, and export support. A stable and predictable policy environment is critical to attract long-term investments.
Shipbuilders must embrace technology, efficiency, and entrepreneurial thinking. Without a competitive mindset, India will continue to lag global players. Large yards must also nurture subcontractors instead of squeezing them, ensuring a robust supply chain.
Shipowners, especially in coastal shipping, must play a proactive role in driving demand and fostering industry growth. They must modernize their fleets with fuel-efficient and green vessels, aligning with global sustainability trends. Instead of relying on imported ships, they should prioritize domestic shipbuilding, creating a steady order pipeline for Indian yards. Collaborating with shipbuilders on longterm fleet renewal programs will ensure consistent demand, reducing the industry’s reliance on cyclical global markets.
Additionally, shipowners must work closely with financial institutions to advocate for better financing models and leasing options, making vessel acquisition more viable for operators. By taking an active stake in India’s shipbuilding ecosystem, they can
not only strengthen their own operations but also help shape a resilient and globally competitive maritime industry.
Financial institutions must extend lowcost financing and structured credit lines, enabling shipbuilders to scale up competitively. The Maritime Development Fund must have a clear and efficient disbursement framework.
Educational institutions and training bodies must overhaul maritime skilling programs to produce an industry-ready workforce. Without skilled manpower, even the best policies will fail.
Above all, the industry must shed its risk-averse mindset. The real estate and automotive sectors have produced visionary leaders—shipbuilding must do the same. If we fail to act now, India will remain a labour supplier in the global shipping and shipbuilding economy instead of an industry leader.
The anchor is lifted. The wind is favourable. Who will take the helm? It’s time for India to build, to own, and to lead.
From Chaos to Control
The Project that Tested Everything
Humera Nizam
The Voice of Shipbuilding
Life has a way of throwing curveballs, and for me, one of the biggest came with a shipbuilding project. It was my first major assignment after losing my dad, and I was still finding my balance. I remember the call from one of my LinkedIn connections— Titagarh Wagons Ltd, now known as TRSL, was looking for a shipbuilding partner. I joined my team for a meeting, hoping to make a solid impression, but when it was my turn to introduce myself, I completely froze. Instead of introducing the team or talking about our company, my mind went blank. I can still feel the awkward silence. Thankfully, my team stepped in and carried the conversation forward. Despite my slipup, we somehow secured the project. It felt like a win, but I knew I had a lot to prove, especially to myself. Execution started, and everyone was excited—this client had been on our wish list for years. But as the weeks passed, I started to notice an
unsettling silence surrounding the project. I went to the project leader, hoping to ease my growing anxiety. He reassured me, “No news is good news, Humera Ma’am,” but that calm didn’t last long.
Two days later, I received an intense call from the Senior Vice President of the client’s side. His frustration with the progress was clear. He demanded answers, and all I could manage to say was, “I don’t have your number, sir,” before the call abruptly ended. It wasn’t a good look, to say the least.
As I dug deeper, I found out the project had run into a few hurdles: the client had yet to issue the Purchase Order, which meant payments were uncertain, but the work had already started. It was a ticking time bomb. Despite these challenges, I decided to keep the team focused on completing the job. I took it upon myself to manage the payment and Purchase Order issues, hoping to keep everything moving forward.
What followed was a series of unexpected challenges:
- Material delays that stretched timelines.
- Constant ship design changes that led to rework.
- Growing dissatisfaction among labor due to frequent design changes.
- High attrition rates as people left due to the stress.
The team was starting to lose faith in me. I was still struggling with personal grief, and they could sense it. I knew I needed to step up, not just for the project, but for them. So, I began documenting every single issue. I shared these insights on LinkedIn, hoping to get some guidance from my network—
maybe even some understanding from the client and our leadership.
Slowly, we came up with strategies to regain control:
1. We made sure the project leaders were physically present at the site, full-time. There was no room for distance anymore.
2. Open communication became our mantra. We reached out to everyone involved— procurement, production, quality checks—and kept the dialogue flowing.
3. We took a more hands-on approach with labor issues, ensuring minimal disruption during replacements and addressing grievances directly.
Little by little, things started falling into place. But then came the final challenge: the vessel had to be relocated to a distant shipyard. The
team would have to work around the clock, day and night, to ensure everything was completed on time. It wasn’t an ideal situation, but we stood by them, promising that once it was over, we’d have their backs.
In the end, we managed to deliver the vessel successfully to the client. And when the client delivered it seamlessly to their end customer, I felt an overwhelming sense of pride—pride not just in the work, but in the journey we had been through together.
This project was a turning point for me. It wasn’t just about overcoming technical challenges—it was about resilience, leadership, and the importance of staying true to your team even when things feel impossible. Sometimes, one project really can change your life.
