Cargo Breaking News
The Lok Sabha passed the Bills of Lading Bill, 2024, which aims to update and simplify the legal framework for shipping documents replacing the colonial era 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. 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 Ministry of Ports, Shipping and Waterways said in a statement. 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. Union Minister Sarbananda Sonowal termed it a historic milestone in India’s journey towards a modern, efficient, and globally competitive shipping sector. “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,” the statement added.
The Bill will be presented in the Rajya Sabha.
