Category Archives: Shipping

Containerisation is essential: President, AMTOI

“Currently in India we have achieved approx 50 per cent containerisation and eventually we need to reach the level of 70-80 per cent which the developed countries have already achieved. The size of multimodal logistics for EXIM cargo in India is approx four million TEUs, we have had 18 continuous months of drop in exports, however the ports volumes are marginally up by four per cent, which means that there is an increase in imports. Hence, the current growth rate is apex two per cent which is likely to increase in coming years,” says, Vivek Kele, President, AMTOI.  

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India and US to enhance cooperation in maritime sector

India and the United States have agreed to deepen the scope of cooperation in the maritime sector with the American ports evincing keen interest in comprehensive port-led development, especially the ambitious Sagarmala programme. The 150 projects under this programme have the potential to mobilise $50-60 billion of infrastructure investment and another US$ 100 billion of investment for promoting industrial growth. The Shipping Minister outlined the regulatory assistance which the Narendra Modi government has offered to the maritime sector, including grant of infrastructure status to shipyards, supportive domestic eligibility criteria for Indian shipyards for assured ship repair orders, service tax exemption on ship repair service for foreign going vessels, setting up of ship repairing business immediately without any approval from director generals.

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