Saturday, September 13, 2014

Indian shipping ready to take next leap - lifetime licensing model for Indian ships whereby shipping companies no longer need to renew vessel licences every year

The direction and pace at which the government was moving to transform India’s shipping industry would increase buoyancy and investment opportunities, experts said, although the initiatives were yet to make a noticeable contribution to the country’s gross domestic product.

“To stimulate growth in any industry, it is important to put a policy in place, and we can see the government making efforts in this direction. Cutting unnecessary procedures is one of the important steps the government has taken,” a senior executive with Mercator told Business Standard.

In July, the shipping ministry came up with a lifetime licensing model for Indian ships whereby shipping companies no longer need to renew vessel licences every year.

Publication Date: 13 September 2014

1 comment:

  1. Our country sees tremendous growth in shipping industry. New building of ships is an encouraging sign to cater demands from marine oriented businesses. On the other hand there is a greater shipping demand to deal with refurbishment of aged carriers. We have significant percentage of Indian ships that have crossed 20 years of operation. This fleet requires frequent and extensive repair and maintenance. Corrosion of ship construction materials, the serious concern, often neglected by the industry is paving the way for greater impact in the life cycle cost. Marine fouling is another alarming area that fuels the parameters responsible for corrosion damage. These failures pose greater challenges to the ship owners not only in the materials part, but also leading to high demand for energy consumption and sizeable investment for environmental management. Corrosion should be viewed as an acquisition risk that calls for implementing proper corrosion prevention in the initial stage itself. It is argued that the Indian shipping industry in the present stage has not been so proactive in embracing the use of environment friendly technologies and the implementation of a full fledged life cycle approach would not be an easy task. Corrosion management appears to be an iceberg for shipping industry in India. When these issues are neglected by the asset owners, we will end up in loosing the significant material resources and heavily impacting our marine environment.

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