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Thousands of ships set to be hit by India’s age restrictions
February 2, 20232 12,651 1 minute read
Essar Ports Greek data firm MarineTraffic has provided some details of the ramifications of the upcoming Indian ban on older ships. New Delhi is readying age restrictions for ships calling at the world’s second most populous nation. Under the new rules no bulk carrier, tanker or general cargo ship aged 25 or older will be allowed to call at Indian ports. For gas carriers, offshore vessels and boxships the age limit will be set at 30 years. Locally flagged ships will be deregistered when they hit these new age limits. Furthermore, owners will not be able to locally flag any secondhand acquisitions that are 20 years old or above. MarineTraffic data shows that 3,802 tankers and bulkers built prior to 1998 arrived in India in 2022. Regarding the new rule ito ban ships older than 20 years from registering with the Indian flag, MarineTraffic notes there are currently 753 ships built prior to 2003, which are registered under the Indian flag, 133 of which are tankers and 61 bulkers. According to Xclusiv Shipbrokers, India is responsible for 17% of the world seaborne iron ore trade, 19% of the world’s seaborne coal trade and 2% of the world’s seaborne grain trade. On the wet market, India is responsible for 12% of the world’s seaborne crude oil trade and 7% of the world’s seaborne oil product trade. “Although operators of older vessels only face losing access to one country, India’s growth is only set to make this restriction more significant as time goes by,” a recent report from Allied Shipbroking suggested. India Photo of Sam Chambers Sam Chambers Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune. Website Twitter LinkedIn Golar buys out New Fortress stake in Cameroon FLNG unit Euronav shareholders to vote on board changes on March 23 FMC demands answers from MSC over congestion surcharges ST Engineering acquires Keppel FELS yard OceanPal secures capesize charter with Koch Golar buys out New Fortress stake in Cameroon FLNG unit Euronav shareholders to vote on board changes on March 23 Comments S.K.MOHAN RAJ says: February 3, 2023 at 6:15 pm In India most of the businesses are hit badly by our government useless Policies..Every day a new rule is formed.. The policy makers make the policies during night time.. Sailor boy says: February 6, 2023 at 12:12 am Good move, at some point of time this was very much needed .Better late than never. Just for the sake of money , we shouldn’t take everything for a ride especially environment Those rusty buckets need to be thrown out from India waters. Newsletter DAILY SPLASH NEWSLETTER Subscribe now for free daily news updates. 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101848723 : Good news or bad news?
Fortunecow88 OP 101848723 : Should be good .
Small bull : India has so many shipyards, haha.