India continues to have a minor share in the international shipping sector and has been forced to become a net importer of shipping services, especially ship financing.

This is despite the country having a large coastline, a growing domestic market and international maritime trade, deep-rooted maritime traditions and skilled seafarers.

The report, Ship Acquisition, Financing and Leasing (SAFAL), was submitted to the International Financial Services Centers Authority (IFSCA) on October 28, 2021 by the International Financial Services Centers (IFSC) Ship Acquisition, Financing and Leasing Development Pathways Committee.

The committee was constituted by IFSCA on June 24, 2021 under the chairmanship of Vandana Aggarwal with representatives from the Government of India, Gujarat Maritime Board, industry and finance experts and academicians.

Maritime transport is essential for India. Nearly half of India’s border is covered by the sea, with a coastline of some 7,517 km, with 12 major and 205 minor ports. In addition, India is strategically located on global shipping routes. The Ministry of Shipping has estimated that about 95% of India’s merchandise trade by volume and 70% by value is carried by sea transport.

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India needs to step up investment in its shipping sector

Shell Marine has rolled out a set of exciting enhancements to its LubeMonitor service, to go beyond all traditional “cylinder condition monitoring” programs and position itself as the go-to place for all your engine monitoring needs.

By offering a broader range of technical and operational information, Shell LubeMonitor enables users to better understand the performance of their vessel’s engine, ensure it is operating in accordance with OEM recommendations and ultimately help reduce maintenance costs.

While its functions have become more sophisticated, Shell LubeMonitor’s user interface and reports are now simpler and geared to deliver what users need most. Among its new features:

Enhanced fleet and vessel information that goes beyond traditional reports: allowing users to compare vessels from fleet level to their cylinders, all organized in an easy-to-read manner (benefiting both onshore and offshore users).

A step-by-step guide for shipboard engineers that can help standardize the inspection process.

A complete engine inspection function that can include recorded measurements of piston ring clearance, piston ring liner and liner wear.

All data can be stored and organized with captured photos, so users can return to it at any time.

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Shell Marine transforms LubeMonitor for the digital age

PUBLISHED NOV 12, 2021 2:57 PM BY THE MARITIME EXECUTIVE

The creation of green corridors offers the best opportunity to accelerate progress in tackling challenges of decarbonizing the shipping industry, a new report suggests.

A day after an alliance of 22 nations signed a declaration committing to create zero-emissions shipping green corridors, a new report by the Getting to Zero Coalition reckons that green corridors provide sufficient scale and volume for impact. This is because they are large enough to include all the essential value-chain actors, including fuel producers, vessel operators, cargo owners and regulatory authorities.

Green corridors also provide offtake certainty to fuel producers, allowing for additional scaling of zero-emission fuel production concentrated in one location. They can also create demand signals to vessel operators, shipyards and engine manufacturers to scale up investments in zero-emission shipping.

A green corridor is defined as a shipping route between two major port hubs on which the technological, economic and regulatory feasibility of zero-emissions ships is accelerated by public and private action. The report suggests that collaboration, a viable fuel pathway, customer demand and regulation are the four critical ingredients.

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https://www.maritime-executive.com/article/getting-to-zero-coalition-identifies-prime-green-corridor-routes

Eight tankers owned by Brightoil will be auctioned online in December this year, after the company’s restructuring bid failed last year.

Katherine Si | Nov 16, 2021

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https://www.seatrade-maritime.com/tankers/eight-brightoil-tankers-facing-online-auction

More than a dozen shipowners have made payments of about $300,000 apiece to release vessels detained by the Indonesian navy, which said they were anchored illegally in Indonesian waters near Singapore, according to sources with direct knowledge of the matter.

The dozen sources include shipowners, crew and maritime security sources all involved in the detentions and payments, which they say were either made in cash to naval officers or via bank transfer to intermediaries who told them they represented the Indonesian navy.

Reuters was not able to independently confirm that payments were made to naval officers or establish who the final recipients of the payments were.

The detentions and payments were first reported by Lloyd’s List Intelligence, an industry website.

Rear Admiral Arsyad Abdullah, the Indonesian naval fleet commander for the region, said in a written response to Reuters’ questions that no payments were made to the navy and also that it did not employ any intermediaries in legal cases.

“It is not true that the Indonesian navy received or asked for payment to release the ships,” Abdullah said.

He said there had been an increasing number of detentions of ships in the past three months for anchoring without permission in Indonesian waters, deviating from the sailing route or stopping mid-course for an unreasonable amount of time. All the detentions were in accordance with Indonesian law, Abdullah said.

The Singapore Strait, one of the busiest waterways in the world, is crowded with vessels waiting for days or weeks to dock at Singapore, a regional shipping hub where the COVID-19 pandemic has led to long delays.

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https://www.marinelink.com/news/shipowners-payoffs-free-vessels-held-492095