Join our crew and become one of the 104,819 members that receive our newsletter.

Manmohan Singh india prime minister

Future of India’s shipping industry looks strong, port expansion must accelerate

GCaptain
Total Views: 14
October 1, 2011

Manmohan Singh india prime ministerMUMBAI (Dow Jones)–India’s shipping industry should speed up the expansion of its ports, increase dredging facilities and invest in coastal shipping, the country’s prime minister Manmohan Singh said Saturday.

“We need to accelerate the pace of expansion of the port sector, especially through public/private partnerships,” Singh said at an event. “We also need to improve the draught in our ports by increasing the pace of dredging,” he added.

Despite carrying out the majority of export-import trade across its coastlines, India’s total tonnage accounts for only 1.1% of the global cargo carried. India’s current tonnage at ports is about 850 million tons, which is expected to grow to about 2.49 billion tons by 2020.

Singh also said the country needs to urgently deal with growing instances of piracy across coastlines. The increase of sea piracy in the last few months beyond the usual area in the Gulf of Aden, has put increasing number of vessels at risk and increased insurance costs for trading seafarers.

“Our navy, coast guard and shipping companies are putting up a concerted effort in close coordination with other international agencies to deal with the menace,” said Singh.

-By Anirban Chowdhury, Dow Jones Newswires

Tags:

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 104,819 members delivered daily straight to your inbox.

Join Our Crew

Join the 104,819 members that receive our newsletter.