Maritime Sector Current Affairs - 2020

CICMT: MoA signed between Ministry of Shipping and IIT Kharagpur

A Memorandum of Agreement (MoA) was signed between the Union Ministry of Shipping and Indian Institute of Technology (IIT), Kharagpur for setting up Centre for Inland and Coastal Maritime Technology (CICMT). The MoA will focus on indigenisation of ship designing, building and testing. About Centre for Inland and Coastal Maritime Technology It is a state-of-the-art Read More…

Union Cabinet approves introduction of Merchant Shipping Bill, 2016

The Union Cabinet has approved introduction of the Merchant Shipping Bill, 2016 in the Parliament. The bill is a revamped version of the Merchant Shipping Act, 1958. It seeks to repeal Merchant Shipping Act, 1958 as well the Coasting Vessels Act, 1838. Key Features of Bill Allows substantially-owned vessels and vessels on Bare Boat-cum-Demise (BBCD) Read More…

Union Cabinet approves incorporation of Sagarmala Development Company

The Union Cabinet has approved the incorporation of Sagarmala Development Company (SDC) to give a push to port-led economic development under ambitious Sagarmala project. SDC will be incorporated under the Companies Act, 2013, with an initial authorized share capital of 1,000 crore rupees and a subscribed share capital of 90 Crore rupees. About Sagarmala Development Read More…