The Cabinet’s approval aims to enhance coastal shipping operations and integrate inland waterways in India.
The Cabinet, chaired by Prime Minister Narendra Modi, has approved the Coastal Shipping Bill, 2024, which aims to streamline shipping operations in India by reducing bureaucratic hurdles and enhancing the integration of inland waterway shipments with coastal shipping. This legislation will repeal Part XIV of the Merchant Shipping Act, 1958, excluding Section 411A, benefiting Indian ship owners, non-vessel operating common carriers, cargo owners, Indian seafarers, and shipyards.
The Coastal Shipping Bill proposes eliminating the requirement for trading licenses for Indian flag vessels engaged in coastal trade. It also seeks to align regulations for international trade ships with global standards, promoting competitiveness within the sector. Additionally, the bill aims to facilitate the integration of coastal maritime transport with inland waterways, thereby creating a conducive environment that reduces transportation costs.
To further bolster the sector, the bill proposes establishing a secure regulatory framework for coastal trade activities and creating a national database of coastal shipping that includes information about licenses issued. This initiative is expected to increase the share of Indian vessels in coastal shipping, fostering growth in the maritime industry.
