Shipbuilding Sector

FM Sitharaman - in Union Budget speech - unveiled a slew of measures to open Indian maritime economy, including ₹25,000-crore maritime development fund, tax breaks, and new shipbuilding subsidy policy

The Maritime Development Fund announced by the FM will have a corpus of Rs 25,000 cr; besides, tax breaks and easier infra credit access to shipbuilders aim to reinvigorate the shipbuilding industry

Sitharaman announces shipbreaking credit note scheme, Maritime Development Fund

India paid $109 billion in sea freight to foreign operators in 2021-22, and last year stood vulnerable to international price volatility and impact of sanctions on Russia during the geopolitical crise

The initial rally in the Mazagon Dock share was fuelled after the company secured a deal worth Rs 1,990 crore from the Ministry of Defence

Cochin Shipyard, Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders have corrected up to 51% from their respective 52-week highs touched in July 2024.

India's shipbuilding industry aims to become one of the top ten by 2030, here is where India stands compared to the rest of the world

Sonowal says coastal states to soon have own shipbuilding policies

Ministry of Ports, Shipping and Waterways (MoPSW) is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures, a senior government official has said. Ports, Shipping and Waterways Secretary T K Ramachandran further said with the new policy, India will endeavour to be among the top 10 shipbuilding nations by 2030 and the top five by 2047, from 22nd in the world at present. "Yes, this ministry is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures," he told PTI. Ramachandran also said global cruise major MSC Cruises, based out of Geneva, has expressed willingness to deploy their ships for domestic itinerary. He said MoPSW in coordination with Ministry of Petroleum and Natural Gas is planning to have a JV between Shipping Corporation of India (SCI) and oil marketing companies to own large tankers. "The model of ownership is still to be decided depending upon demand requirement

Shipbuilding, Cruise Push to Pave Way for Employment, says Sonowal

Shares of Hariyana Ship Breakers were locked in the upper circuit for the fourth straight trading day, up 10% at Rs 222.90, also its record high on Tuesday.

Govt to come up with new shipbuilding policy as part of 100-day plan

The Adani Group's undisclosed shipbuilding initiative is embedded within Mundra Port's Rs 45,000 crore expansion plan, recently cleared by environmental authorities

The surge in stock price came after Shipping Corporation of India said that it has been granted in-principle approval to form a wholly-owned subsidiary at GIFT City

Thus far in the month of April, these stocks have zoomed up to 58 per cent

The world's largest cruise ship is set to begin its maiden voyage Saturday as it gets underway from the Port of Miami. Royal Caribbean's Icon of the Seas, which runs nearly 1,200 feet (365 metres) from bow to stern, is leaving South Florida for its first seven-day island-hopping voyage through the tropics. The ship was officially christened Tuesday with help from soccer legend Lionel Messi and his Inter Miami teammates. Icon of the Seas is the culmination of more than 50 years of dreaming, innovating and living our mission to deliver the world's best vacation experiences responsibly," Royal Caribbean Group President and CEO Jason Liberty said earlier this week. She is the ultimate multigenerational family vacation, forever changing the status quo in family travel and fulfilling vacation dreams for all ages on board. When the Icon of the Seas was first revealed in October 2022, the ship spurred the single largest booking day and the highest volume booking week in Royal Caribbean's .

The minister said that CSL is the biggest operational ship repair ecosystem infrastructure in South Asia

The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.

The stock hit a new high of Rs 610.75, and has rallied 12 per cent in past two days, surpassing its previous high of Rs 598.90, touched on November 24, 2017.

Thus far in FY23, MDL (up 277%), GRSE (201%) and Cochin Shipyard (185%) have seen their market price appreciated more than 100%, as against nearly 4% rise in Sensex.