A policy on cargo support for Indian shipping will likely earmark this share of business exclusively for vessels flying the Indian flag, according to outgoing Shipping Secretary K Mohandas.
Over the last three decades, Indian shipping lines have been steadily losing their share in the country’s foreign trade cargo even as trade volumes have expanded exponentially.
Shipbuilding downturn to last '10 years'
The present shipbuilding downturn could last for up to 10 years as newbuilding orders will progressively shrink due to excessive tonnage in the market, said the boss of a Singapore-based offshore vessels builder.
The outlook is especially negative in the container shipping segment, while the offshore support vessels (OSVs) sector remains fairly unscathed despite indications of potential oversupply within certain OSV categories, according to Ang Kok Tian, managing director at ASL Marine.
“The shipbuilding downturn during this period is going to last for many years – maybe 10 years. There's no such thing as a three to five-year downturn,” Ang believed.
Confusion reigns over Indonesia cabotage for offshore marine
Confusion over Indonesia’s cabotage laws and the ability to gain waivers from Indonesian-flag requirements for offshore vessels is causing some international players to shy away from the emerging market
“We get more enquiries about Indonesia than any other country [in the region], it is simply a nightmare to work there. The regulations are badly written and difficult to understand, it’s a real challenge,” said Denys Hickey, head of energy and offshore division Asia Pacific for Ince & Co.
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