Dear Readers,
In less than a month, India witnessed two ship disasters off its coast – a container ship capsized and sank while another caught fire, triggered by an explosion in one of the containers on board.

While the environmental damage from the mishaps is yet to be ascertained, the incidents showed India’s unpreparedness in dealing with high stakes maritime casualties.

However, more than the fire on board ‘Wan Hai 503’ that lingered for many days before it was doused by the valiant efforts of the Indian Coast Guard and the Indian Navy, it was the sinking of ‘MSC ELSA 3’ that proved to be graver as it revealed insights into one of the “most opaque and under-regulated dimensions of global maritime commerce”, which ET Infra reported in detail.

This dark side of shipping holds huge ramifications for India as borne out by the events that unfolded post the sinking of the ship.

It is a wake-up call for Indian authorities as well as global maritime organisations such as the International Maritime Organisation (IMO) to undertake reforms in the maritime sector to tackle such incidents.

The sooner it happens, the better it is for the safe operation of ships.
Read the full story

Other top stories of the week:

Mitsui OSK to invest in Indian logistics startup
Japanese shipping major Mitsui OSK Lines is investing in an Indian logistics startup as part of a broader non-marine expansion strategy.
More here


JSW Infra set to win ₹832 cr container terminal at Kolkata Port
JSW Infrastructure is poised to bag the Netaji Subhas Dock terminal project, boosting its eastern maritime presence.
Read the update


Adani’s $1.2 billion Haifa Port deal faces geopolitical heat
Adani’s strategic acquisition of Haifa Port in Israel faces scrutiny amid rising regional tensions, but the move underscores its global port ambitions.
Full story


India’s largest port in the making eyes ₹30,000 cr debt raise
The mega Vadhavan Port project, set to become India’s biggest, will soon tap markets for ₹30,000 crore in debt financing to fund its development.
Catch the update


Strait of Hormuz stays open, but risk triggers rerouting
Despite remaining navigable, rising tensions in the Middle East have prompted shipowners to re-route vessels away from the Strait of Hormuz, one of the world’s most critical maritime arteries.
Read more


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