Tag: Shipbreaking
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India’s Maritime Development Fund: Transforming the Nation’s Shipping and Maritime Sectors
India’s Maritime Development Fund: A Paradigm Shift in the Shipping and Maritime Sectors Introduction to Maritime Development Fund The newly announced ₹25,000 crore Maritime Development Fund represents a significant initiative by the Indian government, aimed at revitalizing the nation’s maritime landscape. As outlined in the proposals associated with the 2025 Budget, this fund is poised…
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Alarming Practices in Shipbreaking: Environmental and Safety Challenges in South Asia
The Shipbreaking Industry: Environmental and Safety Concerns The shipbreaking industry faces significant environmental and safety challenges, with 80% of global vessel tonnage scrapped in 2024 dismantled under substandard conditions, primarily in South Asia. This article delves into alarming practices, focusing on Bangladesh, India, and Pakistan, and explores the regulatory frameworks, technological innovations, and future prospects…
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“India’s Maritime Development Fund: Charting a Course for Global Maritime Leadership”
Introduction to India’s Maritime Development Fund The establishment of India’s Maritime Development Fund marks a significant milestone in the nation’s maritime journey. Announced recently during the Union Budget, the fund has a corpus of approximately ₹25,000 crore (about $3 billion) [Source: Reuters]. The primary objective of this fund is to provide long-term financing for the…