In the first, Indian banks are being pushed to accept ships as a guarantee for loans to build a ship, a bold movement to the maritime sector of Turbocompressor of India, senior officials of the Ministry of Ports, Shipping and Waterways (MOPSW) said. Business line.
With an impulse of policies in process, the plans are underway to finish the contours of the Maritime Development Fund and the financial assistance policy of the Naval Construction building 2.0.
The Ministry also wants to ensure that Indian banks begin acceptance ships as a guarantee to boost manufacturing activities here and obtain the ecosystem in the place as the policy intervention occurs.
In the case of shipping finances here in India, very few banks and financial institutions have the experience or infrastructure necessary to evaluate these projects, sources said. Most of the other commercial banks have shown considerable skepticism by assuming the exhibition in the shipment, citing the associated risks as well.
Financing groups
By the way, one of the concerns raised by banks and financial institutions has been the recovery of the asset, in this case, the ship, after a loan breach.
The sources, they said, India is analyzing the rules of the Convention of the Judgment of Brussels (related to the trial of the maritime ships) that establish rules for the trial of the ships in relation to the maritime claims. Its objective is to provide a legal framework to ensure thesis claims by allowing the trial of a ship.
Althegh, India is not signatory, the principles of these conventions are to consult part of the customary law of India. This means that Indian courts can use the principles of these conventions to resolve maritime disputes, including the ship’s trial.
“Therefore, we are working to ensure that the Indian banks accept the ship as safety or guarantee; and the ship’s construction pits advance. In most cases, banks look Deters of bones, bone detests, bone detests, bones, bone detests.
Worldwide, some banks such as Christiana Bank, Abn Amro, Citibank are specialized in ship financing practices.
India, in his budget, this fiscal year, had said: “Large ships above a specific size will be included in the harmonized master list of infrastructure (HML).” This will make them eligible for benefits such as easier access to long -term fines and tax incentives. The details of the policy are in process, the sources said.
Push for shipbuilding
According to the official, lands for shipyards have been identified in three states: Andhra Pradesh, Gujarat and Tamil Nadu.
Moreoover, the Japanese shipping lines, the Korean ship manufacturer and a ship -based ship manufacturer in Rotterdam have expressed interest in taking advantage of construction opportunities here.
The discussions are underway and some of these companies are also exploring links with yards of Indian ships.
Posted on May 11, 2025
