• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

A lot of changes are now taking place in the country’s shipping sector. Companies which were not in shipping are now entering the business of operating ships and these include both private and public sector players. This is presumably because these companies would like to have better control over their cargo movement, particularly movement of raw materials. Similarly, traditional shipping companies, both in the private and public sector, are foraying into non-shippin g activities such as ship-building, terminal operations, dredging, etc. In fact, the performance report of one private shipping company shows that its earnings from non-shipping businesses are more than that from shipping operations. Another important development is that Indian shipping companies are now being allowed to flag their vessels outside the country, which was not the case so far, although the permission from the appropriate authorities is being given on case-by-case basis. Which means, the Indian vessels flagged outside will enjoy freedom in many respects, particularly in recruitment of crew. Some of the international free registries have already initiated moves to open their offices here, with at least one of them having made some headway in this regard.

OUR BUREAU

More Stories on : Shipping/Ports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line