Jain News

The international maritime industry, led by the International Chamber of Shipping, has joined together to express their concern for the seafarers from the Galaxy Leader who have been held hostage and call on the Houthis to release them.Monday February 19, 2024 marks the three-month anniversary since the Houthis seized the Galaxy Leader and its 25 seafarers in the Red Sea.The roll-on/roll-off vehicle carrier was seized on November 19.“The 25 seafarers who make up the crew of the Galaxy Leader are innocent victims of the ongoing aggression against world shipping…

The Institute of Chartered Shipbrokers has officially welcomed its new senior officers at a Controlling Council meeting held in Athens, Greece.Taking over from Glenn Murphy as International Chair of the Institute is Luis Bernat. Prior to his election as Chair, Bernat has held the position of Vice Chair since 2021. He brings to the role extensive experience gained over almost 50 years in the industry. This includes, most recently, his role as Chartering Manager for TSL Shipping & Trading.

GAIL (India) Ltd is close to finalizing a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said.The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.Neither state…

Liquefied natural gas (LNG) prices are poised for more gains as gas-hungry China guzzles cargoes to feed a rebound in economic growth while the easing of coronavirus-induced restrictions restores industrial demand in India.Higher oil and coal prices have also helped lift global gas prices with spot Asian LNG prices <LNG-AS> doubling in just three months."We believe this has been driven by a tightening of Asian LNG balances led by strong generation demand in southern China at the same time that South Korea reached peak nuclear maintenance…

The U.S. Department of Transportation’s Maritime Administration (MARAD) said Tuesday it is accepting applications from eligible and qualified institutions to apply for a Centers of Excellence (CoE) designation, which will recognize and support community or technical colleges and maritime training centers that prepare Americans for careers in the maritime industry.“These educational institutions benefit America’s national security and economy by growing and strengthening our maritime workforce,” said U.S. Transportation Secretary Elaine L.

A.P. Moller Maersk said on Tuesday a U.S. Department of Justice (DoJ) investigation into the practices of container shipping companies had closed and the group was released from any obligations.In 2017, the DoJ ordered top executives from several container shipping lines including Maersk to testify in an antitrust investigation over practices by an industry that is the backbone of world trade."We are pleased to confirm that the United States Department of Justice has closed its…

Subsea services provider Kreuz Subsea said it has been awarded a contract to deliver subsea completion work for Indian multi-national conglomerate, Larsen & Toubro (L&T) from the start of 2018. The contract, worth an undisclosed eight-figure sum, will see Kreuz Subsea support L&T to install all riser clamps, risers, crossing works, tie-ins, subsea trenching and hydro-testing of pipelines which are part of the Oil & Natural Gas Corporation’s (ONGC) Pipeline Replacement Project (PRP4) and Daman Field development projects off the west coast of India.

The final leg of "Coast to Coast" rally organized by Indian Navy as part of Social Outreach Programme was flagged off from Visakhapatnam on 28 March 2017 by Vice Admiral Atul Kumar Jain AVSM, VSM, Chief of Staff Eastern Naval Command. The outreach programme is an initiative of the Southern Naval Command organized as part of celebrations to commemorate the Platinum Jubilee of INS Valsura. The team arrived Visakhapatnam Tuesday afternoon and interacted with school children to spread awareness about Indian Navy. The rally is now heading back to Jamnagar touching Hyderabad and Pune enroute. As a part of the Platinum Jubilee Celebrations of INS Valsura…

APM Terminals Mumbai, India’s busiest container terminal, has embraced ‘Direct Port Delivery’ (DPD)service initiated by the Indian government as part of its “Ease of Doing Business Program” to enhance India’s access to the global logistics chain. The streamlined Direct Port Delivery protocol can result in substantial savings of time and money for importers by reducing container dwell times after vessel discharge. In the past, import containers were sent to Container Freight Stations (CFS) 1-1.5 days after arriving by vessel. Next, depending on the completion of import procedures and clearances with shipping lines, custom house agents, Customs, consignees and CFS operators, the cargo was then delivered to the end user after an average dwell time of 9- 10 days.

The cost of operating cargo ships has fallen for two successive years but is forecast to rise in 2017 and beyond, according to the latest Ship Operating Costs Annual Review and Forecast 2016/17 report published by global shipping consultancy Drewry. 2016 was another very difficult year for most shipowners and operators. Weak freight rates, declining asset values, eroded profitability and denuded cash balances have forced shipowners to reduce costs wherever possible, and vessel operating expenses have been no exception. Drewry’s assessment of 2016 operating costs across 44 different ship types and sizes shows that shipowners have trimmed costs in 2016 for the second successive year. The average decline in total ship operating costs among the vessel categories covered was 4.4%.

Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry. The global shipping fleet – encompassing all sectors except the non-cargo carrying ship types, such as tugs and passenger ships, and smaller coaster vessels, such as oil tankers and bulk carriers of less than 10,000 dwt – is expected to rise by a mere 300 vessels through 2016-2020. As a result, the shortage in officer supply is forecast to reduce from 20,900 at the end of 2015 to 7,700 by the end of 2020. The year 2015 proved to be a dreadful one for the entire shipping sector, with the exception of oil tankers.

A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected to have a contracted backlog of $145 million worth of projects. The move also could potentially safeguard more than 100 jobs across North America, Africa and Mexico.

Kolkata, 3rd Feb, 2016: Industry leaders, corporate heads, policy makers and senior executives took part in the very first road show which served as a run up to the Maritime India Summit’16. Maritime India Summit is being organized by the Ministry of Shipping at Bombay Convention and Exhibition Centre, in Mumbai. Hon’ble Prime Minister Shri Narendra Modi has kindly consented to inaugurate the Summit on 14 April 2016. This event will comprise of an Investors’ Summit and an Exhibition. The Investors’ Summit will be held on 14 - 15 April 2016 whereas the Exhibition and Demo Sessions have been planned for three days i.e. 14 - 16 April 2016.

The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address at the 9th Biennial International Conference on Ports, Shipping & Logistics organized by the Bombay Chamber of Commerce & Industry at the Taj Mahal Hotel, Mumbai, Nitin Gadkari, Union Ministry of Road Transport, Highways and Shipping, government of India assured his all out support to the head honchos of ship owning, ship manning, logistic companies, and other players of the Maritime Industry…

APM Terminals Pipavav one of Western India’s gateway ports, in association with Shri Bhagwan Mahavir Viklang Sahayata Samiti (BMVSS), Ahmedabad; SBI Mutual Fund and Shri Somnath Trust successfully organized a camp for the physically challenged individuals of Amreli of Rajula, Jaffrabad, Khamba, Savarkundla and Mahua villages. The camp was inaugurated by Mrs. Heenaben Shah, Director, APM Terminals Pipavav, Mr. P.K. Lehri, Director, APM Terminals Pipavav and  Mr. Lalitbhai Jain, Chairmen BVMSS. APM Terminals Pipavav employees volunteered to run a help desk at the camp site to guide the villagers and also helped the doctors and nurses throughout the program.

Gulf Navigation Holding PJSC (DFM: GULFNAV), the Dubai-based shipping company, has confirmed the appointment of Parag Jain as the company’s new Chief Executive Officer (CEO). The confirmation is a welcome move as Jain has been serving in the capacity of acting CEO since May of this year. With over 20 years of experience in the marine and maritime industry, Parag’s dynamic leadership and proficiency in the business is expected to help steer the company’s journey towards more growth and development.

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term, according to the Product Tanker Market Annual Report 2015 published by global shipping consultancy Drewry. The widespread switching of trade by product/chemical tankers (also called “swing” tankers) from chemicals to refined products has resulted in rapid growth in the product tanker fleet, which has expanded by 11.4 million dwt through 2012-14 (of which 8.2 million dwt is attributable to switching of tonnage).

For Institute of Marine Engineers of India having achieved standardisation and maintainenace of quality processes simultaneously not just at their Head Office but also their eight branches and Five Chapters, spread all over the country is unique in India, as it is run by a group of honorary volunteers who have dedicated themselves for the cause of their industry. Being an achievement worth celebrating, members of the Institute gathered on Saturday 22nd August 2015, at IME (I) House, Nerul, for the presentation ceremony of the ISO 9001:2008 Certificate. The Chief Guest for the evening was Deepak Shetty, Director General Shipping, and the Guests of Honour, Arun Kumar Gupta, CMD SCI and Shashi Nath Mishra – Head, IRQS.

ONGC was honored with the prestigious corporate award – ‘The Dun & Brandstreet Corporate Excellence Award’ for its stellar management and leadership on May 28,2014. ONGC received the award for excellence in the Oil and Gas Production sector. Mr A K Jain, Executive Director, Chief- Offshore Engineering Services, received the award on the behalf of the organization. In all, there were 46 sectors which were recognized for their excellence and these were chosen among the top 500 companies of India, by the primary yardstick of their contribution to India’s GDP. These 500 companies contribute to over 20 percent of the nation’s GDP and are the pillars of economic progress of the country.

WISTA India proved that they are committed to enhancing skiil of all women in the Maritime Industry . On 17th April they organised a workshop on "Manage your customers" at India's premier Business school SP Jain Institute of Management and Research. “ Managing Difficult Customers “ was such an eye opener on how we, while selling ,  focus only on  pushing down prices , not realizing that in doing so, we are  not adding any value to the client or to our business in the long run. Knowing the customer, going deep into his needs, “LISTENING” , understanding his product + supply chain , and THEN giving a customized solution is what we need to do. And Prof Murty illustrated this so beautifully and effortlessly.

The Indian government will not prevent an ailing Italian marine facing murder charges from returning home for medical treatment, Foreign Minister Sushma Swaraj said on Monday. Massimiliano Lattore is one of two Italian marines being held over the 2012 shooting of two fishermen mistakenly believed to be pirates, in a case that has soured relations between New Delhi and Rome. Lattore, 47, suffered a stroke in August. India's Supreme Court has instructed the government to respond to his plea for bail so that he can seek treatment. "We will not oppose the bail plea of the Italian marine. We will not do it on humanitarian grounds," Swaraj told reporters. Under international pressure, India had dropped a plan to prosecute the marines under a tough new anti-piracy law.

Global inspection, repair and maintenance (IRM), survey and light construction contractor Harkand has entered into a charter agreement with Hornbeck Offshore for the offshore construction vessel HOS Mystique for a firm period of two years plus options. The 250ft (76.2m) DP2 vessel has a 70 MT AHC crane and will be outfitted with a Harkand Triton XLS ROV to support IRM and survey work in water depths up to 3,000m in the Gulf of Mexico. AJ Jain, North America managing director for Harkand said…

On 23rd January 2015, the Royal Mumbai Yacht Club saw around a hundred dignified members of the shipping fraternity gather for the second WISTA Annual Forum, an event that lived up to the industry’s expectations. The select crowd included long-term supporters of WISTA India and WISTA members, as well as members who flew down from Delhi, Chennai, Cochin and Bengaluru especially for this conference. The program commenced with the traditional lighting of the lamp by key dignitaries – Hon Mr Deepak Shetty, the  DG of Shipping who was the chief guest of the evening, Mr Sanjay Bhaty, from Kandla Port trust, Mr.Umesh Grover, CEO of INSA and Ms Sanjam Sahi Gupta, the President of WISTA India and Board member of WISTA International.