The Indian government is hatching plans to establish a new dedicated container shipping line, Bharat Container Line.
About 100 container ships will either be procured or chartered for the new liner operator, according to Indian reports citing Sarbananda Sonowal, India’s minister of ports, shipping and waterways.
Public and private organisations will provide equity for the venture, which aligns with a $3bn maritime development fund budgeted for by the Indian government, The Economic Times of India suggests.
The proposed development has been welcomed by Indian shippers who have suffered in recent years from high container freight and capacity shortages.
Glottis Limited, a Chennai-based freight forwarding company, said: “India’s plan for Bharat Container Line signals a major shift in its maritime strategy, reducing dependency on foreign carriers while investing in a stronger, self-reliant shipping infrastructure.
“With government backing and private sector participation, this initiative could significantly boost India’s trade efficiency and competitiveness in the global shipping industry.”
The new company is expected to reduce the country’s dependence on foreign-flagged carriers and give India greater control over liner shipping routes.
The country’s largest international player, the Shipping Corp of India (SCI), operates just four container ships.
Only two container ships are owned by SCI, which has historically bought slots on services operated by leading player MSC Mediterranean Shipping Company.
But India is receiving growing interest from international container operators willing to invest in the country’s container infrastructure.
Last month, South Korean liner operator HMM unveiled a plan to develop and operate an ambitious container port project on the west coast of India.
The carrier will help develop the Vadhvan port, which the Indian government hopes will become one of the world’s top-10 container ports by 2040.
The new port will handle 23m teu annually and be deep enough to handle HMM’s 24,000-teu vessels.(Copyright)
