Indian shipowners are considering moving vessels from the domestic register as cabotage benefits dwindle.
The government has eased restrictions on overseas lines carrying containers for transhipment, while it plans to remove the right of first refusal (RoFR) for Indian companies that ensures a supply of local oil and bulk cargoes.
Anjali Kumar, general manager of corporate finance and investor relations at Great Eastern Shipping, told the Live Mint website that RoFR is not negative for either the charterer or the consumer, while offering a level of protection to local shippers.
