Wednesday, March 1, 2023

The government revokes the trading permits for cargo and oil tankers older than 25 year

Govt withdraws trading licences of oil tankers, cargo vessels of over 25 years of age

 Delhi, India: According to an order issued by the Directorate General of Shipping (DGS), the government has revoked the trading licenses of oil tankers, bulk carriers, and general cargo vessels that have been in operation for more than 25 years.

According to the order, the move aims to meet global emissions regulations, encourage a younger fleet, and increase life at sea safety.

The DGS stated in an order that no prior technical clearance is required for the acquisition of vessels younger than 25 years old, and that such clearance would be required for vessels older than 25 years old.

The Directorate General of Shipping, Mumbai, stated in the order on age norms and other qualitative parameters with regard to vessels, "...there is a need to modernize the Indian fleet, which requires extensive review of the requirements of the registration and operation of the ships, to ensure quality tonnage under the Indian flag."

In addition, the order stated that while the average age of the world's fleet is decreasing, the average age of the world's tonnage is rising over time.

In addition, the shipping regulator stated that in order to guarantee high-quality tonnage under the Indian flag, the Indian fleet must be modernized, which necessitates an extensive review of the registration and operation requirements.

In addition, it stated that vessels will lose their general trading license (GTL) if the conditions are not met.

It stated, "Foreign flagged vessels....already engaged in charter on the day of this order, shall also be permitted to operate up to three years from the date of the issue of this order or until the charter period, whichever is earlier."

Catch Daily Highlights In Your Email

* indicates required

Post Top Ad