Two major shipping companies, Cyprus-based Interorient Navigation Co Ltd and Danship & Partners Ltd, have revealed plans on Tuesday to inject Rs 10,000 crore into India's shipping industry, reported PTL

This will be the single biggest foreign direct investment (FDI) in Indian shipping since the sector was fully opened to overseas investment in 2005

As part of this investment, all ships acquired under the initiative will be registered under the Indian flag, effectively expanding India's shipping capacity.

According to the news agency, the freight income generated by moving India's export and import cargo will stay within the domestic economy, further supporting trade and employment.

Interorient, established in 1979, currently operates a fleet of over 100 vessels worldwide and is known as one of the most established names in international shipping.

Meanwhile, Danship & Partners provides maritime services including shipbroking, commercial management, and consultancy for clients across the global shipping industry.

Source: The Economic Times 

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