MoS for Ports and Shipping, Shantanu Thakur said India has plans to add 10 world-class shipyards in the next five years, supported by public-private partnerships and international collaborations. The Shipping Ministry has plans to develop new shipbuilding clusters of 1-1.2 million Gross Tonnage (GT) each.
SCI shares rose after US' strikes on Iran as the company’s exposure to crude oil transportation may lead to higher freight charges and improve earnings for shipping companies.
Shares of Shipping Corporation and GE Shipping were sharply higher after the news report, which could pave the way for measures to improve traffic at major ports, it is leant.
The Board of Directors of GE Shipping has appointed Keki Mistry as Additional and Independent Director for a tenure of 5 years with effect from August 9, 2023.
US Secretary of Defence Lloyd James Austin III, who arrived in New Delhi for a three-day visit to India earlier on Friday, met with National Security Advisor Ajit Doval.