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For India’s shipping industry, a new rule promises to be a game-changer

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- Shipping ministry finalizing rules mandating international container lines operating in Indian seas to reserve at least 5% of their cargo space for domestic operators. - Vessel-sharing agreements among container lines operating in India must include a 5% reservation for the movement of domestic cargo ships, as per draft regulations issued by the Directorate General of Shipping. - The aim of the new rules is to boost business for Indian container lines on global routes and help domestic non-vessel operating common carriers (NVOCCs) find more space on international carrier lines for their clients' cargo. - State-owned Shipping Corp. of India (SCI) would be the biggest beneficiary of the new rules as it intends to acquire and hire eight large container ships in the coming months. - These proposed changes aim to promote fair competition, enhance transparency, and provide better representation for Indian shipping lines and NVOCCs in the global container trade.