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COSCO Pulls Vessels From CMA CGM India-Europe Service as Suez Canal Routing Returns

The gradual return of container shipping through the Suez Canal is reshaping global trade networks, prompting carriers to optimize vessel deployment across key international routes. In the latest development, COSCO Shipping has withdrawn several vessels from CMA CGM’s India-Europe service, reflecting a broader industry effort to rebalance capacity as normal Suez Canal operations resume.
The decision marks another milestone in the post-Red Sea disruption recovery, with shipping lines moving away from the longer and more expensive Cape of Good Hope diversions that dominated container trade over the past year.

COSCO Adjusts India-Europe Network

COSCO Shipping has revised its participation in CMA CGM’s India-Europe service by reducing its vessel contribution following the restoration of Suez Canal transits.
Container shipping alliances routinely adjust vessel deployment based on market demand, cargo volumes, operational efficiency, and fleet optimization. As transit conditions improve, carriers are redesigning service rotations to improve profitability while maintaining schedule reliability.
The move demonstrates how major ocean carriers continue to fine-tune their global shipping networks in response to changing market conditions.

Return to the Suez Canal Improves Transit Times

The resumption of Suez Canal routing offers significant operational advantages for shipping lines serving the India-Europe corridor.
Compared with voyages around the Cape of Good Hope, the Suez route provides:
  • Shorter transit times between India and Europe
  • Lower fuel consumption and operating costs
  • Improved vessel utilization
  • Better schedule reliability
  • Reduced inventory lead times for exporters and importers
For Indian exporters, faster sailings can improve supply chain planning and help reduce logistics costs across European trade lanes.

Why Shipping Lines Are Reshuffling Capacity

The latest vessel adjustments are part of a wider industry trend as carriers adapt to changing shipping conditions.
Major container lines are evaluating:
  • Fleet deployment efficiency
  • Cargo demand across Asia-Europe routes
  • Port congestion levels
  • Freight rate trends
  • Equipment availability
  • Geopolitical developments affecting maritime trade
  • Alliance network optimization
These changes allow carriers to maximize asset utilization while maintaining competitive service offerings.

Impact on India-Europe Trade

India’s trade with Europe continues to grow across sectors including:
  • Engineering goods
  • Pharmaceuticals
  • Chemicals
  • Textiles
  • Automotive components
  • Consumer products
  • Machinery
A more stable Suez Canal route is expected to support exporters by providing more predictable shipping schedules and reducing transit uncertainty.
Although temporary vessel reallocations may result in minor schedule adjustments, industry experts expect service stability to improve as carriers complete their network realignment.

Industry Outlook

Container shipping companies are expected to continue monitoring
  • Security conditions around major maritime corridors
  • Global trade demand
  • Freight market performance
  • Vessel capacity utilization
  • Port operations
  • Supply chain resilience
Additional service changes may occur in the coming months as carriers optimize their networks for the evolving India-Europe trade environment.

Key Highlights

  • COSCO Shipping has withdrawn vessels from CMA CGM's India-Europe service.
  • The change follows the industry's gradual return to Suez Canal routing.
  • Shipping lines are reducing reliance on Cape of Good Hope diversions.
  • Shorter Suez voyages are expected to lower fuel costs and improve transit times.
  • Container carriers are optimizing fleet deployment and alliance services.
  • Container carriers are optimizing fleet deployment and alliance services.
  • Further network adjustments are expected as global shipping conditions stabilize.

FAQs

Why did COSCO remove vessels from CMA CGM's India-Europe service?
Why did COSCO remove vessels from CMA CGM’s India-Europe service?
The Suez Canal is the shortest maritime route between India and Europe, significantly reducing voyage distance, transit time, fuel consumption, and operating costs compared with sailing around the Cape of Good Hope.
Some temporary schedule changes may occur during the network transition. However, the return to the Suez Canal is expected to improve overall schedule reliability over time.
Faster transit times, lower logistics costs, improved schedule predictability, and more efficient supply chains can enhance India’s export competitiveness in European markets.
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China–India Trade Boom Drives Deployment of New Container Ships Across Key Shipping Routes

The China–India shipping corridor is witnessing a significant capacity expansion as global container shipping lines introduce new-generation container vessels to capitalize on rapidly growing trade volumes between Asia’s two largest economies.
Rising demand for manufactured goods, industrial equipment, raw materials, electronics, chemicals, and consumer products is driving stronger cargo movement between major Chinese and Indian ports. In response, carriers are strengthening their regional networks by deploying larger and more efficient container ships designed to improve schedule reliability, cargo capacity, and operational performance.
The move highlights the increasing strategic importance of the China–India maritime trade lane, which has emerged as one of the fastest-growing container shipping markets in Asia. Shipping companies are investing in modern fleets to accommodate higher cargo demand while improving fuel efficiency and reducing operating costs.
Industry experts believe the introduction of newbuild vessels will support faster cargo movement, enhanced port connectivity, and greater supply chain resilience for businesses engaged in bilateral trade.

Key Highlights

  • Newbuild container ships are being deployed on China–India trade routes.
  • Growing cargo volumes are driving demand for additional shipping capacity.
  • Trade growth is supported by increased movement of manufacturing and industrial goods
  • Modern vessels offer higher cargo capacity and improved fuel efficiency.
  • Shipping lines aim to enhance schedule reliability and service frequency.
  • China–India maritime trade continues to attract investment from global carriers.
  • Expanded fleet capacity is expected to strengthen regional supply chains.
  • Improved connectivity between Chinese and Indian ports could reduce transit bottlenecks.

Why Shipping Lines Are Expanding Capacity on China–India Routes

Several factors are contributing to the growing importance of the China–India container trade market:
Rising Bilateral Trade
Trade between China and India continues to generate strong containerized cargo volumes across sectors such as electronics, machinery, chemicals, textiles, automotive components, consumer goods, and industrial equipment.
Demand for Reliable Supply Chains
Importers and exporters are increasingly seeking dependable shipping services to support inventory management and production schedules. New vessels help carriers improve service consistency and reduce disruptions.
Operational Efficiency Gains
Modern container ships are equipped with advanced technologies that enhance fuel efficiency, lower emissions, and improve overall voyage performance, helping carriers remain competitive in a challenging market environment.
Strong Regional Growth Prospects
Asia remains the world’s largest manufacturing and trading hub, and the China–India corridor is expected to remain a major contributor to regional container shipping growth over the coming years.

Impact on Indian Ports and Logistics Sector

The deployment of additional container capacity could benefit India’s logistics ecosystem by:
  • Increasing container availability for exporters and importers.
  • Supporting higher throughput at major container ports.
  • Enhancing connectivity with manufacturing hubs in China.
  • Improving cargo movement efficiency across supply chains.
  • Strengthening India's position in regional maritime trade networks.
As shipping lines continue investing in larger and more technologically advanced fleets, the China–India trade corridor is expected to play an increasingly important role in shaping Asia’s maritime logistics landscape.

FAQs

Why are shipping companies deploying new container ships on China–India routes?
Shipping companies are adding new vessels to meet rising cargo demand, improve service reliability, and increase capacity on one of Asia’s fastest-growing trade corridors.
Common cargo includes electronics, machinery, industrial equipment, chemicals, textiles, consumer goods, automotive parts, and raw materials.
Newbuild vessels offer greater cargo capacity, improved fuel efficiency, lower operating costs, and enhanced environmental performance.
Additional shipping capacity can improve cargo availability, strengthen supply chains, support port growth, and enhance trade connectivity with China.
Industry analysts expect continued growth in container volumes, supported by expanding trade activity, supply chain diversification, and ongoing investment in shipping infrastructure.
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The Mumbai Port Authority Expands Infrastructure with ₹5,028 Crore Development Plan

The Mumbai Port Authority (MbPA) has announced an ambitious infrastructure development programme with an investment of ₹5,028.17 crore across 63 projects. The initiative is aimed at modernising port facilities, improving operational efficiency, and strengthening Mumbai Port’s position as a key gateway for India’s maritime trade.
The large-scale investment is expected to enhance cargo handling capacity, improve logistics performance, and support the growing demands of domestic and international trade.

Infrastructure Upgrades to Improve Port Efficiency

The development programme includes a wide range of projects focused on:
  • Modernising port infrastructure
  • Expanding cargo handling capacity
  • Improving operational efficiency
  • Upgrading port facilities with advanced technologies
  • Strengthening maritime logistics and connectivity
These initiatives are designed to streamline port operations, reduce turnaround times, and improve overall service quality.

Supporting India's Maritime Growth Strategy

The ₹5,028 crore investment aligns with India’s broader maritime infrastructure development goals and supports efforts to build world-class ports under the country’s long-term logistics and trade strategy.
By enhancing capacity and adopting technology-driven solutions, Mumbai Port aims to improve competitiveness, facilitate higher cargo volumes, and contribute to the growth of India’s blue economy.

Key Highlights:

  • Mumbai Port Authority plans to invest ₹5,028.17 crore in port modernisation.
  • A total of 63 infrastructure development projects are planned.
  • The projects will improve cargo handling capacity and operational efficiency.
  • Investments include modern port infrastructure and technology-driven upgrades.
  • The initiative aims to strengthen Mumbai Port's competitiveness in global maritime trade.
  • The programme supports faster cargo movement and improved logistics performance.
  • The investment aligns with India's maritime infrastructure and port development strategy.
  • Modernisation efforts are expected to support long-term domestic and international trade growth.
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India and Mauritius Expand Container Terminal Capacity to Strengthen Maritime Trade

India and Mauritius have partnered to expand container terminal capacity as part of a broader effort to strengthen maritime cooperation and improve regional trade connectivity. The collaboration focuses on developing modern port infrastructure, enhancing cargo handling capabilities, and creating more efficient logistics links between the two countries and global shipping markets.
The initiative is expected to reinforce supply chain resilience while supporting growing trade volumes across the Indian Ocean region.

Port Infrastructure Expansion to Boost Trade

The planned container terminal expansion will improve operational efficiency by increasing cargo handling capacity, accommodating higher vessel traffic, and enabling faster movement of goods.
The project is expected to:
  • Enhance port infrastructure and operational efficiency.
  • Increase container handling capacity.
  • Improve vessel turnaround time.
  • Strengthen regional and international shipping connectivity.
  • Support seamless cargo movement across key trade routes.

Strengthening Regional Logistics and Supply Chains

As global shipping networks continue to evolve, India and Mauritius are investing in modern maritime infrastructure to improve logistics efficiency and build resilient supply chains.
The partnership is expected to strengthen India’s maritime presence in the Indian Ocean while creating new opportunities for regional trade, investment, and economic cooperation.

Supporting Long-Term Maritime Growth

The container terminal expansion reflects the shared commitment of India and Mauritius to developing world-class port infrastructure that supports sustainable trade growth. Improved port capabilities will help facilitate international commerce, enhance logistics performance, and contribute to long-term economic development.

Key Highlights:

  • India and Mauritius are collaborating to expand container terminal capacity.
  • The partnership aims to strengthen maritime cooperation and regional trade connectivity.
  • The project will enhance port infrastructure and cargo handling capabilities.
  • Increased container capacity will support growing international trade volumes.
  • The initiative is expected to improve vessel handling and reduce cargo transit time.
  • Stronger logistics links will enhance supply chain resilience across the Indian Ocean region.
  • The collaboration supports efficient maritime trade between India, Mauritius, and global markets.
  • The project reinforces long-term investment in modern port infrastructure and economic growth.
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Textile ExportIndiaExpands Textile Export Ambitions with US$100 Billion Goal by 2030Textile Export

India’s textile sector is aiming to achieve US$100 billion in exports by 2030, supported by sustainable manufacturing, improved production capabilities, and expanding global market access through new Free Trade Agreements (FTAs). The ambitious export target reflects India’s strategy to strengthen its position as a leading global supplier of textiles and apparel.

The industry is focusing on increasing value-added exports while meeting the growing global demand for high-quality and sustainably produced textile products.

Sustainable Manufacturing to Drive Export Growth

Sustainability has become a key priority for India’s textile industry as international buyers increasingly prefer environmentally responsible suppliers.
Manufacturers are adopting:
  • Energy-efficient production processes
  • Sustainable raw materials
  • Waste reduction initiatives
  • Cleaner manufacturing technologies
These efforts are expected to improve India’s competitiveness in global markets while aligning with international environmental standards.

FTAs to Expand Global Market Access

New Free Trade Agreements (FTAs) are expected to create fresh export opportunities for Indian textile manufacturers by improving access to key international markets.
The government and industry are working together to enhance export competitiveness through:
  • Better trade access
  • Infrastructure development
  • Technology adoption
  • Workforce skill enhancement
  • Supply chain modernization
These initiatives will help Indian exporters strengthen their presence across global textile and apparel markets.

India Strengthens Its Global Textile Leadership

The textile sector remains one of India’s largest manufacturing industries and a significant contributor to exports and employment.
With increasing investments in innovation, sustainability, and value-added manufacturing, India is well-positioned to expand its global market share and achieve its US$100 billion textile export target by 2030.

Key Highlights:

  • India aims to achieve US$100 billion in textile exports by 2030.
  • The strategy focuses on expanding India's global textile and apparel market share.
  • Sustainable manufacturing has become a key driver of export growth.
  • Industry is adopting energy-efficient production, sustainable materials, and waste reduction practices.
  • New Free Trade Agreements (FTAs) are expected to improve global market access.
  • Government and industry are investing in technology, infrastructure, and workforce skills.
  • Greater emphasis is being placed on value-added textile exports.
  • The sector aims to meet rising global demand for sustainably produced textiles.
  • India's textile industry is strengthening its position as a leading global manufacturing and export hub.
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India-Latin America Economic Relations Strengthen as Trade Targets US$100 Billion by 2030

Trade between India and Latin America is expected to double from US$50 billion to US$100 billion by 2030, reflecting the strengthening economic partnership between the two regions. The projection was highlighted during the LAC FIRST: India-Latin America & Caribbean Business & Diplomatic Conference, underscoring the growing opportunities for trade, investment, and business collaboration.
According to Uruguay’s Ambassador to India and GRULAC Coordinator, Alberto Antonio Guani Amarilla, Latin America will continue to be a strategic economic partner as India advances toward its vision of becoming a developed economy. He emphasized that expanding cooperation across key sectors can unlock significant growth opportunities for businesses in both regions.

India and Latin America Strengthen Economic Cooperation

The Ambassador noted that Latin America has become an increasingly important trade partner for India. Growing economic complementarities between the two regions are expected to boost bilateral trade, improve market access, and encourage greater investment flows.
India’s decision to open an Embassy in Uruguay next month is expected to further strengthen diplomatic and commercial relations while creating new opportunities for businesses and investors.

Expansion of India-Mercosur Trade Agreement Proposed

To enhance bilateral trade, the Ambassador called for expanding the India-Mercosur Preferential Trade Agreement (PTA).
Currently covering around 450 products, the agreement could be broadened to include nearly 3,000 products, paving the way for deeper trade integration and potential future free trade agreements between India and the Mercosur bloc.

Key Sectors Driving Trade Growth

Several industries are expected to play a major role in achieving the US$100 billion trade target by 2030.
Key growth sectors include:
  • Minerals
  • Agro-industries
  • Pharmaceuticals
  • Renewable energy
  • Advanced manufacturing
  • Emerging technologies
These sectors are expected to support stronger supply chains, increased investments, and long-term economic collaboration.

Key Highlights:

  • India-Latin America trade is projected to reach US$100 billion by 2030.
  • Current bilateral trade stands at approximately US$50 billion.
  • The announcement was made at the LAC FIRST: India-Latin America & Caribbean Business & Diplomatic Conference.
  • Latin America is expected to remain a key economic partner for India's long-term growth.
  • India will open a new Embassy in Uruguay, strengthening bilateral relations.
  • Proposal to expand the India-Mercosur Preferential Trade Agreement from 450 products to 3,000 products
  • Major growth sectors include minerals, agro-industries, pharmaceuticals, renewable energy, and advanced manufacturing.
  • Stronger trade ties are expected to improve market access, investment flows, supply chain resilience, and economic cooperation.
  • The partnership supports India's ambition to expand its global trade footprint and strengthen international economic engagement.
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India’s Logistics Sector Set for Drone Revolution as Market Reaches US$428 Billion

India’s logistics industry is poised for a major transformation as drone deployment is expected to increase by 55% over the next three years, according to a new survey by Nexgen Exhibitions. The rapid adoption of drone technology is expected to improve supply chain efficiency, support sustainable logistics, and enhance last-mile delivery across multiple industries.

The survey comes as India’s logistics market is projected to grow from US$228 billion in 2024 to US$428.7 billion by 2033, highlighting the sector’s strong long-term growth potential.

Drones Driving Smarter and Sustainable Supply Chains

The survey, conducted among 1,000 professionals across major business hubs including Mumbai and Delhi, indicates that drones are rapidly expanding beyond defence applications to become an integral part of commercial logistics operations.
According to the findings:
  • 38% of respondents identified security and logistics as the primary drivers of drone adoption.
  • 27% cited the growing demand for faster, sustainable, and eco-friendly delivery services.
The increasing use of drones is expected to improve operational efficiency, reduce delivery times, lower transportation costs, and support greener supply chain practices.

Drone Expo to Showcase Industry Innovation

The findings were released ahead of the 7th Drone International Expo, scheduled for June 24–25, 2026, at Bharat Mandapam, New Delhi.
The event will bring together more than 200 global companies, showcasing the latest advancements in drone technology, unmanned aerial systems, logistics solutions, and clean-tech innovations.

Key Highlights:

  • Drone deployment in India's logistics and clean-tech sectors is projected to increase by 55% over the next three years.
  • India's logistics market is expected to grow from US$228 billion (2024) to US$428.7 billion by 2033.
  • The survey covered 1,000 professionals across Mumbai and Delhi.
  • 38% of respondents identified security and logistics as the key drivers of drone adoption.
  • 27% cited rising demand for faster and eco-friendly deliveries.
  • Drones are becoming a key technology for smart logistics, supply chain optimization, and last-mile delivery.
  • The 7th Drone International Expo 2026 will feature 200+ global companies showcasing the latest drone innovations.
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Strong Services Exports Boost India’s Trade Growth by 5.4% in Q4 FY26

India’s overall trade expanded 5.4% to US$1.84 trillion during the fourth quarter of FY26, according to NITI Aayog’s latest Trade Watch Quarterly report. Although merchandise exports declined, strong growth in services exports helped strengthen India’s external trade performance and improve the country’s trade balance.
Services exports increased 9% year-on-year to US$111 billion, while services imports rose 4.1% to US$50.7 billion. As a result, India’s services trade surplus widened to US$60.4 billion, offsetting the merchandise trade deficit. The report identifies services exports as a key pillar of India’s external sector stability.
India also maintained its position as the world’s eighth-largest services exporter in 2025. Over the past decade, services exports nearly tripled from US$156 billion to US$416 billion, registering a 10.3% CAGR, significantly above the global average of 6.6%. The country further strengthened its leadership in telecom and IT services, increasing its global market share from 9.5% in 2015 to 14.9% in 2025.
The report highlights that India’s export markets are becoming more diversified, with Europe’s share of services exports rising while dependence on North America has gradually declined. India’s pharmaceutical sector also continued its strong performance, with exports reaching US$25.8 billion in 2025 and formulated drugs accounting for US$22 billion.
Overall, the findings demonstrate the growing resilience of India’s export ecosystem, with services, technology, and pharmaceuticals emerging as major drivers of long-term trade growth and global competitiveness.

Key Highlights:

  • India's overall trade grew 5.4% to US$1.84 trillion i n Q4 FY26.
  • Services exports increased 9% to US$111 billion.
  • Services trade surplus widened to US$60.4 billion.
  • Merchandise exports declined 2.8%, while imports rose 12%.
  • India remained the world's eighth-largest services exporter in 2025.
  • Services exports nearly tripled from US$156 billion (2015) to US$416 billion (2025).
  • India's services export CAGR reached 10.3%, outperforming the global average of 6.6%.
  • Telecom and IT services global market share increased to 14.9%.
  • Pharmaceutical exports reached US$25.8 billion, led by formulated drugs.
  • Services continue to strengthen India's export resilience and global trade competitiveness.
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Dedicated Fly Ash Rail Network to Strengthen Indian Railways Cargo Business

Indian Railways is set to establish a dedicated rail-based logistics network for fly ash transportation, creating a significant opportunity to expand freight business while supporting key industries such as cement, construction, road development, infrastructure, mining, and real estate.
The initiative aims to shift large-scale fly ash transportation from road to rail, improving logistics efficiency, reducing transportation costs, and strengthening India’s bulk cargo supply chain.

Green Logistics Initiative to Improve Supply Chain Efficiency

India generates nearly 340 million tonnes of fly ash annually from thermal power plants. Although much of it is utilized by cement manufacturers, brick makers, and infrastructure projects, a considerable volume remains underutilized due to high transportation costs and logistical challenges.
To address these issues, Indian Railways plans to introduce a green logistics programme featuring specialized containers and dedicated rail corridors connecting fly ash generation centres with major industrial consumption hubs. The network is expected to ensure faster, safer, and more reliable transportation while easing pressure on road infrastructure.

Supporting Sustainability and the Circular Economy

The proposed rail-based transport system will contribute to India’s environmental goals by reducing road freight movement and lowering carbon emissions. Greater utilization of fly ash will also promote the circular economy, reducing landfill disposal while supplying a cost-effective raw material for cement, construction, and infrastructure projects.
The initiative supports sustainable industrial growth by encouraging the recycling and productive use of industrial by-products.

New Freight Opportunity for Indian Railways

The dedicated fly ash transport network is expected to become a major source of additional freight revenue for Indian Railways. As freight transportation remains a key contributor to railway earnings, the initiative aligns with the Railways’ strategy of attracting bulk industrial cargo currently transported by road.
Industry experts believe the programme’s success will depend on modern loading facilities at thermal power plants, efficient handling infrastructure at destination points, and competitive freight pricing. If implemented effectively, the network could create an integrated logistics ecosystem benefiting power producers, industrial consumers, and the railway sector.
With India’s infrastructure and construction activities continuing to expand, demand for fly ash is expected to grow steadily, making dedicated rail transportation an increasingly important component of the country’s industrial supply chain.

Key Highlights:

  • Indian Railways plans a dedicated fly ash transport network to expand freight operations.
  • India produces nearly 340 million tonnes of fly ash annually.
  • The initiative supports the cement, construction, infrastructure, mining, road development, and real estate sectors.
  • Specialized containers and dedicated rail corridors will improve bulk cargo movement.
  • Rail transportation will reduce logistics costs, transit time, and dependence on road transport.
  • The programme supports green logistics by lowering carbon emissions.
  • Increased fly ash utilization promotes the circular economy and reduces industrial waste.
  • The project is expected to generate significant freight revenue for Indian Railways.
  • Improved logistics infrastructure will strengthen India's industrial supply chain.
  • Rising infrastructure development is expected to increase long-term demand for fly ash transportation by rail.
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Maritime India Vision 2030 Milestone Achieved as India Becomes Top Ship Recycling Nation

India has become the world’s largest ship recycling nation in 2025, achieving a major milestone under the Maritime India Vision (MIV) 2030 five years ahead of schedule, according to the latest UNCTAD report. The achievement highlights India’s growing leadership in sustainable maritime services and reinforces its position as a global hub for environmentally responsible ship recycling.
India’s share of the global ship recycling market increased from 30.1% in 2024 to 35.4% in 2025, while ship recycling volumes surged nearly 60%, rising from 1.86 million gross tons (GT) to 2.99 million GT.

Government Reforms Drive Industry Growth

The rapid growth of India’s ship recycling industry has been supported by key policy reforms, including the Recycling of Ships Act, 2019, which aligns the country’s regulatory framework with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC).
To modernize the sector, the government has provided Rs. 53.50 crore (US$6.05 million) in financial assistance, enabling 115 ship recycling yards to become HKC-compliant and meet international environmental and safety standards.

Incentives Boost Ship Recycling and Domestic Shipbuilding

The Government has also introduced the Ship-breaking Credit Note Scheme, under which ship owners receive a credit note equal to 40% of a recycled vessel’s scrap value. The credit can be used to pay up to 5% of the cost of a new vessel built at an Indian shipyard, encouraging both sustainable ship recycling and domestic shipbuilding.

India Expands Capacity to Meet Future Global Demand

India plans to nearly double its ship recycling capacity to approximately 9 million light displacement tons (LDT) through the expansion of the Alang Ship Recycling Yard in Gujarat.
According to industry estimates, more than 16,000 ships are expected to be recycled worldwide over the next decade. With its current market leadership, India is well-positioned to recycle 500–600 vessels annually, further strengthening its role in the global maritime industry.

Key Highlights:

  • India became the world's largest ship recycling nation in 2025.
  • The country achieved its Maritime India Vision 2030 target five years ahead of schedule.
  • India's global ship recycling market share increased from 30.1% to 35.4%.
  • Ship recycling volume grew nearly 60%, reaching 2.99 million gross tons (GT).
  • The Recycling of Ships Act, 2019 aligns India with international HKC standards.
  • The government provided Rs. 53.50 crore to modernize 115 HKC-compliant ship recycling yards.
  • The Ship-breaking Credit Note Scheme supports both ship recycling and domestic shipbuilding.
  • India plans to expand ship recycling capacity to 9 million LDT through the Alang Ship Recycling Yard.
  • More than 16,000 vessels are expected to be recycled globally over the next decade.
  • India could recycle 500–600 ships annually, strengthening its position as a global maritime and ship recycling hub.
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