National News

Merchant Shipping Bill, 2024

December 14 , 2024 13 hrs 0 min 49 0

The Merchant Shipping Bill of 2024 seeks to repeal the Merchant Shipping Act of 1958.
This bill redefines and simplify ownership criteria for merchant vessels in the country.
Currently, only Indian citizens or companies can register ships under the Indian flag.
It is making it easier for Indian-flagged vessels to operate, and also streamline a variety of regulations that deal with marine casualties.
It has been proposed to expand the eligibility criteria for ownership of the vessels and increasing tonnage under the Indian flag.
The Bill also makes provision for temporary registration of vessels seeking to be recycled in India.
It provides for the constitution of a limitation fund for certain claims and aims to streamline administrative processes with electronic registration and digital records.