Summary:
THE SHIPPING ministry has revised its guidelines for chartering of ships by providing Right of First Refusal (RoFR) to ships built in India. The conference is being coordinated by the Ministry of External Affairs, Ministry of Shipping and Ministry of Animal Husbandry, Dairy and Fisheries and National Maritime Foundation. The move, the ministry said in a statement on Monday, was aimed at encouraging ‘Make in India’ initiatives in the ship building industry. Under its Shipbuilding Financial Assistance Policy (2016-2026), the shipping ministry had earmarked Rs 30 crore (2018-19) for providing financial assistance to all Indian shipyards, excluding defence shipyards. An amount of Rs 11.89 crore has already been disbursed to three shipyards, the ministry said in a statement..