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Around the SHIPPING WORLD in 1 minute as on 2nd October 2023

Around the SHIPPING WORLD in 1 minute as on 2nd October 2023

(1) India’s Largest Port at Vadhavan to Support Economic Corridor

India is actively working on enhancing its ports along the western coast for the India-Middle East-Europe Economic Corridor (IMEEC) development. The construction of the colossal Vadhavan port in Maharashtra, scheduled to begin this December, is a significant part of this initiative. This greenfield port, costing Rs 65,500 crore, will play a vital role in meeting the increased demand expected from IMEEC, ensuring India is well-prepared for the future.

(2) China’s Bold Entry into the Cruise Industry

The cruise industry faced a halt due to COVID-19, causing shifts in plans for major players like Royal Caribbean. Their ship, Wonder of the Seas, had to change its course from China to Florida. Meanwhile, China seized the opportunity, developing a 10-year plan to establish its foothold in the multi-billion dollar cruise industry. Now, as international cruises resume in China, they face a new competitor from within.

(3) Vizhinjam Port Prepares for First Cargo Ship Arrival

Vizhinjam International Seaport in Thiruvananthapuram is gearing up to welcome its inaugural cargo ship on October 15, according to Port Minister Ahammed Devarkovil. Originally, a ship from China was supposed to arrive on October 4 but faced delays due to climate-related issues. After covering 6,000 nautical miles through various ports, including Shanghai and Singapore, the vessel will now be rerouted to Vizhinjam. Developed in collaboration with the Adani Group, Vizhinjam port is poised to become one of the world’s largest ports upon its commissioning, expected in May 2024.

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