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Indian shipbuilding industry-I: Commercial shipbuilding going nowhere, for now
Jul 31: Despite all the promises, commercial shipbuilding never really took off in India
8As of today, there is no new commercial shipbuilding order by the country's largest ship owner, the Shipping Corporation of India
8Whenever a demand arises, to meet the challenging commercial charter rates prevailing in the market, ship owners are more focused on second-hand ships which are readily available at very competitive prices.
8In addition to the international depressed market conditions, the difficulty to raise the fund from banks for new acquisition and the imposition of GST on the income of ship owners have dampened the interest to increase the Indian fleet.
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