#Fleets

India Moves to Accelerate Expanding Shipping Capacity by Adding 62 Vessels

India's Minister of Ports, Shipping, and Waterways announced plans to add 62 new vessels to the domestic maritime fleet in FY 2026-2027, backed by US$5.4 billion investment and targeting 2.85 million gross tons. The initiative includes container vessels, LPG carriers, crude oil tankers, and green tugs. Prime Minister Modi aims for 20 percent of exports on Indian-flagged vessels and transshipping growth from 20 percent to 75 percent by 2030.