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16 Aug 2017
Government's rule creates flag state jeopardy while swithcing registrations
Credit : TSO Bureau

"Owners run risk of losing contracts if they switch ships from domestic register. Shipowners run the risk of losing lucrative contracts from Indian state-owned companies if they move ships from the domestic register before the end of the term. State firms have been given the power to tear up deals awarded to operators of tonnage flagged in India if the vessels are re-registered, the maritime administration said, according to the Hindu Business Line. In public tenders, domestic ships have the right of first refusal (RoFR) to match the lowest rate quoted by overseas"
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