Shipping
Trilegal has advised businesses on a full spectrum of corporate shipping matters, including tax structures, M&A, joint ventures, complex finance and leasing deals, charter agreements, construction and development, insurance, financing pertaining to lending and security, and commissioning and decommissioning of vessels. We also advise clients on maritime litigation and arbitrations, and matters pertaining to civil/commercial/labour disputes in the industry.
India has a 7,500-km long coastline, 14,500 km of potentially navigable waterways and a strategic location on key international maritime trade routes. Around 95% of India’s trade by volume and 65% by value is done through maritime transport facilitated by ports.
The shipping industry in India is set for incremental growth, backed by government-led investments of USD 11.8 billion, as part of the National Maritime Development Programme (NMDP). Simultaneously, private sector investments in ports have risen steadily in the last five years, reaching an all-time high of USD 2.35 billion in 2020, as per the report by India Brand Equity Foundation. In order to keep up with developmental demands, Indian shipping laws and maritime regulations have undergone a significant overhaul with the enactment of multiple amendments in the admiralty, insolvency, arbitration, and tax areas. Some of the key recent regulatory developments include
- The Draft Indian Ports Bill 2021, which seeks to repeal and substitute the existing Indian Ports Act of 1908, governs the administration and obligations of ports in line with maritime treaties and international instruments to which India is a party.
- The Inland Vessels Bill 2021, that seeks to replace the Inland Vessels Act, 1917, by attempting to include a single legislation for the country to govern inland traffic. The bill also establishes a single online database for recording vessel and crew information.
- The Marine Aids to Navigation Act, 2021, repeals the Lighthouse Act, 1927, and seeks to provide a framework for the development, preservation, and supervision of aids to navigation in India.
- The Major Port Authorities Act, 2021, that aims to decentralise decision-making and reinforce excellence in major port governance.
At Trilegal, we have advised businesses on a full spectrum of corporate shipping transactions, including tax structures, M&A, joint ventures, complex finance and leasing deals, charter agreements, construction and development, insurance, financing pertaining to lending and security, and commissioning and decommissioning of vessels. Additionally, our integrated team of lawyers is adept at leveraging its extensive knowledge of the shipping/maritime laws for operating in Indian territorial waters, to represent businesses in maritime litigation and arbitrations, and matters pertaining to civil/commercial/labour disputes in the industry.
Some of our clients in this space include –
- ABG Ports
- PSA’s Bharat Mumbai Container Terminal
- Vizhinjam International Seaport
- Gangavaram Port
- IFC
