India Imposes age restrictions on vessels acquired and operated in the country in an attempt to cut emissions.
No more than 25 years
As the world’s largest greenhouse gas emitter India announced the withdrawal of trading licenses for oil tankers and bulk carriers that are more than 25 years old. Indian Shipping regulator reports that their aim is to cut GHG emissions. By reducing the average age of vessels in its fleet. In addition, the age restrictions regulation mentions vessels that are less than 25 years are allowed without any clearance procedure.
“There is a need to modernize the Indian fleet, which requires extensive review of the requirements of the registration and operation of the ships,”. The Directorate General Of Shipping said in the statement uploaded on its website late on Monday.
“Age norms will assist in ensuring gradual phasing out of fossil fuel ships and ushering in of alternate/low carbon energy efficient ships,”. The order said.
Improving vessels
The Indian fleet has been aging in recent years, bucking a global declining trend. The regulation also requires oil takers aged above 15 years to improve working conditions and subject them to additional checking. If a vessel does not comply with these rules, it would lead to the cancellation of the trading license. India aims to adhere to high international standards for vessels.
Foreign vessels
The new rules also apply to foreign vessels operating in India. However, currently operating vessels that are affected by the new rules will be allowed to operate for an additional 3 years without any age restrictions. India has a low manufacturing cost but the local tax rules deter investment in India’s shipping industry. The country owns 35 shipping companies and is planning on lowering taxes to bolster its shipbuilding industry.
The age restrictions will also help to reduce marine accidents that frequently occur in the country. Last year an old foreign vessel sank and the Indian coastguard rescued its crew members.
