Shipping ministry reviews RoFR licensing conditions for chartering of vessels

The Ministry of Ports, Shipping and Waterways has reviewed the right of first refusal (RoFR) licensing conditions for chartering of vessels/ships through a tender process for all types of requirements. In order to promote the demand for ships built domestically, priority in chartering of vessels is given to vessels built in India, flagged in India and owned by Indians under the amendments in the guidelines of the RoFR. However, it has now been decided that for any kind of charter of a vessel undertaken through a tender process, the RoFR would be exerted in the following manner: Indian built, Indian flagged and Indian owned; foreign built, Indian flagged and Indian owned; and Indian built, foreign flagged and foreign owned. However, this would be subject to the fulfilment of certain conditions.