On August 9, 2024, the Minister of Ports, Shipping and Waterways introduced two significant bills in the Lok Sabha – the Carriage of Goods by Sea Bill, 2024, and the Bills of Lading Bill, 2024. These bills are aimed at aligning Indian regulations with international standards and easing operations.
The Carriage of Goods by Sea Bill, 2024, seeks to comply with the international convention and with the changing global scenario in the shipping industry. Additionally, it seeks to provide responsibilities, liabilities, rights and immunities attached to carriers with respect to the carriage of goods by sea and for matters connected therewith or related thereto.
The Bills of Lading Bill, 2024 seeks to make provisions for the transfer of rights of suit and all liabilities to the consignee named in a bill of lading and every endorsee of a bill of lading, to whom the property in the goods mentioned in the bill of lading shall pass.