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Shipping ministry rolls out a new web application format for shipyards seeking assistance from Govt

 The Shipping Ministry has rolled out an updated version of the web application for Ship Yards seeking assistance under the ship building financial assistance policy for domestic ship yards finalized in 2015. A sum of Rs Four Thousand Crores of financial assistance has been earmarked for shipyards under this scheme for a period of ten years for contracts secured between April 2016 and March 31, 2026.

 The Shipyards Association of India had raised certain issues with regard to the previous web applications which was launched in June last year for processing applications for the financial assistance.

 The Shipping Ministry held a series of consultations with the stakeholders and based on the discussions has rolled out an updated version of the web application along with an amended set of guidelines for applying under the policy.

 Under the amended guidelines, ,increased number of days are now available with the shipyards to apply under the policy as well as to obtain and submit valuation reports. The updated web application also generates a wider choice of International Valuers, with whom the valuation of a vessel can be carried out. The updated version of the web application will be administered and monitored by the Directorate General of Shipping.

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