India bans oil tankers, bulkers older than 25 years to modernize fleet and cut emissions
India is ramping up efforts aimed at modernizing its fleet and is reviewing the requirements of the registration and operation of ships to ensure the quality of the Indian flag.
As a result, the country is withdrawing trading licenses to all tankers that are 25 years old or above, the country’s Directorate General of Shipping said.
Under the new order on age norms and vessel parameters, the directorate has also banned the acquisition of oil tankers that are 20 years old or older.
The same rule is applicable to bulk carriers and offshore fleets, except DP2 vessels. A ban on the acquisition of vessels of 20 years or older is also going to be applicable for specialized vessels, container vessels, cement carriers, gas/chemical tankers, harbor tugs, and dredgers.
The directorate said that the age norms will assist in ensuring the gradual phasing out of fossil fuel ships and ushering of alternate/low carbon energy efficient ships.
Under the order, existing vessels and foreign-flagged vessels already taken on charter will be allowed to operate for up to three years.
Potential failure to comply with the order would result in the withdrawal of the trading license, the directorate said.
India has declared that it plans to become energy independent by 2047 and a net zero country by 2070.
Green hydrogen is expected to play a critical role in that strategy as the country looks to tap into its vast renewable energy resources.