It is a fact that LNG, or Liquefied Natural Gas, as a segment has been generally avoided by Indian shippers. The Indian shipping sector is still far behind its global counterparts when it comes to shipping operations. Phillip M, managing director of Exclusive Shipping, a Mangalore based small-sized shipping and logistics service provider, said, “With the global shipping market dipping amidst extremely volatile freight rates and markets, shipping has been hard hit. In India, when a reckoning name like Shipping Corporation of India (SCI) is facing tough time keeping afloat their fleet, the scene becomes self explanatory.”
Apprehensions
However, some Indian shippers have overcome their apprehensions and are now pursuing a higher ambition of getting into the LNG segment. The industry has even requested for a new LNG Transportation Policy. According to V Radha Krishnan Iyer, executive at ARR Maritime and Allied Services Pvt Ltd, a Vishakhapatnam based small-sized shipping and logistics service provider, “The time is not ripe for the shipping sector to get into LNG at a time when the global shipping fraternity is suffering a major setback.”
In a bid to kick-start LNG operations, Indian shipping companies have presented a formal request to the government to review the present shipping policy for LNG import. These shipping lines are looking at new contracts to be drawn up, which will place the responsibility of cargo shipment on the buyers. This way, LNG importers would be able to hire Indian flag vessels.
However, many feel that the LNG prospect is a long term as well as a lucrative one, which the shipping sector should think of getting into soon.
Priyanka Roy Chowdhury |
In a 
