Maritime agency issues warning to retire ‘old’ ships

• Over 700 Indian-flagged vessels, mainly in coastal and near-shore routes, are expected to retire prematurely due to age-based restrictions imposed by DG Shipping.

• IMF officials argue this would leave over 20,000 seafarers jobless and impact over one lakh people’s livelihood.

• DG Shipping’s Order 6/2023, which bans 20-year-old ships, is viewed as existential threats to India’s maritime ecosystem.

• IMF’s global dataset and inspections show older vessels often have better safety records due to rigorous maintenance practices and survivorship bias.