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India – Central Government Exempts Vessel Sharing Agreements In The Shipping Industry.

27 January, 2014

 

Legal News & Analysis – Asia Pacific – India – Shipping Maritime & Aviation

 

On December 11, 2013, the Government of India, under Section 54(a) of the Act, exempted vessel sharing agreements (‘VSAs’) of the liner shipping industry from the provisions of Section 3 of the Act for a period of one year. VSAs are a common practice in the shipping industry and the above exemption is applicable to carriers of all nationalities operating ships from any port in India.


Further, during the period of exemption, the VSAs will be monitored by the Director General Shipping, Ministry of Shipping (‘DG Shipping’). All VSAs, existing as well as those sought to be entered into are required to be filed with DG Shipping within the prescribed time limit for this purpose.

 

 

AZB

 

For further information, please contact:

 

Zia Mody, AZB & Partners
[email protected]

 

Abhijit Joshi, AZB & Partners 
[email protected]


Shuva Mandal, AZB & Partners 
[email protected]

 

Samir Gandhi, AZB & Partners
[email protected]


Percy Billimoria, AZB & Partners 
[email protected]

 

Aditya Bhat, AZB & Partners 
[email protected]

 
Shipping Maritime & Aviation Law Firms in India

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