Q. Consider the following statements regarding the Merchant Shipping Bill 2024:
1.It allows Overseas Citizens of India (OCIs), Non-Resident Indians (NRIs), and Limited Liability Partnerships (LLPs) to own and register Indian-flagged vessels.
2.It restricts bareboat charter-cum-demise (BBCD) contracts to Indian companies only.
3.It introduces mandatory insurance requirements for oil pollution damage.
4.It integrates coastal shipping with inland waterways to create a seamless multimodal transport network.
How many of the statements given above are correct?
Answer: B
Notes:
Explanations –
Statements 1 and 3 are correct. The Merchant Shipping Bill, 2024, expands eligibility for ship ownership to include OCIs, NRIs, and LLPs, as well as foreign entities with majority Indian ownership. The Bill mandates insurance requirements for oil pollution damage as part of its focus on environmental sustainability.
Statements 2 and 4 are incorrect. The Bill allows vessels acquired through BBCD contracts to be registered under the Indian flag even before ownership is fully transferred, encouraging broader participation, including foreign entities with majority Indian ownership. Coastal shipping is included in the Coastal Shipping Bill, 2024, not the Merchant Shipping Bill.
Source: The Hindu
