As the Indian flagged tonnage is just 0.8% of the global fleet, opening a domestic Protection & Indemnity Club sounds unrealistic. So the Ministry of Ports, Shipping & Waterways is refining the plan to focus on coastal shipping. Providing a fixed premium and low cost options for coastal operators can bring down their cost of operations. The government is also focusing on establishing green coastal corridors for gradual transition to green shipping and ports.
With India owning less than 1 percent of the global tonnage, an Indian P&I Club would need support from international markets, both from a ship owners perspective and reinsurers point of view.
