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Guidelines for grant of licence/permission under section 406 & 407 of the MS Act, 1958 - Exercise of right of first refusal (ROFR)-reg.
Applicable to:
All Indian shipping companies, charterers/shippers, and exporters/importers
Effective Date:
Immediate
Superseded Circulars:
SD Circular No. 6 of 2010
Key Changes and Requirements
1. New Right of First Refusal Order — Exercise of ROFR
The order of exercising Right of First Refusal (ROFR) has been changed to prioritize Indian-built Indian flag vessels.
- Order of Priority:
- Indian Built Indian Flag Vessels
- Indian Flag Vessels
- Indian built foreign flag vessels
- Indian citizens/companies with bareboat charter & demise (BBCD) vessels
Note: All companies, charterers, and agents must update their chartering terms and practices accordingly.
Important Note
This circular supersedes earlier circulars issued by this office, mutatis-mutandis.
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