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Notification from Ministry - Promotion of make in India initiative - RoFR for Indian built and Indian flagged ships - reg.
Applicable to:
Indian shipping companies, charterers, and shipowners
Effective Date:
2020-10-22
Superseded Circulars:
This order supersedes earlier guidelines and circulars on the subject matter.
Key Changes and Requirements
1. Right of First Refusal (RoFR) for Indian-built and Indian-flagged ships
The Right of First Refusal (RoFR) is now applicable to all inquiries for in-charter of foreign flagged vessels within a 20% margin of purchase preference.
- RoFR applies to: Indian-built, Indian-flagged, and Indian-owned ships; Foreign-built, Indian-flagged, and Indian-owned ships; and Indian-built, foreign-flagged, and foreign-owned ships.
- Temporary substitutes: Foreign flagged vessels chartered by an Indian citizen/company/society building a ship in an Indian shipyard are deemed Indian-built if 25% of the contract money has been paid and 50% of the hull fabrication has been completed.
II/4 The revised licensing conditions come into force from the date of issue of this order.
Important Note
Any grievance arising out of implementation of these guidelines should be referred to the Director General of Shipping.
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