Recent Current Affairs related to Maritime

The Department of Financial Services (DFS) under the Ministry of Finance (MoF) has launched India’s first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP) in New Delhi.

The insurance product provides third-party liability coverage of up to $1.5 billion.

The Central University of Kerala (CUK) has signed an MoU with the Indian Navy to strengthen collaboration in the fields of maritime studies, defence research, innovation, and strategic knowledge development.

Engineers India LTD (EIL) has signed an MoU with the Council of Scientific and Industrial Research - Institute of Minerals and Materials Technology (CSIR-IMMT) in Odisha to collaborate on mineral processing, extractive metallurgy, and the value chain of critical and strategic minerals.

Additionally, EIL has signed an MoU with the Directorate General of Maritime Administration (DGMA), formerly known as the Directorate General of Shipping, to provide engineering and technical consultancy services for the development and modernisation of maritime projects.

PM Narendra Modi has visited New Zealand at the invitation of PM Christopher Luxon, marking the final leg of his 3-nation tour which also included Indonesia and Australia. He received a traditional Maori powhiri ceremonial welcome at the Government House in Auckland, followed by bilateral talks.

The meeting resulted in 18 major outcomes, including the signing of 10 MoUs and the elevation of India-New Zealand bilateral ties to a Strategic Partnership (SP). Both nations also adopted the 'Roadmap to 2030'.

Key announcements included a target to double bilateral trade to NZD 7 billion (₹35,000 crore) by 2030 and the establishment of a Maritime Security Dialogue. It is to be noted that New Zealand has nominated Maritime Security as a priority pillar under the Indo-Pacific Oceans Initiative (IPOI) and has officially joined the Global Biofuels Alliance (GBA), led by India.

World Hydrography Day:

Day – June 21

Theme 2026 – ‘Transforming how ocean data is shared’

Observed since – 2006

Indian jurist Bimal N Patel has been elected as a judge of the International Tribunal for the Law of the Sea (ITLOS) for the 2026-2035 term. He will assume office on October 2026, succeeding Neeru Chadha.

Union Minister Sarbananda Sonowal has unveiled the nationwide “Maritime Reform Utsav” during a review meeting of the Ministry of Ports, Shipping and Waterways (MoPSW) in New Delhi.

The initiative commemorates 12 years of maritime reforms in India. It focuses on reform gap analysis, inter-ministerial coordination, stakeholder participation, and skill development in maritime technologies and digital governance.

IIT Madras has launched an advanced hydrodynamic testing facility named “Circulating Water Tunnel Facility” at its Thaiyur campus in Chennai.

The facility is designed to strengthen indigenous ship design, ocean engineering research, and hydrodynamic testing capabilities in India. It was constructed with ₹4.5 crore in Corporate Social Responsibility (CSR) funding provided by Mazagon Dock Shipbuilders Ltd (MDL).

The Centre for Maritime Economy and Connectivity (CMEC), functioning under the Research and Information System for Developing Countries (RIS), has signed an MoU with the University of Delhi to strengthen maritime education and research through joint initiatives.

The Union Cabinet has approved the establishment of the Bharat Maritime Insurance Pool (BMI pool) to provide continuous maritime insurance coverage for Indian vessels. The initiative is backed by a sovereign guarantee of ₹12,980 crore to provide financial security and ensure insurance availability for the pool.

The BMI pool is intended to reduce dependency on external insurance and mitigate risks from global volatility and geopolitical instability in the maritime sector of India.