Prime Minister Dr. Manmohan Singh has called for an accelerated pace of expansion in the shipping industry and the port sector by means of private-public partnership.

Addressing the Golden Jubilee Celebration of the Shipping Corporation of India in Mumbai today, he stressed that much more needs to be done in the field of coastal security especially in the context of piracy incidents.

Dr. Singh said, India’s growing economy offers excellent opportunities for our maritime sector and there is an urgent need to develop shipping in tune with the global economic environment.

The Prime minister emphasised that in the context of India's growing international trade and increasing energy demands and dependence on global energy markets, there is an urgent need to further develop our national fleet.

He also said that a good transport infrastructure is critical for the country’s growth and coastal and inland shipping needs to be developed in an environment-friendly and fuel-efficient manner.

Congratulating the Shipping Corporation of India on being the most diversified company carrying a wide range of cargo, he urged the company to compete at a global level. Dr. Manmohan Singh emphasised the need for seamless integration of various modes of transport and ensuring good road and rail connectivity for the ports. He said, a National Transport Development Policy committee has been set up which will provide useful suggestions for future growth.

The Prime Minister also released a coffee table book to mark the golden jubilee of the Shipping Corporation of India. Governor of Maharashtra, Mr. K Sankaranarayanan and Chief Minister, Mr. Prithviraj Chavan were also present on this occasion.

Minister of Shipping G.K. Vasan, who was also present on the occasion, said that the shipping sector has been facing many challenges in recent times. One of the biggest challenges is the rise in incidents of piracy off the coast of Somalia. He said that the Shipping Ministry has been working in close coordination with the MEA, the Indian Navy and other International agencies to tackle this menace.

In order to tackle marine accidents and the consequential oil pollution, the Minister said that the Shipping Ministry will issue a notification regulating the movement of ships over 25 years of age. He expressed confidence that these restrictions will make our coastline safer and cleaner.