Rising bunkering trade, a mega opportunity for Indian ports - BusinessLine

Southern ports in India, such as Cochin and Chennai, have the opportunity to benefit from the growing bunkering trade in global maritime transport. The global bunker fuel market is expected to reach $164.9 billion by 2030, with a rising demand for bunker fuel post-Covid. These ports are well-positioned and involved in the bunkering business. However, concerns have been raised about the 5% GST tax on bunker fuel, which makes the business unattractive compared to competing ports. Exempting bunker fuels from tax would help maintain competitive rates and attract more shipping companies to Indian ports.

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