• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Right of First Refusal(ROFR) licensing

October 23, 2020
in Economy, Security
Reading Time: 2 mins read
0
Right of First Refusal(ROFR) licensing
1.1k
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In news

In order to boost shipbuilding in India, Ministry of Shipping amends Right of First Refusal (ROFR) licensing conditions

Key amendments

  • To promote the demand of the ships built in India, priority in chartering of vessels is given to vessels built in India, flagged in India and owned by Indians under the amendments in the guidelines of ROFR(Right of First Refusal).
  • Now it has been decided that for any kind of charter of a vessel undertaken through a tender process, the Right of First Refusal (RoFR) would be exerted in the following manner:
    1. Indian built, Indian flagged and Indian owned
    2. Foreign built, Indian flagged and Indian owned
    3. Indian built, foreign-flagged and foreign owned

Provided that:

  1. All vessels flying the flag of India (i.e. registered in India) up to the date of issue of new circular by the Director-General of Shipping shall be deemed to be Indian built vessels and will fall in category (i) above and
  2. The foreign flagged vessels permitted by DG (Shipping) under Section 406 of the Merchant Shipping Act, 1958 for chartering by an Indian citizen/company/society, who is building a ship in an Indian shipyard for registration under the Indian flag, as a temporary substitute for the Indian ship under construction, meeting the following two conditions shall be deemed to fall under Category (i) above.
    • 25% of the contract money has been paid to the Indian shipyard
    • 50% of the hull fabrication has been completed, as certified by Recognised Organisation.
image_pdfMake PDF
Source: PIB
Tags: Prelims

Related Posts

Revamped CGTMSE Scheme

Revamped CGTMSE Scheme

May 1, 2023
Common Reporting Standard

Common Reporting Standard

May 1, 2023
What is Gum Arabic?

What is Gum Arabic?

May 1, 2023
World Development Report 2023: Migrants, Refugees, and Societies

World Development Report 2023: Migrants, Refugees, and Societies

April 27, 2023
Manamadurai pottery

Manamadurai pottery

April 26, 2023
SIPRI report 2023

SIPRI report 2023

April 25, 2023
Logistic Performance Index (LPI) 2023

Logistic Performance Index (LPI) 2023

April 25, 2023
Operation Kaveri

Operation Kaveri

April 25, 2023
Parvatmala Pariyojana

Parvatmala Pariyojana

April 22, 2023
CPCB revised the financial grants for biomass pellet manufacturing units

CPCB revised the financial grants for biomass pellet manufacturing units

April 22, 2023
Please login to join discussion
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In