SINGAPORE: India has withdrawn trading licences for oil tankers and bulk carriers that are more than 25 years old, its shipping regulator said, as the world's third-largest greenhouse gas emitter looks to cut emissions and reduce the average age of its fleet.
The order also bans acquisition of such vessels that are more than two decades old. Under current guidelines, vessels that are less than 25 years old can be acquired without any technical clearance.
"There is a need to modernise the Indian fleet, which requires extensive review of the requirements of the registration and operation of the ships," the Directorate General Of Shipping said in the order uploaded on its website late on Monday.
The average age of Indian fleet has been increasing in the recent years, bucking a global declining trend.
"Age norms will assist in ensuring gradual phasing out of fossil fuel ships and ushering in of alternate/low carbon energy efficient ships," the order said.
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