Tag: Mumbai

India Drops Anchor in Colombo: Mazagon Dock’s $53M Buyout Bolsters Maritime Reach, Counters China

Mazagon Dock Shipbuilders Limited (MDL) plans to acquire a controlling stake in Sri Lanka’s Colombo Dockyard PLC for US$52.96 million, marking India’s first major international acquisition in maritime. This strategic move enhances India’s presence in the Indian Ocean, addresses financial challenges at Colombo Dockyard, and counters China’s influence in the region.

India coast guard averts major disaster off Sri Lanka, fights fire on Very Large Crude Carrier

New Delhi: An alert and sharply intuitive operation by India’s coast guard has averted a major shipping and environment disaster off Sri Lanka this month that had threatened ecological degradation along the South Asian giant’s southern coast, the island nation’s eastern coast and the Maldivian atolls. The Indian […]