India's maritime fundamentals remain strong despite US tariffs, says Synergy Marine CEO
Mumbai: US reciprocal tariffs may cause friction in the short term for the maritime sector but over the long term, India's fundamentals remain strong, says
Synergy Marine Group
CEO. US President Donald Trump on April 2 imposed reciprocal tariffs on around 60 countries, including India, disrupting global trade. The US later suspended reciprocal tariffs until July 9 but has imposed base import tariffs of 10 per cent on all countries.
#Pahalgam Terrorist Attack
Pakistan suspends Simla pact: What it means & who's affected
What is India's defence muscle if it ever has to attack?
Can Pakistan afford a full-scale war with India?
On the likely impact of US reciprocal tariffs and trade uncertainty on the Indian shipping industry, Synergy Marine Group CEO Jesper Kristensen said, "In the short term, they (tariff actions) may cause friction."
"Over the long term, India's fundamentals remain strong. The country's expanding port capacity, growing export base, and skilled workforce make it a resilient and adaptive player in global shipping," Kristensen added.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
Synergy Marine Group is a global ship management company.
When asked about the impact of trade uncertainty on jobs in the shipping sector, Kristensen said that demand for multi-disciplinary maritime professionals is rising, not falling.
Live Events
"Driven by digitalisation, decarbonisation, and regulation, shipping is transitioning toward skills-based hiring. Demand for multi-disciplinary maritime professionals is rising, not falling."
"Our hiring outlook remains strong and forward-leaning. Synergy currently employs over 28,000 seafarers worldwide - 70% of whom are Indians. In the current fiscal year, we expect this proportion to increase further, in line with fleet expansion and the growing demand from shipowners for highly skilled Indian officers and crew," he said.
Synergy also has a significant shore-based presence, employing around 3,000 professionals across offices in seven cities in India.
"We anticipate an 8% increase in shore-based hiring this year, particularly in technical management, data analytics, crewing, and digital innovation roles-reflecting both our continued growth and the evolving expectations of shipowners globally," Kristensen said.
On future outlook, Kristensen said that the group is focusing on expanding its global footprint through selective new partnerships west of Suez, while further deepening long-standing relationships in Japan-its largest and most strategically significant market - over the next three years.
"We are also progressing into the offshore segment through our joint venture with EDT Offshore, marking a deliberate move into technically demanding and safety-critical operations that are central to the energy transition," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
18 minutes ago
- News18
Maldives Names Katrina Kaif Global Tourism Ambassador Amid Renewed Ties With India
Last Updated: The timing of the announcement is also crucial as it comes just ahead of the anticipated visit of Prime Minister Narendra Modi to the Maldives Maldives has appointed Bollywood superstar Katrina Kaif as its new Global Tourism Ambassador in a significant move aimed at enhancing its tourism appeal. The announcement was made on Tuesday by the Maldives Marketing and Public Relations Corporation (MMPRC), which expressed its excitement about the collaboration with one of the most recognisable faces in the Indian film industry. 'Having Katrina Kaif as our Global Brand Ambassador is a moment of great pride for us," said Thoyyib Mohamed, managing director of MMPRC. 'Her popularity, combined with her influence in the global entertainment industry, will undoubtedly help us attract more visitors from across the world, especially from India." Visit Maldives Unveils Katrina Kaif as Global Brand Ambassador for the Sunny Side of Life. — Visit Maldives (@visitmaldives) June 10, 2025 Speaking about her new role as the Sunny Side of Life's Global Brand Ambassador, Kaif said: 'The Maldives represents the pinnacle of luxury and natural beauty—a place where elegance meets tranquillity. I'm honoured to be chosen as the face of the Sunny Side of Life. This collaboration is about bringing the finest travel experiences to global audiences, and I'm excited to help people around the world discover the unique charm and world-class offerings of this extraordinary destination." Kaif's appointment comes at a pivotal time as the Indian subcontinent remains a key source of tourists for the island nation. The Maldives, known for its crystal-clear waters, luxury resorts, and serene beaches, has long been a favoured destination for Indian travellers and Kaif, with her massive fan base across India and globally, is expected to play a key role in further boosting the Maldives' tourism profile. The situation worsened last year when PM Modi posted a series of photos on social media, showing him snorkelling, strolling on a white-sand beach and lounging in a chair next to turquoise waters in Lakshadweep. As he praised the pristine lesser-known and remote Indian archipelago that the government believes has untapped potential for tourism, his photos stirred a storm in Maldives as some saw the tourism campaign as an attempt to draw visitors away from their country. Three senior Maldives officials reacted to PM Modi's post by calling him names, while many other Maldivians insulted Indian tourists on social media. This led to retaliation by Indian tourists who cancelled their holidays to the Maldives, hitting Male where it hurt the most. Finally, as Muizzu visited India in October, the two nations seemed to finally be resetting their ties. India has extended a $50 million treasury‐bill rollover interest‑free to support Maldives' fiscal reforms and help address its debt pressures, re‑affirming its 'Neighbourhood First" policy.
Hans India
20 minutes ago
- Hans India
Piyush Goyal rolls out red carpet for Swiss firms to invest in India
Commerce and Industry Minister Piyush Goyal has invited Swiss companies to expand their footprint in India and take advantage of the country's dynamic and rapidly growing market. The minister held a meeting in Bern with the leadership from several premier Swiss companies across diverse sectors and urged them to see India as a strategic hub for manufacturing, talent, and innovation. The discussions focussed on enhancing synergies between Indian and Swiss enterprises, with a special emphasis on innovation, technology transfer, and sustainable manufacturing, according to an official statement issued on Tuesday. Goyal assured the business leaders of India's unwavering commitment to fostering a conducive business environment through transparent regulatory processes, a robust Intellectual Property regime, and pro-investment policy frameworks. Following these strategic discussions, the Minister chaired two focussed roundtables with sectoral leaders from the Swiss industry —covering biotech and pharma, healthcare, and precision engineering, Defence, and Emerging Technologies. These sessions, hosted with the support of the Indian Embassy in Switzerland, highlighted India's scale, affordability, and rising innovation ecosystem. The Minister called on Swiss businesses to leverage the dedicated EFTA Desk at Invest India for handholding and facilitation support. He reiterated India's willingness to work towards regulatory harmonisation and mutual recognition agreements, highlighting India's proactive stance on building reciprocal bridges to encourage Swiss and Indian investments. In addition to industry interactions, the Minister also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He lauded the chapter for their contributions and for upholding the high standards and global reputation of the ICAI, while strengthening the India–Switzerland professional and business ecosystem. Swiss industry leaders across a diverse range of sectors — including biotechnology, precision manufacturing, healthcare, automation, Defence, cybersecurity, and advanced materials — expressed strong confidence in India's trajectory as a global economic powerhouse and an innovation-led growth destination, the statement said. Companies commended India's unique strengths: A vast and dynamic market, growing middle class, world-class engineering and scientific talent, and a policy environment that actively promotes ease of doing business, IP protection, and technology partnerships. For many, India is not only a promising market but also an ideal base for manufacturing, R&D, and co-creation of globally competitive solutions. Several firms indicated active interest in forming joint ventures, scaling operations, and localising production to serve both Indian and international markets. From cutting-edge cancer therapies and cell sciences to industrial automation, fibre optics, space technologies, and digital security, Swiss companies underscored their alignment with India's developmental priorities and sectoral growth plans. The sentiment was one of strategic alignment and long-term commitment. Many participants described India as a natural partner and conveyed readiness to invest in its next phase of growth, not only to tap into domestic demand but to position India as a hub in their global value chains, the statement added.
Economic Times
25 minutes ago
- Economic Times
Kent RO Systems among four firms to win Sebi nod for IPOs
Tired of too many ads? Remove Ads Kent RO Systems Tired of too many ads? Remove Ads Karamtara Engineering Vidya Wires Tired of too many ads? Remove Ads Mangal Electrical India's capital markets regulator Sebi (Securities and Exchange Board of India) has given the green light to initial public offerings of four companies, including water purification giant Kent RO Systems, in a move that underlines the growing momentum in the country's IPO pipeline across manufacturing and energy four companies that received IPO approvals are Kent RO Systems, Vidya Wires, Karamtara Engineering, and Mangal Electrical Industries. Their proposed offerings, spanning a mix of fresh issues and offers for sale, reflect a wide industry spread from water purifiers and kitchen appliances to transformers, specialty wires, and renewable energy RO Systems, a pioneer in India's water purifier industry, has received Sebi approval for a book-built IPO comprising an offer for sale of 1.01 crore equity shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer.'The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges,' the company said in its draft red herring in 2007, Kent is credited with bringing reverse osmosis (RO) technology into Indian homes. Its NSF/ANSI 58-certified purifiers were the first in India to meet this U.S.-based national standard for point-of-use RO brand has since expanded into IoT-enabled and zero-water-wastage models, while also foraying into BLDC motor fans, high-speed mixers, and infrared cooktops. Kent operates four manufacturing units and has a wide service network spanning 15,000+ pin codes. JM Financial and Motilal Oswal Investment Advisors are the book running lead managers for the issue, while Kfin Technologies is the Engineering, a manufacturer of products for transmission lines and renewable energy infrastructure, has received approval for a Rs 1,750 crore IPO, which includes a Rs 1,350 crore fresh issue and a Rs 400 crore offer for company is a one-stop supplier for solar structures, fasteners, and transmission hardware, and is entering the wind energy space with a new facility to produce tubular towers. Its global footprint spans over 50 issue is being managed by JM Financial, ICICI Securities, and IIFL Capital Services . MUFG Intime India (Link Intime) is the and aluminum wire manufacturer Vidya Wires plans to raise Rs 320 crore via fresh issue, along with an offer for sale of 1 crore in 1981, the company supplies over 6,400 types of winding and conductivity products to sectors such as power generation, railways, and electric mobility. It intends to expand its manufacturing capacity from 19,680 MT to 37,680 MT annually with a new facility in Narsanda, IPO is being handled by Pantomath Capital Advisors and IDBI Capital Market Services, with MUFG Intime India (Link Intime) as the Electrical Industries, a Rajasthan-based transformer and electrical equipment manufacturer, received clearance for a Rs 450 crore IPO, which will be entirely a fresh company produces CRGO slit coils, transformer laminations, wound cores, and oil-immersed circuit breakers, and also provides EPC services for setting up electrical substations. Systematix Corporate Services is the book-running lead manager, while Bigshare Services is the approvals come as India's primary markets continue to see strong interest from both companies looking to raise growth capital and investors keen on gaining exposure to industrial and clean energy themes.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
