Shipping is an important indicator of both commodity and services trade of any country. It
plays an important role in the Indian economy with around 95% of India’s trade by volume and 68% in terms of value being transported by sea. As on December 31, 2015, India had a fleet strength of 1247 ships with Gross Tonnage (GT) of 10.51 million, with the public-sector Shipping Corporation of India having the largest share of 38%. Of this, 373 ships with 9.00 million GT cater to India’s overseas trade and the rest to coastal trade.