GENERAL/ MISCELLANEOUS CIRCULARS
Modified Guidelines for Shipbuilding Financial Assistance Scheme (SBFAS) by Ministry of Ports
By TEAM CIRCULAR EXPRESS • 28 Oct 2026
👁 2 views
• The Ministry of Ports, Shipping and Waterways has issued modified guidelines for the Shipbuilding Financial Assistance Scheme (SBFAS), effective from 28.10.2026.
• The scheme provides financial incentives to Indian shipyards for vessel construction.
• It introduces a Ship Recycling Credit Note scheme, offering owners 40% of the Fair Scrap Value for vessels scrapped in India to be used for new builds.
• The scheme provides financial incentives to Indian shipyards for vessel construction.
• It introduces a Ship Recycling Credit Note scheme, offering owners 40% of the Fair Scrap Value for vessels scrapped in India to be used for new builds.
purpose of issuance
To provide modified guidelines for the implementation of the Shipbuilding Financial Assistance Scheme (SBFAS) and the Ship Recycling Credit Note scheme.
Most Important Details
The scheme applies to shipbuilding contracts signed from 24.09.2025 to 31.03.2036. It includes provisions for financial assistance based on vessel category and contract price, and introduces a Ship Recycling Credit Note equivalent to 40% of the Fair Scrap Value for vessels scrapped in India.
is it guidelines or office order
Guidelines
purpose of issue
To regulate financial assistance for shipbuilding and incentivize ship recycling in India.
All the Most Important details in the circular
The circular details the eligibility criteria for vessels, the methodology for calculating financial assistance, the process for applying for Ship Recycling Credit Notes, and the grievance redressal mechanism. It also includes various annexures for application procedures, indemnity bonds, and valuation frameworks.
its purpose it serves
To promote domestic shipbuilding and sustainable ship recycling practices in India through financial incentives.
Tender issuance authority
Ministry of Ports, Shipping and Waterways
🔒 Document — view only
Regards, Circular Express
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GENERAL/ MISCELLANEOUS CIRCULARS
Modified Guidelines for Shipbuilding Financial Assistance Scheme (SBFAS) by Ministry of Ports
By TEAM CIRCULAR EXPRESS • 28 Oct 2026
👁 2 views
• The Ministry of Ports, Shipping and Waterways has issued modified guidelines for the Shipbuilding Financial Assistance Scheme (SBFAS), effective from 28.10.2026.
• The scheme provides financial incentives to Indian shipyards for vessel construction.
• It introduces a Ship Recycling Credit Note scheme, offering owners 40% of the Fair Scrap Value for vessels scrapped in India to be used for new builds.
• The scheme provides financial incentives to Indian shipyards for vessel construction.
• It introduces a Ship Recycling Credit Note scheme, offering owners 40% of the Fair Scrap Value for vessels scrapped in India to be used for new builds.
purpose of issuance
To provide modified guidelines for the implementation of the Shipbuilding Financial Assistance Scheme (SBFAS) and the Ship Recycling Credit Note scheme.
Most Important Details
The scheme applies to shipbuilding contracts signed from 24.09.2025 to 31.03.2036. It includes provisions for financial assistance based on vessel category and contract price, and introduces a Ship Recycling Credit Note equivalent to 40% of the Fair Scrap Value for vessels scrapped in India.
is it guidelines or office order
Guidelines
purpose of issue
To regulate financial assistance for shipbuilding and incentivize ship recycling in India.
All the Most Important details in the circular
The circular details the eligibility criteria for vessels, the methodology for calculating financial assistance, the process for applying for Ship Recycling Credit Notes, and the grievance redressal mechanism. It also includes various annexures for application procedures, indemnity bonds, and valuation frameworks.
its purpose it serves
To promote domestic shipbuilding and sustainable ship recycling practices in India through financial incentives.
Tender issuance authority
Ministry of Ports, Shipping and Waterways
🔒 Document — view only
Regards, Circular Express
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#All India#MOSPI
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