The maritime sector may experience short-term challenges due to recent reciprocal tariffs imposed by the U.S. on about 60 countries, including India, according to Jesper Kristensen, CEO of Synergy Marine Group. On April 2, 2025, President Donald Trump initiated these tariffs, causing disruption in global trade. Although the U.S. later chose to suspend the tariffs until July 9, it has enacted a base import tariff of 10% on all nations.
Kristensen remarked that while these tariff actions may induce some friction in the short term, India’s long-term fundamentals remain robust. Factors contributing to this resilience include India’s expanding port capacity, increasing export base, and a skilled workforce. Synergy Marine Group, a global ship management entity, employs over 28,000 seafarers worldwide, with 70% being Indian. Kristensen highlights that the demand for multi-disciplinary maritime professionals is on the rise due to trends like digitalization, decarbonization, and regulatory changes, driving the shipping industry toward skills-based hiring rather than shrinking job opportunities.
This fiscal year, Synergy anticipates an increase in the percentage of Indian officers and crew as the company aims to expand its fleet and meet growing demand. The shore-based workforce is also expected to grow, with an 8% rise anticipated this year, particularly in roles related to technical management, data analytics, crewing, and digital innovation. Kristensen pointed out that this growth reflects both ongoing company expansion and evolving expectations from shipowners globally.
Looking ahead, Synergy is focused on enhancing its global reach through strategically selected partnerships, particularly west of Suez. The company also plans to strengthen its relationships in Japan, its largest market, over the next few years. Additionally, through a joint venture with EDT Offshore, Synergy Marine is making strides into the offshore segment, venturing into technically demanding and safety-critical operations that play a vital role in the energy transition.
In conclusion, while the immediate impact of U.S. reciprocal tariffs poses challenges for the shipping industry, the long-term outlook for India remains positive. The country’s solid infrastructure, skilled labor force, and adaptability position it well for future growth within the global maritime landscape.
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