A group of state-owned shipping and port entities is set to establish a new container shipping line under the Atmanirbhar Bharat initiative, aimed at reducing India’s dependence on foreign carriers for export and import cargo.

According to a report by The Economic Times, the proposed venture, to be named Bharat Container Line, will bring together key public sector players across India’s maritime ecosystem. Shipping Corporation of India and Container Corporation of India, both Navratna companies, are expected to hold 30 per cent equity each in the joint venture.

Sagarmala Finance Corporation Ltd, a recently established non-banking financial company focused on the maritime sector, is set to acquire a 20 per cent stake. The remaining equity will be held by major port authorities, with Jawaharlal Nehru Port Authority owning 10 per cent, while Chennai Port Authority and VOC Port Authority will share the remaining 10 per cent equally.

Sources indicated that the joint venture partners are likely to sign a memorandum of understanding in the coming days, formally initiating the process.

Currently, India’s container trade is dominated by foreign shipping lines, which handle nearly 99 per cent of the country’s export-import container volumes. Global carriers such as MSC, CMA CGM, Maersk, Hapag-Lloyd, Evergreen, Wan Hai, Yang Ming and COSCO account for the bulk of container shipments.

By contrast, Shipping Corporation of India, the country’s only mainline container ship operator, owns just three container vessels. Exporters have repeatedly highlighted this imbalance, warning that the absence of a strong national container carrier exposes Indian trade to volatility in global freight rates and capacity constraints.

The proposed Bharat Container Line is expected to strengthen India’s maritime capabilities, improve supply chain resilience and enhance the country’s strategic autonomy in global shipping.