Limit for charter in of tonnage - Section 115VV

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..... any previous year shall be chartered in. * The proportion of net tonnage in respect of a previous year shall be calculated based on the average of net tonnage during that previous year in such manner as may be prescribed in consultation with the Director-General of Shipping. * As per Rule 11S, the average of net tonnage shall be computed by dividing total number of chartered-in-ton days by the .....

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..... 2. Calculation of average of net tonnage for computing the limit for charter-in (illustrative example): Ship No. Ownership/type of operation Net Tonnage No. of days Ton-days Operation Charter- in 1. Qualified ship chartered-in on BBCD basis 11,000 365 40,15,000 - 2. Owned qualified ship 15,000 365 54,75,000 - 3. Owned qualified ship but chartered out on BBC basis to another co .....

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