Foreign Owners Representatives and Ship Managers Association (FOSMA)
The Foreign Ship-owners Representatives and Ship Managers Association was established in India in 1989 with the following objects:
- To provide body representative of the foreign owners and ship managers operating in India for the purpose of developing, promoting and protecting their business activities and the interest of foreign owners in India.
- To encourage and promote cordial relationship and unanimity among representatives of foreign owners and ship managers on all subjects involving their common good.
The Association is registered in India as a non profit organization under section 25 of the Companies Act, 1958(now Section 8 of the Companies Act, 2013).
As a body representative, the Association takes up matters of common interest of Member Companies and their seafarers with the Authorities concerned to obtain a rational resolution of all the issues involved.
Taking in to account that the education, training and competence standards of seafarers is of primary concern and priority of all ship managers in India, the Association, in addition, established a special purpose vehicle towards achieving this object by registering “FOSMA MARITIME INSTITUTE AND RESEARCH ORGANISATION ” , a non profit organization under section 25 of the Companies Act, 1958(now Section 8 of the Companies Act, 2013). All the member companies of the Association are required to receive from their Principals / Ship owners and contribute towards education and training to this Organisation at a pre-determined rate per month per seafarer engaged by them.