80 years
Photo credit:
Brazilian Navy
Location of WWII ship sunk by Nazi submarine confirmed
On the night of July 19, 1944, the ship was torpedoed by the German submarine U-861. The attack led to the ship sinking, and 100 of the 270 crew members onboard lost their lives. Vital de Oliveiro became the only Brazilian military ship to be sunk by enemy forces during World War II.
The Brazilian Navy has finally confirmed the location of the Vital de Oliveiro, a Brazilian troop transport ship torpedoed and sunk by a Nazi submarine during World War II, after more than 80 years of mystery.
The wreck was identified using advanced sonar imaging, lying about 65 kilometres off the coast of Rio de Janeiro. The ship joined the Brazilian Navy in 1931 and became a troop transport during World War II.
In addition to the Vital de Oliveiro, the Brazilian Navy lost two other warships during World War II. The Camaquã, a corvette, capsized in a storm in 1944, killing 23 crew members. The Bahia, a cruiser, sank in 1945 after accidentally detonating its depth charges during gunnery practice, resulting in the deaths of 333 people.
$3b
India plans to spend $3 billion to support its maritime sector
20 | ISSUE 111 | MAR 2025 | THE REPORT
Image courtesy of Cochin Shipyard
India has firmed up its ambition to become a global maritime powerhouse, with the government allocating around $6 billion to the shipping sector in the 2025-26 fiscal year. On Saturday, India’s Finance Minister Nirmala Sitharaman presented to Parliament budget documents, revealing billions of dollars the government intends to spend in upgrading the country’s maritime infrastructure.
The government has proposed financial assistance of $3 billion to help set up a Maritime Development Fund (MDF). The government will contribute 49 percent of the fund with the remaining balance to be contributed by port authorities and the private sector. The fund will be accessed via equity or debt options. Primarily, the fund is targeted in financing ship acquisitions, consistent with the government policy of boosting Indian-flagged ships’ share in the global market by up to 20 percent by 2047. In addition, an indigenous fleet will reduce India’s dependence on foreign ships, improving the balance of payments. The government believes that by 2030, the MDF will be generating up to $17 billion in investment in the shipping sector.
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