Leading importers and distributors of newsprint and paper Poddar Global Private Limited brought a chartered break bulk vessel M/V LADA carrying standard newsprint from Russia. This is to ease the tightening newsprint supplies to Indian newspapers. It arrived at Mumbai Port on June 5. It is the first time after 25 years Russia has loaded the first break bulk vessel of newsprint. India also got for the first time newsprint by break bulk after 25 years.
Poddar, apart from seeking necessary permissions, licences and approvals, arranged specially designed equipment and machinery for handling of break bulk cargo of newsprint. It kept in mind the safety, security and fragile nature of the newsprint. The exclusion of Russian newsprint from Asian markets due to sanctions following its invasion of Ukraine is exacerbating the undersupply situation and leaving the Indian newspapers struggling to find supplies. Also, non-availability of containers and vessels in view of shipping lines ceasing operations, hampered banking and financing services due to sanctions and non-availability of insurance coverage for Russian cargo is massively cutting the trade. Newsprint prices will continue to rise due to the ongoing tight supply and also increase in demand in India ahead of festival season from August to October.
