“The government is taking steps to protect the Indian shipping companies from the adverse impact of this crisis and the meetings are taken at regular intervals with all stakeholders to review the situation. Moreover, Shipping lines have been requested to explore alternative routes for Commonwealth of Independent States (CIS) / Russian cargo. The EXIM Traders were informed that M/s ONE Shipping is carrying containers to Vladivostok,” the Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal informed.
Shipping businesses are having difficulties as a result of the war between Russia and Ukraine. In addition, shipping activity in the northern Black Sea has ceased, and P&I has withdrawn its insurance coverage. Furthermore, containers headed for Ukraine and Russia are awaiting transhipment at various transhipment ports. Due to the blockade of SWIFT in Russia, payments have been hampered. The conflict in Ukraine has caused congestion in nearby ports. Furthermore, trade with Russia and the Commonwealth of Independent States has been hampered, and shipping lines are refusing to receive products from Russian ports.
