State-owned GIC Re will withdraw Marine Hull War Risk cover from several high-risk regions starting in early March, including the Persian Gulf, Black Sea, and Red Sea, amid rising geopolitical tensions. Ship owners should review their insurance arrangements, as there will be no war risk protection from GIC Re for operations in these regions after […]
GIC Re withdraws marine hull war cover in high-risk regions
India has issued a maritime advisory for its seafarers. This comes amid rising tensions in the Middle East. The advisory urges vigilance and adherence to official guidance. Shipping companies must monitor Indian crew safety. This proactive step aims to ensure maritime safety and readiness for swift response.
Adani Ports and SEZ Ltd’s Haifa Port has confirmed that its assets and infrastructure are secure and operational, with all employees safe. The port authority is closely monitoring the situation and coordinating with the Ministry of Transport to ensure the safety of its people and the continuity of operations for Israel’s supply chain and international […]
VO Chidambaranar Port plans a massive Rs 15,000 crore Outer Harbour project. This initiative aims to significantly increase cargo handling capacity. The port seeks to become a major transhipment hub for southern India. The project will add substantial capacity by 2027 and 2030. It will attract larger vessels and boost regional employment. This expansion aligns […]
Indian ships are told to avoid West Asian ports and the Strait of Hormuz. Major shipping companies have suspended bookings and rerouted vessels. The Strait of Hormuz is closed. This is a precautionary measure amid regional conflict. About 25 Indian vessels are being monitored.
Escalating Iran-Israel tensions threaten India’s energy security, potentially raising oil prices and inflation. Disruptions in West Asia, a crucial $178.5 billion trading bloc for India, could impact the rupee and force exporters to find new routes. The Strait of Hormuz, vital for energy imports, remains a key chokepoint.
Indian onion exports to West Asia have stopped. Major ports in the region closed operations on Sunday. This has suspended vessel movements. Consignments are now stranded. The disruption occurs during the Ramadan shipping window. Overseas demand typically surges by 30% at this time. Farmers in northern Maharashtra face subdued prices.
India’s electronics and tech exports to the Gulf face potential disruption due to the Iran conflict. The UAE, a major buyer, has seen its infrastructure targeted. Shipments to the UAE and Saudi Arabia, crucial markets for Indian electronics, rely on routes through or near Iranian airspace. This situation is being closely monitored by the government.
The Central Board of Indirect Taxes and Customs is launching a new facility for manufacturer importers. Approved companies can now defer customs duty payments. This move aims to boost cash flow and support domestic manufacturing. The scheme will be operational from April 1, 2026, to March 31, 2028. Eligible firms will pay duties monthly instead […]
Indian exports of rice, tea, and fruits to Africa and West Asia face significant disruption. Joint military operations by the US and Israel, and Iran’s retaliation, are expected to impact maritime traffic. This could lead to longer shipping times and increased costs for goods destined for Western markets. The situation creates uncertainty for major buyers […]