India waives port procedures for cargo forced to turn back due to Strait of Hormuz crisis

India has eased import rules for export shipments returning home. This relief is for 15 days. Vessels can unload cargo at Indian ports without usual procedures. This measure helps traders and shipping lines facing disruptions. Customs will verify details and cancel export incentives for these returned goods. The move aims to support businesses affected by […]

Customers can discharge at Khorfakkan Port or Fujairah Port

Syama Prasad Mookerjee Port, Kolkata will soon have a Floating Storage and Regasification Unit at Haldia Dock Complex. East Horizon Pvt Limited will establish this facility. The project involves an investment of approximately Rs 260 crore. This will boost LNG handling capabilities in eastern India. It will also support cleaner energy infrastructure development and strengthen […]

Indian ports are considering waiving or reducing charges for cargo stuck due to the West Asia conflict. This move aims to ease congestion and container shortages. Perishable goods will be prioritized. Discussions are also underway with insurance firms and banks to manage rising premiums and ensure smooth operations for exporters and shipping lines.

Indian shipping groups and an oil company are urging security escorts for ships in the Strait of Hormuz. They also propose using alternative ports like Yanbu in Saudi Arabia. This aims to keep energy and other goods flowing from West Asia. Companies want ports to waive charges on stuck cargo.

India granted permission for an Iranian naval ship to dock at Kochi after it faced technical issues. External Affairs Minister S. Jaishankar stated this was a humanitarian decision. The vessel, IRIS Lavan, had participated in naval exercises before encountering problems. This action highlights India’s role in the Indian Ocean’s evolving security landscape and its commitment […]

Indian fruit and vegetable exporters face a crisis. Shipping lines are imposing hefty war-risk surcharges, even on cargo already at sea. This is causing significant financial strain, with many small exporters fearing bankruptcy. The government is mediating discussions as exporters seek relief from these unexpected charges. Some shipments are being diverted, adding further complications and […]

India might ease cabotage rules for foreign ships carrying domestic cargo. This move is being considered due to a potential shortage of vessels and containers. The West Asia conflict is impacting freight costs and shipping. Authorities are discussing temporary solutions to manage the crisis. Discussions also involve handling stranded cargo and ensuring the safety of […]

India is considering relaxing cabotage rules for foreign vessels to address a potential shortage of ships and containers amid rising freight costs due to the West Asia crisis. Authorities are also developing protocols for stranded cargo, with around 38,000 containers currently held up, including perishable goods.

Rates for shipping lines to buyback this cover that usually climb as much as 50% in wartime have instead tripled in some cases – rising to $750,000 per vessel from $250,000, the people said, asking not to be identified because the information is private.