New Delhi, April 8 The announcement of a ceasefire between the US and Iran, along with the reopening of the Strait of Hormuz, will provide immediate relief to exporters by easing shipping disruptions, FIEO said on Wednesday.US President Donald Trump announced a two-week suspension of military...
March 20, New Delhi — Rising security concerns around the Strait of Hormuz have disrupted maritime trade routes, leading to vessel diversions, longer sailing routes, congestion at transshipment hubs, and emergency conflict-related surcharges. These developments have increased logistics costs and...
New Delhi, March 13 The Ministry of Commerce is working to provide insurance support to exporters to help them cope with the ongoing West Asia crisis, an official said on Friday.An inter-ministerial group is monitoring developments on a daily basis and interacting with exporters."There is...
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Mumbai, March 10 Container terminal operators at the Jawaharlal Nehru Port will provide a 100 per cent waiver on ground rent/dwell time charges for containers bound for the Middle East that are stranded at the facility for up to 15 days, in response to disruptions caused by the ongoing conflict...
Mumbai, March 7 The Union Ministry of Shipping, Ports, and Waterways has proposed that ports consider requests regarding reductions, waivers, or remission of charges, including vessel change charges, and has also introduced a standard operating procedure (SOP) for them to address issues arising...
According to Crisil Ratings, a prolonged war in the Middle East could adversely affect several Indian sectors with direct trade exposure to the region, including basmati rice, fertilizers, diamond polishing, airlines, and travel operators.The rating agency said that sectors dependent on...