new Delhi. Shipping companies are facing a crisis as the Russo-Ukraine War has closed the northern Black Sea, leading to overcrowding as containers at different transshipment ports to Ukraine and Russia. This was informed in Parliament on Friday.
Another consequence of the war is that the insurance cover by Protection and Indemnity (P&I) has been withdrawn, Shipping Minister Sarbananda Sonowal told the Lok Sabha in a written reply to a question. SWIFT blockade in Russia has affected payments and trade to Russia and CIS countries as shipping lines at Russian ports are not accepting goods.
He said that the government has taken steps to protect Indian shipping companies from the adverse effects of this crisis and meetings are held at regular intervals with all stakeholders to review the situation, an alternative to the Commonwealth of States independent of shipping lines. Routes have been requested to be traced.
He said that Exim Traders was informed that One Shipping was taking the containers to Vladivostok.
—AnyTV News
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