DG SHIPPING ADVISORY
Shipping authority directs placement agencies to restrict deployment of Indians in conflict zone
Indian seafarers are being restricted from deployment to conflict zones. This directive follows a US military strike on a commercial vessel off the Oman coast. Three Indian crew members were killed in the incident. The Directorate General of Shipping issued the advisory to maritime recruitment agencies. Masters of vessels in the Gulf region are urged to maintain high security awareness.
Govt examining removal, reduction of 11% import duty on cotton: Official
This move aims to ease cost pressures on domestic textile companies. Discussions are underway with relevant ministries for potential reduction or temporary elimination of the duty.
Ports listing concessions for stranded containers on website
Indian ports are now displaying stranded cargo eligible for concessions on their websites. This move aims for transparency and ensures exporters receive benefits directly. Jawaharlal Nehru Port alone has provided concessions worth around Rs 22 crore. The government is actively engaging with stakeholders to resolve issues. Shipping lines are cautioned against profiteering from the West Asia crisis.
Govt shares key updates on oil, gas shortage, shipping & more amid Israel-Iran war
India is actively managing its oil and gas supplies amidst global conflicts. Key LPG carriers are en route, and the nation is prioritizing natural gas for essential consumers. The government is also expediting infrastructure development and advising consumers on alternative fuels. Efforts are underway to ensure the safe return of Indian citizens from affected regions.
Iran-Israel War: One of 28 Indian-flagged vessels stranded in Strait of Hormuz sails away safely
The Indian oil tanker Jag Prakash has boldly navigated through the tumultuous Strait of Hormuz, marking a significant achievement amidst increasing regional conflicts that had left 28 Indian vessels stranded. Carrying a vital cargo of gasoline from Oman destined for Tanzania, the Jag Prakash serves as a beacon of resilience.
Indian seafarers in West Asia should be cautious: Shipping Ministry
Indian seafarers in West Asia are urged to stay employed and prioritize safety. No directives have been issued for them to return home. Advisories are in place for those on both Indian and foreign flagged vessels. Maritime incidents have resulted in casualties and missing personnel. Tensions in the region have impacted ship movement and global supply chains.
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Shipping lines cite higher costs beyond their control for surcharges
Shipping lines state freight rates are already at a multi-year low. Port operators express concern over proposals for extended free storage of stranded containers. The government is holding consultations to address maritime trade issues. Shipping lines face allegations of predatory pricing amidst disruptions in West Asia.
Centre mulls insurance support for exporters dealing with ongoing West Asia crisis: Piyush Goyal
The Indian government is exploring new insurance schemes to aid exporters impacted by the West Asia crisis. An inter-ministerial group is actively monitoring the situation and consulting with the Export Credit Guarantee Corporation. Shipping lines are advised against opportunistic pricing. Guidelines are being issued for returning export cargo.
DG Shipping moves to curb ‘predatory’ pricing by shipping lines
The Directorate General of Shipping is taking significant steps to safeguard the interests of Indian exporters by tackling unreasonable fees imposed by shipping lines. Numerous exporters have reported facing unexpected charges and opportunistic pricing schemes. To counter this, the maritime regulator is insisting that all fees be communicated transparently ahead of time.
India to add small ships to West Asia from April 15 as freight surges 300%: FIEO
Amidst the turmoil of the West Asia crisis, exporters are grappling with an astonishing 300 percent hike in sea freight rates. In response, India plans to ramp up operations of smaller vessels between India and Gulf nations starting April 15. This strategic shift is designed to alleviate the backlog of shipments and mitigate the effects of soaring shipping expenses.
Exclusive| DG Shipping advisory to shipping lines: No predatory, opportunistic or non-transparent pricing
India's Directorate General of Shipping will soon issue an advisory to shipping lines to curb predatory pricing and excessive surcharges impacting exporters. This move follows allegations of inflated costs for West Asia-bound containers, with concerns that high shipping expenses are making Indian exports unviable.
Uncertainty looms as shipping is hit, exporters in wait and watch mode
India's Directorate General (DG) of Shipping issued advisories for seafarers presently in Iran, Strait of Hormuz, Persian Gulf and adjacent waters including those awaiting joining of vessels or awaiting wages and safe repatriation after sign-off. In a separate advisory for Indian flagged vessels, the DG shipping said all ships operating in or near the region are urged to conduct comprehensive shore security drills encompassing pertinent security scenarios, including loitering munitions, drone boat and similar threats.
Indian-flagged vessels safe for now, all eyes on war escalation
India is watching the US-Iran-Israel conflict closely. Officials are concerned about potential maritime disruptions. Indian ships and seafarers are advised to be cautious in the Strait of Hormuz. There is no immediate threat to Indian vessels. Tensions are high after attacks on Iranian nuclear facilities. Electronic interference is affecting navigation in the Central Arabian Gulf.
Three Indian Coast Guard ships deployed to tackle oil container ship incident off Kochi coast, says Sonowal
Following the capsizing of cargo vessel MSC ELSA III near Kochi, the Indian Coast Guard has deployed three capital ships, ICG Samarth, ICG Saksham, and ICG Vikram, to the site. These ships are part of a coordinated effort to prevent marine pollution and aid in the salvage of hazardous materials, including 13 IMDG containers.
Shipping authority sounds warning bell
India elevates maritime security. The Directorate General of Shipping implements MARSEC Level-2. This heightened alert affects all Indian ports, terminals, shipyards, and flagged vessels. The move follows security concerns and regional tensions. Ports are now conducting stricter security checks. These include access controls and vessel monitoring. Cyber vigilance is also increasing. Blackout drills will test preparedness.
Taxpayers can now claim refund of IGST on ocean freight: Experts on SC judgement
Tax Connect Advisory Services Partner Vivek Jalan said this is a big relief for importers and GST taxpayers. "In fact those taxpayers who had already paid the GST may also seek a refund of the same now".
Cordelia Cruise passengers were fully vaccinated, had negative RT-PCR, says company
Besides, all guests who tested positive are all asymptomatic, the cruise liner said in a statement, while maintaining that Cordelia Cruise is “compliant with all regulations by DG Shipping and follows all COVID protocols.”
India-Norway Blue Economy model focuses on post-Covid economy recovery
Investing in the Blue Economy now can help countries out of the crisis, and make sure that the global community builds back better and greener.
PM Modi reviews preparedness to tackle cyclone Yaas
The India Meteorological Department (IMD) has said that the cyclone is expected to cross West Bengal and north Odisha coasts by May 26 evening with the wind speed ranging 155-165 kmph and gusting to 185 kmph.
A traffic jam in the Suez Canal may delay Indian exports by 4-5 days
A huge container ship is stuck on the Suez Canal and it could not have come at a worse time for Indian exporters.
Government reconstitutes National Shipping Board; to be headed by ex-DG Shipping Malini Shankar
The members of the Board include DG Shipping Amitabh Kumar, Joint Secretary Shipping Satinder Pal Singh, one representative each of the Indian Navy and Indian Coast Guard, not below the rank of Directors, National Union of Seafarers of India representative Abdulgani Serang, Maritime Union of India representative Amar Singh Thakur and National Ship Owners' Association representative Anil Devli.
Govt to form committee for development of minor ports
Minor ports could boost inland waterways and coastal shipping and "we will provide comprehensive plans for development", Shipping Minister Mansukh Mandaviya said.
Expert's answers on stock queries from ET readers
Please sell Opto Circuits — its balance sheet is in tremendous stress. It is quite tough to make significant profits with this kind of stress.
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