Due to the conflict between Russia and Ukraine, the Shipping companies are facing problems. And Shipping activities in the northern black sea are closed and the Insurance cover has been withdrawn by the P&I. Besides, Containers bound for Ukraine and Russia are lying at different transhipment ports. The payments have been affected due to the blockage of SWIFT in Russia.
The Ukraine war has led to Congestion at neighbouring ports. Moreover, trade with Russia and CIS countries has been affected and Shipping lines are not accepting goods from Russian ports. This information was given by the Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal in a written reply to the Lok Sabha today.
“The government is taking steps to protect the Indian shipping companies from the adverse impact of this crisis and the meetings are taken at regular intervals with all stakeholders to review the situation. Moreover, Shipping lines have been requested to explore alternative routes for Commonwealth of Independent States (CIS) / Russian cargo. The EXIM Traders were informed that M/s ONE Shipping is carrying containers to Vladivostok,” the union minister informed the lower house.