Tanker and dry bulk shipping freight market for inbound and outbound trade from India has become come expensive due to the lingering COVID-19 pandemic.
India is one of the world’s largest importers of coal, vegetable oils and crude. It exports substantial volumes of refined products and dry bulk commodities such as iron ore, pellets, steel and salt.
Many countries are insisting that ships will be allowed to berth at their ports only if they have not called any Indian ports over the previous two to four weeks. This has resulted in many shipowners seeking a freight premium for loading or discharging cargoes in India. It is a double-edged sword – causing delays in delivery of cargoes as well as crew changes and thereby increasing the transportation cost. Some ports are also tweaking their quarantine rules too frequently and adding to the confusion.
S&P Global Platts Senior Managing Editor for Asia Pacific & Freight Pradeep Rajan, Senior Editor Sameer Mohindru and Associate Editor Isaac Eio examine present challenges being faced by the freight market for trade from and out of India.
Source: SP Global