Blockage Of Suez Canal

The plan has been formulated by the Logistics Division of the Department of Commerce.
Sheena

Updated: Mar 29, 2021 09:57:20 am

29 March 2021 Current Affairs:The Department of Commerce has formulated a Four Point Plan to solve the blocking problem of the Suez Canal.

Highlights:
♦ A four-point plan was developed to deal with the situation caused by the blockage of the Suez Canal.
♦ The plan has been formulated by the Logistics Division of the Department of Commerce.
The plan includes:
Priority of cargo: The Federation of Indian Export Organizations (FIEO), MPEDA and APEDA will jointly determine the priority of cargo, especially perishable cargo, and cooperate with the shipping company.
Freight Rates: The Container Shipping Lines Association (CSLA) guarantees that it will comply with the existing contract freight rates. The shipping company has been asked to maintain stable freight rates during the crisis.
Port consultation: After the blockade is over, some clustering is expected, especially in JNPT, Mundra and Hazra ports. The Ministry of Ports, Shipping and Waterways pledged to issue consultations to these ports to expedite arrangements and ensure effective processing during the upcoming peak period.
Rerouting decision: Through CSLA, shipping companies are advised to explore options for rerouting ships through the Cape of Good Hope.
 
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