Union Minister for Shipping Sarbananda Sonowal has asked the country’s maritime regulatory body to ensure transparency in port operations and clamp down on any “profiteering” by handlers and agencies so that ships do not face unwarranted charges in the wake of the ongoing Strait of Hormuz crisis.
The instructions were issued to the Shipping Directorate during a review last week, which assessed maritime movement and operations to ensure the smooth passage of shipments and supplies.
Sonowal said the government has taken coordinated measures to “rapidly stabilize” port operations with minimal impact on trade after the initial backlog due to sudden disruptions due to the West Asian War.
“Real-time monitoring and quick interventions have made port operations seamless and removed all backlogs efficiently so that trade and port operations remain resilient,” Sonowal said.
The maritime regulator has been asked to ensure that all measures taken to mitigate the impact of supply disruptions, including waivers of certain rents and concessions on refrigeration charges (refrigeration of cryogenic vessels) are transferred to the ships, according to the minister.
The federal minister said: “This crisis must not become an opportunity for profiteering. All accusations must be transparent and documented.”
The war in West Asia has cut off global flows of crude oil and liquefied natural gas, causing prices to rise and sparking market volatility. Sonowal said the government’s priority is to maintain continuity of operations, and protect the interests of exporters, importers and logistics stakeholders.
India, the third largest economy in Asia, imports nearly 90% of its crude oil, half of its liquefied natural gas needs, and two-thirds of its liquefied petroleum gas needs, most of which flows from the Gulf countries and passes through the Strait of Hormuz, which Iran has effectively closed.
