Latest news with #DushyantMulani
Economic Times
15-06-2025
- Business
- Economic Times
Sea and air freight costs likely to rise
Global shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good Hope. Tired of too many ads? Remove Ads Escalation of tensions between Iran and Israel is likely to adversely impact India's export-import (EXIM) trade due to higher transport and insurance costs."The alternate shipping route through Cape of Good Hope is likely to impact the schedules for Indian exporters," Dushyant Mulani, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) told ET while adding marine insurance costs may rise as to Mulani, shipping and air freight costs may rise."We will come to know about the exact situation in the next few days," he shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good to Mulani, the Indian export industry may need additional support to mitigate higher transport costs.
Time of India
13-06-2025
- Business
- Time of India
Sea and air freight costs likely to rise
Escalation of tensions between Iran and Israel is likely to adversely impact India's export-import (EXIM) trade due to higher transport and insurance costs. "The alternate shipping route through Cape of Good Hope is likely to impact the schedules for Indian exporters," Dushyant Mulani, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) told ET while adding marine insurance costs may rise as well. According to Mulani, shipping and air freight costs may rise. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo "We will come to know about the exact situation in the next few days," he said. Global shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good Hope. Live Events According to Mulani, the Indian export industry may need additional support to mitigate higher transport costs.
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Business Standard
09-05-2025
- Business
- Business Standard
Ports, vessels on heightened maritime security measures, blackout protocols
Indian ports and vessels have been ordered to enforce heightened maritime security measures and blackout protocols amid rising tensions and a maritime threat looming large in the Arabian Sea. 'In light of recent developments and growing concerns regarding potential threat to Indian ports, coast, terminals and vessels, to emphasise the necessity of implementing additional protective measures during period of heightened security risks, it is hereby directed that all ports, terminals and shipyards, shall ensure heightened maritime measures, including elevation to ISPS security Level 2 with immediate effect. All Indian-flagged vessels operating in and near to the Indian subcontinent, and neighbouring countries, are required to elevate security to Level 2 and implement the applicable security measures according to the ship security plan,' a notice to all maritime stakeholders by India's shipping regulator Directorate General of Shipping (DGS) said. The International Ship and Port Facility Security (ISPS) Level-2, among other measures, includes enhanced monitoring of access points, stricter access controls, increased frequency of security patrols, and potentially searches of people, baggage, and vehicles. Ports and terminals have also been asked to conduct blackout tests and unannounced security drills to test and reinforce preparedness. Chief Information Security Officers of all port facilities will review their IT security systems to prevent any threats of cyberattacks. The shipping regulator earlier banned all vessels from Pakistan from docking at Indian ports. Transporters are also bracing for disruption. 'It is very early to quantifiably assess the impact on shipments. Blackout protocols in border states have brought disruptions to logistics. Additionally, several port facilities on the western coast have also been involved for military use, potentially impacting movement of cargo from these ports. We're expecting more disruptions going forward, and it is possible that added costs in terms of war risk premiums on marine insurance will come about,' said Dushyant Mulani, chairman of Federation of Freight Forwarders Associations in India. The government expects commercial maritime operations to continue normally. 'At Level-2, there should be no impact on commercial vessel movement. We have not reached that situation – if ever there is such a situation, a Level-3 is enforced where movement is restricted,' a senior regulatory official said on condition of anonymity. To ensure commercial operations are not impacted, Union Shipping Minister Sarbananda Sonowal conducted a high-level review meeting on Friday with officials from ports and other stakeholder departments. 'Considering the prevailing situation, the union minister took stock of key maritime projects and directed the officials to ensure that the business remains as usual. Sonowal also reviewed measures to be taken to ensure smooth and normal movement of cargo operations,' a statement by the minister's office said. Indian ports have already responded to the call for elevated security measures. Kolkata's Syama Prasad Mookerjee Port Authority said, 'To ensure full operational readiness, all leave of employees, (including contractual staff) stand cancelled from 10th May to 14th May 2025. Additionally employees are required to remain at headquarters, even during the days of weekly off. Pilots and dock pilots will be on high alert and ready for emergency evacuation from KDS and HDC, if necessary.' On the digital front, cybersecurity is also being enhanced.
