Some Indian ports have declared force majeure after the government announced a 21-day nationwide lockdown to prevent the coronavirus from spreading further. Adani Ports, which operates ten ports in India, issued a notification saying that operations would continue despite the force majeure. However, it would not be responsible for any delays.
The government categorizes port service as essential and allows port authorities to continue operation at minimal rates. However, the federal shipping ministry also allows ports to use the COVID-19 pandemic as valid reasons to invoke force majeure.
A source with an Indian refiner said that the force majeure could delay the discharge of crude oil carriers. Traders are also confused about which products can continue to flow in and out of Asia’s third-largest economy. Meanwhile, Indian LNG importers such as Gail, Petronet and GSPC all invoked force majeure on some prompt cargoes.
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Published on March 26, 2020 5:31 PM (GMT+8)Last Updated on March 26, 2020 5:31 PM (GMT+8)
