Peace deal: Cautious Indian shipowners seek govt. help

Despite the announcement of a U.S.-Iran peace agreement, Indian shipowners remain cautious due to lingering uncertainty regarding its terms and conditions. The article highlights challenges faced by Indian shipping, including issues with the Bharat Maritime Insurance Pool (which has not been effective due to high rates and lack of trust), and the need for government facilitation to normalize operations. The Indian government has identified numerous vessels of Indian interest, including those carrying critical fertilizer and LNG supplies, and is considering naval escorts and other protective measures for their safe transit through strategic waterways like the Strait of Hormuz. The situation has led to a significant volume of stranded cargo at Indian ports, prompting the government to implement measures to reduce congestion and support the trade community.