Some Indian ports have declared Force Majeure today. The largest economy in Asia has committed to a 21-day deadlock in public life to limit the spread of the corona virus.
The national trade minister has published a letter that allows port operators to declare force majeure. Force majeure exists when an event causing damage occurs from outside, i.e. it is not due to the nature of the endangered object and the event can neither be averted nor made harmless by the extremely reasonable care.
For example, if too many port operators in India declare force majeure, the discharge of oil tankers could be hindered. That is why the government in New Delhi wants to ensure that some ports remain operational. The ports are now classified according to whether they are essential for the continued existence of the economic cycle. The economy would endure 21 days of standstill. But if it takes longer, there are big problems.
Ports owned by the Indian government have not yet declared Force Majeurs.However, there are now reports that activity in the ports of India is slowing.
Source
HANSA Terminhandel
