FIEO: Small Ships to West Asia Increase Apr 15 as Freight Rates Soar 300%

• FIEO announces more small vessels (NVOCCs) between India and Gulf countries from April 15.
• Move aims to clear consignments as West Asia crisis caused 300% jump in sea freight rates.
• Exporters face additional surcharges (USD 1,500-4,000) and increased air fares due to the crisis.
• RBI meeting held to address delayed payments, interest subvention, and penal interest issues for exporters.
• Exporters seek government advisory for force majeure status to avoid contractual penalties.