Some vessels carrying huge amounts of imported pulses to India have been stranded at various ports resulting in the worsening of the already severe crisis that has gripped the pulses market. Demand recession and untimely payments have further intensified the problems for the players in the pulses market.
According to the Pulses Importers Association, four vessels carrying a huge stock of over 56,000 tonne of imported pulses valued at over Rs 80 crore
MV Citiwave and MV Citibreeze have been held up at Colombo port since December-January. These ships together carry approximately 22,000 metric tonne of pulses valued at about Rs 32 crore. The association informs that all efforts are being made to protect the money paid by the Indian parties for the cargo.
Also Read
However, there seems to be an impasse on the issue and no positive development over the held-up cargo is in sight. Active negotiations are on and the modalities of getting the ships to depart from Colombo port are being worked out.
In another case, about 12,000 metric tonne of Burmese pulses valued at Rs 16 crore aboard MV Janice too is caught in a web. There are some conflicting reports on whether this vessel is in Mumbai port or has left the shores. The association claims that the shipowners are asking for demurrage charges from the charters and only after the receipt of the same would the ship get a berth. Negotiations are on in this case too to solve the vexed issue and have the cargo released to the importers, who are suffering huge losses due to the delay.
M V Jaipur, carrying about 9,000 metric tonne of pulses valued at about Rs 11 crore, is learnt to have arrived at the Mumbai port at around the third week of May and discharged some quantity of the cargo. It then declared `General Average' and is now waiting at Bombay ferry line at the inner anchorage at the Mumbai port. In this case too there's a dispute between the charters and the shipowners. The association is holding talks with the charters and the owners to find out a solution to the problem.
M V Great Power carrying 13,600 metric tonne valued at Rs 21 crore has been delayed by a month. The association informs that this vessel will arrive on or around June 10.
The association stated that the status of the delivery of the above vessels is being closely monitored. The association is ready to do everything possible to solve the matter and assist the trade. It says that there is no need for panic as these cargoes are duly insured.
The association mentioned that it has observed that payments are not being made by debtors for over two months beyond the due dates of the bills. This has affected the market adversely.