All India Transporters' Welfare Association invokes force majeure on long-term freight contracts
Change
All India Transporters' Welfare Association invoked force majeure and advised customers to hold long-term freight contracts in abeyance until April 30, 2026, while shifting shipments to mutually agreed spot-market rates.
Why it matters
Supply-chain buyers can no longer rely on fixed, long-duration freight rates for affected routes and must accept renegotiated or spot pricing to keep shipments moving. Procurement and payments teams face increased operational risk and may need to clear outstanding freight dues to avoid service interruptions.
Implications
- • Manufacturers' procurement teams and large shippers' logistics managers must renegotiate freight terms to accept spot-market rates for affected lanes or risk scheduled shipments being paused.
- • Importers' and exporters' accounts payable teams must clear overdue freight invoices immediately or carriers may refuse further consignments.
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Source
Topics
Trade & Tariffs Economy Supply Chain & Logistics Oil & Gas Financial Services