INDIA · WORLD & POLITICS
India extends port-entry marine insurance for Russian P&I providers
Economic Times
20 Feb · 5:46 PM
Change
India’s Directorate General of Shipping granted a one-month interim extension allowing four Russian insurers and Sun UW MGA to provide protection and indemnity cover for ships calling at Indian ports until March 20, 2026.
Why it matters
The extension keeps Soglasie, UGORIA, SBERBANK Insurance, and ASTK Insurance eligible to issue P&I cover accepted for ships arriving at Indian ports, with the permission now running to March 20, 2026; Sun UW MGA received a similar interim extension. This matters for crude and other high-value cargo movements where port entry and contractual requirements depend on acceptable P&I coverage. Because these providers sit outside the International Group of P&I Clubs, the authorization functions as a gating item for vessels involved in Russian crude-linked trade flows. The one-month interim nature compresses certainty for scheduling, chartering, and cargo nomination decisions tied to India-bound port calls.
Implications
- • India port-call eligibility tied to these insurers remains time-limited to Mar 20, 2026
- • Monthly interim renewals keep counterparty and voyage documentation on short cycles
- • Non-IG P&I capacity remains available for Russia-linked crude shipments into India
- • Potential disruption risk if interim permissions lapse for specific insurers
Who is affected
- • Shipowners and operators calling at Indian ports with non-IG P&I cover
- • Crude oil traders and charterers using Russia-linked tanker supply chains
- • Indian port authorities and maritime compliance/documentation teams
- • Russian insurers and Sun UW MGA underwriting P&I for India-bound vessels
Source
Read original → Economic Times
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