Pharma exporters brace for Rs 5,000-crore hit as US-Iran war drives up freight costs
NEW DELHI: A total stop to pharma shipments to West Asia this month alone can drain Rs 2,500–Rs 5,000 crore of export value, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) has warned, as freight rates
24 US states sue Trump over new 10% tariffs after Supreme Court blocks earlier duties
WASHINGTON D.C.: A group of US states said Thursday that they had filed a lawsuit against President Donald Trump‘s new tariffs on imports, imposed after the Supreme Court struck down his global duties last
Explosion reported off tanker near Kuwait, crew safe, UKMTO says
LONDON: A tanker at anchor off Kuwait reported seeing a large explosion on its port side and was taking on water, the United Kingdom Maritime Trade Operations (UKMTO) said. The master observed a small
Saudi Red Sea Authority Appoints Dr. Maryam Ali Ficociello as Chief Executive Officer
RIYADH: The Saudi Red Sea Authority (SRSA) on Friday announced the appointment of Dr. Maryam Ali Ficociello as Chief Executive Officer, effective March 22nd, 2026. Her appointment marks a new phase in the Authority’s
Global trade reroutes to Africa as Hormuz traffic plunges 90%
LONDON: Commercial shipping traffic through the Strait of Hormuz has dropped as much as 90% amid escalating conflicts in the Middle East, forcing global maritime trade to reroute around the Cape of Good Hope,
DG Shipping forms Quick Reaction Team to handle Persian Gulf crisis
MUMBAI: In the wake of the US-Israel joint strikes on Iran and the subsequent retaliation leading to wider ramifications in the Persian Gulf, the Directorate General of Shipping (DG-Shipping) has formed a 24×7 Quick Reaction Team
CMA CGM suspends Middle East Bookings, Implements Emergency Measures amid escalating Regional Tensions
MARSEILLE: Global shipping major CMA CGM has announced sweeping operational measures across the Middle East, including the immediate suspension of bookings to several regional ports and the implementation of emergency protocols for ongoing shipments. The move
Attack on oil tanker ‘Skylight’ highlights risks to Indian seafarers in Persian Gulf route
OMAN: Iran has attacked an oil tanker ‘Skylight’ passing through the Strait of Hormuz near the coast of Oman, as it retaliates with all its might to avenge the US and Israel’s assassination of