Indian exporters stare at freight cost hikes as ships avoid Suez Canal
MUMBAI : Indian exporters are staring at a rise in shipping costs as freight lines are forced to avoid the Suez Canal and take a longer route around Africa to reach the West following tensions
Harim takeover of debt-ridden HMM draws concerns
SEOUL : Harim Group’s consortium was named as the preferred bidder for debt-ridden container ship company HMM, leaving concerns about how it would fund the acquisition worth 6.4 trillion won ($4.9 billion), industry sources
Red Sea shipping pause : Industry sees 30% rise in costs, 2-week delay
NEW DELHI : Industry is bracing for a 30% rise in freight and insurance costs, and delays of around 15 days for consignments to reach Europe, with global shipping majors avoiding the Red Sea and Suez Canal.
With no service provider, Kerala-UAE passenger ship link in choppy waters
KOZHIKODE : The Kerala Maritime Board’s (KMB) proposal to launch the Kerala-Dubai passenger ship service from the second week of January has hit rough waters with no suitable service provider in sight. Though the
Hijacked tanker proceeds to Mogadishu, INS Kochi monitors the Malta vessel
NEW DELHI : With Iran-backed Shia Houthi militia coming out in support of Hamas terrorists in Gaza and randomly targeting commercial shipping in the Red Sea and Somalian Pirates playing havoc off the Gulf
Cargo handling capacity of major ports up from 1560.61 to 1617.39 MTPA in FY23
NEW DELHI : The cargo handling capacity of major ports in India has gone up from 1560.61 MTPA in FY21 to 1617.39 MTPA in FY23, the government data revealed recently. The cargo handling capacity
Delay in Sagarmala projects due to local agitation : Sarbananda Sonowal
NEW DELHI : The reasons for delay in implementing projects under the Sagarmala Programme is mainly due to delay in land acquisition, statutory clearances, local agitation, and change in scope, Union Minister for Ports,
Ship building and repair clusters will be developed in coastal cities : Sonowal
NEW DELHI : Speaking at the Deloitte India Government Summit 2023, MoPSW Shri Sarbananda Sonowal said the India Middle East Europe Economic Corridor (IMEEC) plan will encompass building next generation mega ports in India.