India’s exports may take a $30 billion hit on Red Sea threats
NEW DELHI : India may see around $30 billion shaved off its total exports in the current fiscal year, as threats to cargo vessels in the Red Sea lead to a surge in container shipping rates and prompt exporters to
India-US shippers hit by three rounds of hefty rate hikes in January
MUMBAI : Indian shippers are getting flooded with general rate increase (GRI) and peak season surcharge (PSS) notices as container lines attempt to maximise pricing out of the troubled Red Sea waters. MSC has
New maritime route to increase trade competitiveness of Jordan, Egypt
CAIRO : The newly announced shipping route, dubbed the Arab Line for Maritime Transport, that links Egypt, Jordan, and Iraq, and launched recently by the Arab Bridge Maritime Company, continued to operate and facilitate
Red Sea Crisis: Costs have gone up, crisis may deepen, says official
NEW DELHI : Disruptions along the Red Sea trade route have begun pushing up shipping and insurance costs as shippers have begun taking longer routes fearing further attacks, a senior government official said Friday.
FMC granting ‘special permission authority’ for Red Sea diversion freight hikes
WASHINGTON : The hostilities in the Red Sea will likely be igniting other battles, albeit of a commercial rather than military nature, as container lines seek hefty rate increases and file urgent requests with
US invites India to join naval coalition in Red Sea
NEW DELHI : The US has invited India to join the multi-national naval coalition, Operation Prosperity Guardian, to counter threats posed by Yemen’s Houthi militants in the Red Sea, according to persons aware of
US and Allies issue ‘Final Warning’ to The Houthis over Red Sea Attacks
WASHINGTON : A strong warning has been issued to the Houthi rebels in Yemen by the United States and twelve of its allies, including Australia, Belgium, Bahrain, Canada, Denmark, Germany, Italy, Japan, New Zealand,
Houthis Warn Biden After Fresh Ship Attack; Ship ‘Attacked’ near Houthi Bastion in Red Sea
SANAA : Yemen’s Houthi militant group has issued a big warning to the United States. Houthis said the U.S. will be punished if it continues with reckless actions on behalf of Israel. The statement
