UNCTAD : Red Sea conflict adds insult to global trade’s injuries
LONDON : UNCTAD has raised profound concerns over escalating disruptions to global trade. The Intergovernmental Body noted that recent attacks on ships in the Red Sea, combined with geopolitical tensions affecting shipping in the Black
Box lines launch Red Sea services despite Houthi risks
SINGAPORE : Mainline operators which are still offering Red Sea services are configuring their routes to transit the troubled region. Hapag-Lloyd has launched an ad hoc Jeddah Express (JDX) service calling at Tanger Med,
Container freight rates out of India continue to soar amid Red Sea crisis
MUMBAI : The boost in container freight rates seen on trades out of India as a consequence of the Red Sea crisis has accelerated in recent weeks, according to the latest market analysis. On
Sri Lanka boosts Colombo Port efficiency to address Red Sea emergency
COLOMBO : The Sri Lankan government on Monday said it is intensifying efforts to enhance operational efficiency at the Colombo Port to meet the escalating demand for container cargo operations in response to the
We may see Russian icebreakers built in Indian shipyards : Sarbananda Sonowal
CHENNAI : “We may see Russian icebreakers being built at Indian shipyards. These are encouraging possibilities of India-Russia Maritime Partnership,” Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal said after inaugurating the
Xeneta forecasts freight rates to rise further in February amid Red Sea Crisis
OSLO : Early indications suggest ocean freight shipping rates are set to increase further in early February amid the ongoing Red Sea crisis, according to data released by Xeneta, a leading ocean and air
Container rate surge slows as Chinese New Year approaches
SINGAPORE : Container rate levels are seeing the expected levelling out prior to Chinese New Year as the initial shock of the Red Sea crisis wanes and new vessels are deployed to meet the
Red Sea crisis likely to dent India’s growth forecast, says BMI a unit of Fitch Group
NEW YORK : Amid rising hostilities in the Red Sea due to Houthi attacks, Fitch Group said South Asian economies would be most affected. They will experience the largest relative increase in maritime trade