Freight rates from Asia have spiked by 53 per cent in a month depending on the route plus container shipping giants and oil super major British Petroleum having halted transit via the Red Sea-Suez Canal route after the attacks, the latest Freighters data said. The disruption assumes significance as Bab-el-Mandeb Strait, which connects the Mediterranean […]
After a long streak of declining trends, container freight rates on major trades out of India have begun to rise amid carrier routing disruptions through the Suez Canal, according to the latest market analysis. On the westbound India-Europe trade, average short-term contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to […]
Explosions in the Red Sea off the coast of Yemen were reported on Tuesday after sightings of unmanned aircraft and missiles in two separate incidents, a British maritime authority said. Two unmanned aircraft were observed before two explosions occurred 5 nautical miles from a vessel located 50 nautical miles west of Hodeidah on Yemen’s west […]
The government has taken the recent drone attack on a ship in the Arabian Sea very seriously, and, whoever carried out the strike will be tracked down and dealt with, Defence Minister Rajnath Singh said in Mumbai on Tuesday. “Nowadays turbulence in the sea has increased a lot. India’s growing economic and strategic power has […]
Indian exporters are staring at a surge 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 in the Red Sea. The alternate route around the Cape of Good Hope could increase shipping time between Mundra and Rotterdam by […]
in International Shipping News 11/12/2023 Container lines may need to hike freight rates by up to $450/TEU in deep sea trade to cover additional expenses arising from decarbonizing their maritime operations with low-carbon fuels, according to a study by consultancy UMAS published Dec. 7. With pressure from regulators and some eco-conscious customers, a […]
The newly set up cooperative export body NCEL has got permission to export 14,92,800 tonnes of non-Basmati rice to 16 countries and 50,000 tonnes of sugar to two countries, Cooperation Minister Amit Shah said on Wednesday in the Rajya Sabha. The National Cooperative Exports Ltd (NCEL) was registered in January this year under the […]
DP World initiates open access sourcing of green power at Nhava Sheva Terminals Accelerated electrification and green energy transition contributes to its global goal of net zero emissions by 2050 India, 06 December 2023: DP World has announced a new sustainability target in India, aiming for at least 60% of the energy required at its […]
Ships with links to Israel are diverting in greater numbers from the Red and Arabian Seas following a series of attacks over the past 11 days by Houthis, Iranians and Somalis. Danish liner giant Maersk became the latest big name to announce that a pair of its ships on charter – Lisa and Maersk Pagani – will be diverted […]
Far from removing a so-called cabotage rule to permit foreign flag ships to carry all types of cargo on local routes to boost coastal shipping as proposed earlier, foreign shipping companies will find it extremely tough to run India-centric cargo business under Prime Minister Narendra Modi’s Maritime Amrit Kaal Vision 2047. The Vision document calls […]