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Indian exporters are navigating treacherous waters as shipping companies slap exorbitant surcharges on perishable goods. Even shipments that arrived at ports prior to the recent upheaval are not spared from these added costs. Furthermore, shipping lines have halted operations for consignments bound for West Asia, intensifying the crisis.
India is in discussions with the United States. The talks focus on a proposed insurance plan for oil tankers. This plan aims to secure passage through the Strait of Hormuz. The US is offering this cover to ensure trade flow in the Gulf. India’s crude oil imports are significantly impacted by disruptions in this vital […]
India has launched a pioneering initiative by laying foundation stones for four river lighthouses along the Brahmaputra River. This marks the first time such infrastructure will be built on an inland waterway. The project aims to boost safe 24×7 navigation and support growing cargo and passenger traffic.
Exxon Mobil is sending at least 300,000 barrels of gasoline from the U.S. Gulf Coast to Australia. This is the first such shipment by the oil major. The move comes as shipping in the Strait of Hormuz is severely disrupted. Asian refiners face crude supply shortages. This unprecedented route highlights global trade impacts.
Indian exporters are bringing back nearly half of their stranded containers from ports. This move aims to avoid hefty demurrage and detention charges caused by the West Asia conflict. Perishable goods like fruits, vegetables, and pharmaceuticals are prioritized for domestic disposal.
India’s vital gems and jewellery trade faces significant disruption. The ongoing conflict in West Asia has halted exports and imports of rough diamonds. Dubai, a key trading hub, has suspended numerous flights. This has severely impacted the movement of goods and essential raw materials. Industry officials report a complete standstill in trade with the region.