New Delhi: Commerce and Industry Minister Piyush Goyal on Thursday said rice exports have been impacted by the problems in the Red Sea, though a clear picture will emerge after the December exports data is known. The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to … Read more
KOLKATA: Exports of basmati rice have fallen due to militant attacks against merchant ships in the Red Sea, leading to 5-10% fall in basmati prices in the domestic market, exporters said. Leading shipping lines’ decision to avoid the Suez Canal route amid Houthi attacks has also impacted sunflower oil imports from Russia and Ukraine. Sunflower … Read more
DUBAI: 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 … Read more
Commercial vessels are now able to safely pass through the Red Sea with the help of a new security initiative, the world’s largest shipping firm has announced. Maersk said in a press release Sunday that it has received confirmation that U.S.-led Operation Prosperity Guardian (OPG) has been set up and deployed, allowing commerce to safely … Read more
New Delhi: India’s exports of basmati rice to Egypt and European countries may get hit if the conflict in the Red Sea doesn’t abate and the country may have to take a longer route around Africa to ship the commodity which can raise costs by 15-20%, an official said Thursday. Moreover, overall exports face a … Read more
The Iran-aligned Houthis of Yemen are playing an escalating role in the conflict in the Middle East, attacking shipping in the Red Sea and firing drones and missiles at Israel in a campaign they say aims to support Palestinians in the Gaza war. U.S. Defense Secretary Lloyd Austin on Tuesday announced the creation of a multinational … Read more
