Red Sea-Suez crisis quadruples Asia-Europe & Med rates
About 90% of all the containerized fleet that would have ideally taken the Suez Canal have now re-routed via the Cape of Good Hope. And the impact? Rates quadrupling on the Asia- Europe and...
View ArticleSome ro-ro operators carry on sailing, even as Red Sea conflict heats up
Some ro-ro operators are chancing their vessels transiting the Red Sea, just as the crisis deepens with the UK, US and others launching airstrikes against Houthi targets in Yemen. News broke late last...
View ArticleIndia explores measures to mitigate Red Sea crisis impact on export trade
Ιndian government and shipping industry stakeholders have realised the urgency to deal with growing trade challenges from the Red Sea shipping crisis, as market rating forecasters generally expected...
View ArticleRussia to renew Chennai-Vladivostok route; officials to visit Chennai
Russian Deputy Far East and Arctic Development Minister Anatoly Bobrakov on Thursday emphasised that Russia is planning to renew the Chennai-Vladivostok route, stressing that they are also planning to...
View ArticlePort of Mombasa attracts new global shipping line
The Port of Mombasa is attracting global shipping lines as a result of its efficiency with a leading Korean shipping line docking at the port on its first voyage in Africa. Korea Marine Transport...
View ArticleIndia, US discuss ways to boost trade, investments ties at TPF meet
India and the US on Friday discussed ways to further boost trade and investment ties between the two countries during the Trade Policy Forum (TPF) meet in New Delhi. The 14th TPF meet was co-chaired by...
View ArticleX-Press Feeders secures sustainability-linked loan
X-Press Feeders (XPF) has signed a sustainability-linked loan agreement with investors including the Asian Infrastructure Investment Bank (AIIB). The loan is expected to support X-Press Feeders in its...
View ArticleCOSCO and Fratelli Cosulich JV buys Italian logistics firm Trasgo
COSCOS, the joint venture between China’s COSCO Shipping and Italy’s Fratelli Cosulich, has acquired the entire capital of the Novara-based trucking and logistics player Trasgo. Established in 1981,...
View ArticleCordelia to offer international cruises to UAE and Sri Lanka
After success in the domestic waters, Cordelia is looking at expanding internationally. It has received permission to start operations to Sri Lanka and UAE, among others. First cruises are scheduled...
View ArticleMore trouble for global shipping sector as Panama Canal is drying up
With the Red Sea crisis paralysing the global shipping industry, there is more trouble for the sector due to the severe shortage of water in the Panama Canal. Danish shipping major Maersk will bypass...
View ArticleRussia’s Northern Sea Route emerges as key connectivity initiative in...
The cargo shipped along the Northern Sea Route (NSR) in 2023 totaled 36.254 million tons which is more than 250 thousand tons above the target set in the “Development of the Northern Sea Route” federal...
View ArticleBoeing opens warehousing facility in UP for parts supply
US aircraft maker Boeing on Monday announced the opening of a warehousing facility at Khurja in Uttar Pradesh for parts supply. The 36,000-sq ft India Distribution Centre, being operated in...
View ArticleCommerce ministry calls stakeholders’ meet on WTO issues on January 20
The commerce ministry has called a meeting of all stakeholders, including government officials and trade sector experts, on January 20 to discuss issues which are likely to figure in the WTO meeting,...
View ArticleIndia’s merchandise trade deficit narrowed to $19.8 billion in Dec, exports...
India’s merchandise trade deficit narrowed to $19.8 billion in December 2023 compared to $23.14 billion in the same month last year, the commerce ministry said on January 15. After contracting for the...
View ArticlePort shares plan with GSL for ship repairs facility
Mormugao Port Authority (MPA) has shared a financial proposal with Goa Shipyard Limited (GSL) for the leasing of berth no. 9 where GSL intends to set up a ship repair and refit facility. GSL had...
View ArticleIndoSpace signs ₹2000 crore MoU with Tamil Nadu
IndoSpace has signed a Memorandum of Understanding (MoU) valued at ₹2000 crore with the Tamil Nadu Government during the Tamil Nadu Global Investors Meet 2024. The announcement was made under the...
View ArticlePM Modi to inaugurate ‘New Dry Dock’ and ‘International Ship Repair Facility’...
Prime Minister Narendra Modi in his visit to Andhra Pradesh and Kerala on 16th-17th January 2024 is going to inaugurate projects worth more than Rs 4,000 crore in Kochi, in a step to transform India’s...
View ArticleExim operators get relief from VOC port
Having weathered one of the worst floods in the history of Tuticorin and losses running into crores, Export and Import (Exim) operators got relief after V O Chidambaranar (VOC) port authorities...
View ArticleShipping Corp shakes off divestment blues; to buy five ships for some Rs2,000...
State-run Shipping Corporation of India Ltd (SCI) has initiated steps to buy five ships, all second hand of various types, with an investment of some Rs2,000 crores, in an indication that the...
View ArticleCochin Shipyard set to take a giant leap on global stage with new dry dock...
India’s shipbuilding and ship repair capabilities will take a quantum leap with state-run Cochin Shipyard Ltd, India’s biggest shipbuilder by dock capacity, opening a new dry dock and an international...
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