The Red Sea crisis is likely to impact the margins of the auto component industry over the next few quarters amid higher container rates and shipping time, credit ratings agency ICRA said on Thursday, projecting a moderate growth for the industry this fiscal. Close to two-thirds of the auto component exports are made to North … Read more
Maersk noted that while the Peak Season Surcharge was reduced recently, it has been increased again to help cover the additional costs due to the changes. Image for representation purposes only. File | Photo Credit: C.V. Subrahmanyam Global shipping major Maersk estimates an industry wide capacity loss of 15-20% in the Far East to North … Read more
The Red Sea crisis has become a pressing concern largely due to its disruption of global trade. However, it also has far-reaching environmental impacts as the waters become a battleground. The clashes are adding to other environmental stressors that pose potentially irreversible damage to ocean health. The path for Africa is clear – it must … Read more
The escalating crisis in the Red Sea region and the Panama Canal drought create significant international shipping and logistics challenges. For instance, the Panama Canal drought causes severe shipping delays from Asia to the U.S. East Coast, particularly for heavy goods. Carriers are rerouting from trans-Pacific to trans-Atlantic via the Suez Canal, intensified by Red … Read more
