Maruti Suzuki may see some increase in costs due to the rerouting of vessels amid the ongoing Red Sea crisis, according to a senior company official. The auto major, which exported around 2.7 lakh cars last calendar year, however, noted that it does not expect the issue to have a very big impact on the … Read more
Muonio: The situation in the Red Sea is creating supply chain issues for German luxury carmaker Audi, impacting car deliveries to customers in India in the first quarter but recovery is expected in the coming months, according to a senior company official. With electrification on its primary agenda, the company is also evaluating the possibility … Read more
A ship travelling through the southern Red Sea was attacked by a suspected Yemen Houthi rebel drone early Tuesday, authorities said, the latest assault in their campaign targeting vessels over Israel’s war on Hamas in the Gaza Strip. The attack happened west of Hodeida, Yemen, and the projectile caused “slight damage” to the vessel’s windows … Read more
Global air freight rates have climbed for the first time in seven weeks ahead of Asia’s lunar new year and as attacks on Red Sea shipping prompt companies to secure costlier air cargo space. The Baltic Air Freight Index, which shows general cargo weekly transactional rates across a number of routes, rose 6.4% in the … Read more
Jaishankar also said that both India and Iran are concerned about recent events in West Asia and emphasise the importance of preventing further escalation of violence and hostilities in the region. Tehran: External Affairs Minister S Jaishankar on Monday conveyed India’s concerns about the increasing pirate and militia attacks on the cargo ships in the … Read more
S Jaishankar will hold talks with his Iranian counterpart Hossein Amir-Abdollahian on several key issues, including the current situation unfolding in the Red Sea. External Affairs Minister S Jaishankar meets Iran Foreign Minister Hossein Amir-Abdollahian on sidelines of Friends of BRICS gathering in Cape Town. (File Photo: ANI) New Delhi: External Affairs Minister S Jaishankar … Read more
The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted most of the trade normally flowing through the crucial maritime artery for consumer goods and energy supplies, a shift that’s delaying shipments and raising transport costs. The impact struck home Friday when electric car maker Tesla said it had … Read more
Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the U.S., Iranian state media reported, a move likely to stoke regional tensions. The seizure of the Marshall Islands-flagged St Nikolas coincides with weeks of attacks by Yemen’s … Read more
