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Iran fired on three ships in the Strait of Hormuz and seized two of them on Wednesday, intensifying its assault on shipping in the key waterway. The attacks came a day after US President Donald Trump extended a ceasefire while maintaining an American blockade of Iranian ports. The standoff between the US and Iran has effectively choked off nearly all exports through the strait - where 20% of the world's traded oil passes in peacetime - with no end in sight. Iranian media said the paramilitary Revolutionary Guard was bringing the two ships to Iran, marking a further escalation, though the White House said the seizures didn't violate ceasefire terms. The conflict has already sent gas prices skyrocketing far beyond the region and raised the cost of food and a wide array of other products. The price of Brent crude oil, the international standard, nosed over $100 per barrel, marking a 35% increase from prewar levels, but stock markets still appear to be shrugging it off. The European Uni
India's ports are transforming from cargo gateways into integrated logistics and industrial hubs, supported by publicprivate partnerships and global best practices, Secretary in the Ministry of Ports, Shipping and Waterways, Vijay Kumar, said on Wednesday. Addressing around 200 investors and industry stakeholders during a round-table held at the Singapore Maritime Week (SMW) 2026 here, Kumar pointed out, "India is steadily - and decisively - moving in the direction" to be in the best position to sustain growth, attract investment, and integrate into global value chains. He shared the growth reported by Indian ports, where capacity has been doubled, and the next frontier is to have world-class efficiency and transshipment. Cargo handling capacity has doubled since 201314, from 1,400 MTPA to 2,771 million tonnes per annum (MTPA), with a target of 3,500 MTPA by 2030 and 10,000 MTPA by 2047. In FY 202526, India's major ports handled over 915 million tonnes - the highest ever - registeri
With exporters facing a surge in sea freight of up to 300 per cent due to the West Asia crisis, it has been decided to increase the number of small vessels operating between India and Gulf countries from April 15 to help clear consignments, FIEO director general Ajay Sahai said on Monday. In a meeting with the DG (Shipping), exporters flagged issues they are facing due to the crisis, triggered by the US and Israel joint attack on Iran, Sahai said. About 400 exporters participated in the meeting, as the crisis is impacting the movement of containers. "It has been decided to increase the number of Non-Vessel Operating Common Carriers (NVOCCs) from April 15 between India and the Middle East countries," the director general of the Federation of Indian Export Organisations (FIEO) said. He said that the war has led to a significant jump in freight due to an additional contingency surcharge being imposed by foreign shippers. "The surcharge ranges between USD 1,500 and USD 4,000. There is
At least three Indian seafarers on board foreign-flagged vessels were killed and one was injured in the Middle East region, the Directorate General of Shipping said on Tuesday as it issued an advisory for maritime operators to assess voyage-specific risks, amid escalated military actions involving the US, Israel and Iran that threaten disruptions of major trade routes. "There have been four reported incidents involving Indian seafarers in the region, resulting in three casualties and one injured seafarer, all of whom were serving on board foreign-flagged vessels," the Directorate General of Shipping said. On Tuesday, American and Israeli airstrikes continued to pound Iran since killing its Supreme Leader, Ayatollah Ali Khamenei, on Saturday. Tehran and its allies have hit back against Israel, neighbouring Gulf states, and targets critical to the world's production of oil and natural gas. President Donald Trump on Monday said the US has "the capability to go far longer" than its ...
Bulgarian authorities confirmed on Tuesday they have arrested a Russian ship owner wanted in Lebanon whose vessel is linked to a cargo of ammonium nitrate at the centre of the massive 2020 port explosion in Beirut. Igor Grechushkin, 48, was arrested at Sofia International Airport on September 6 upon arriving from the Cypriot city of Paphos, according to Zdravko Samuilov, head of the border police at the airport in the Bulgarian capital. Grechushkin, who holds a dual Russian-Cypriot citizenship, did not resist arrest, cooperated, and nothing suspicious was found in his luggage, the police chief said. The arrest, which was first reported by Lebanese officials on Tuesday, was based on an Interpol red notice. Following a court order, Grechushkin was placed in detention for a maximum of 40 days, Samuilov said. Bulgaria has also requested the necessary documents for Grechushkin before he can be extradited to Lebanon. A Lebanese investigative judge issued two arrest warrants through Inter
Japanese shipping major Mitsui OSK Liners (MOL), the world's second largest company in terms of fleet size, is in talks with the Indian government to build ships in the country to become part of India's maritime growth story, a top official said on Tuesday. MOL (India) South Asia Middle East Region Executive Officer Capt Anand Jayaraman said MOL (India) has re-registered 13 ships in India (10 under MOL India and 3 under IFSC) out of its total fleet of 935 vessels. "We are a shipowner company...India is where growth is, and the country has also announced a subsidy scheme for the shipping sector," he said in a media briefing. According to Jayaraman, the 141-year-old company is currently the 4th largest shipowner in India, and it aspires to become 2nd largest shipowner in India. "Aligning with the government of India's push, we are discussing with the government to build ships in India...Shipbuilding is a high capital-intensive business. We will work with shipyards," he said. Jayara
A bill to expand the eligibility criteria for ownership of merchant shipping vessels and provide for investigation and enquiries on marine casualties was passed by the Lok Sabha on Wednesday, after a brief discussion as the Opposition continued with its protests seeking discussion on poll roll revision in Bihar. As soon as the Bill was passed, the House proceedings were adjourned for the day amid noisy protests by the Opposition members. Union Minister Sarbnanda Sonowal made opening remarks following which two BJP members Captain Brijesh Chowta and Mukeshkumar Chandrakant Dalal spoke on the Bill, amid sloganeering by the Opposition over the Bihar poll roll issue. The Bill was later passed by a voice vote. This is the second Bill to be passed by the Lok Sabha in the ongoing Monsoon session, which has seen repeated disruptions by the Opposition on various issues. The Lok Sabha on Tuesday passed 'The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the