Trade Route

In dire straits, again: Iran attacks deepen Hormuz shipping crisis

On Monday night, Iran hit two oil tankers from the United Arab Emirates with cruise missiles, killing an Indian crew member

India-China border trade via Lipulekh Pass to resume after 6 years

The first batch of 26 Indian traders is expected to enter the Chinese territory of Tibet through the Lipulekh pass on June 26, marking the resumption of border trade after a six-year hiatus, according to administrative sources in Dharchula. Ashish Joshi, Trade Officer and Dharchula Sub-Divisional Magistrate (SDM), said that 26 trade passes have been issued, which include 17 traders and nine helpers. A customs office has also been opened at Gunji to facilitate the process. "We expect the first batch of Indian traders to reach Tibet on June 26, as they have already stored their goods in warehouses at villages near the Lipulekh pass," Joshi said. The administration has received applications from more than 103 traders and is currently planning to issue trade passes for a second batch of 25 traders shortly. To assist the traders, the administration has designated a spot near Nabhidhang for mules and horses to transport goods to the Lipulekh pass, which is located nearly 600 metres from

France, UK convene allies to plan Hormuz mission after conflict ends

Macron, Starmer call for 'full' reopening of Strait; Trump says Israel won't be bombing Lebanon

Iran says Strait of Hormuz open to all commercial vessels during ceasefire

The announcement's impact was almost immediately reflected in global crude prices, which crashed by almost 9%

Why little was done to develop an alternative to the Strait of Hormuz

The narrow passageway out of the Persian Gulf is both vital - serving as the only gateway to the rest of the world for huge amounts of oil and natural gas - and extremely vulnerable to attacks

Ships avoid Hormuz as Iran raises threats and conflict in West Asia spreads

The Strait of Hormuz is a crucial chokepoint for energy markets because a fifth of the world's seaborne oil and liquefied natural gas typically passes through each day

US strikes in Yemen: 53 killed, oil prices up, Houthi attacks continue

US vows continued military action to protect shipping routes, launches major strikes against Yemen's Houthi rebels as tensions escalate

Taking stock of B'desh: Trade recovers, but Indian firms tread cautiously

The concluding part of the series highlights stabilising trade ties with Dhaka, but payment delays and a complex bilateral environment remain major concerns

Global ocean freight market faces high costs, Red Sea conflict disruptions

The detour around Africa has increased both shipping costs and delivery times, exacerbating the challenges faced by global trade, which is still recovering from a host of geopolitical issues

Baltimore bridge collapse: Ship crew may leave US if they comply with probe

Crew members on the cargo ship Dali can head home as soon as Thursday under an agreement that allows lawyers to question them as part of investigations into the cause of the deadly collapse of Baltimore's Francis Scott Key Bridge. Attorneys had asked the judge Tuesday to prevent the roughly two dozen total crew members - all hailing from India or Sri Lanka - from leaving. Eight of the Dali's crew members were scheduled to return home, according to emails included in court filings. None of the crew members has been able to leave the U.S. since their ship lost power and crashed into one of the bridge's supporting columns on March 26. Under the agreement, which was confirmed by U.S. District Judge James K. Bredar during a hearing Thursday, the crew can return home but must be available for depositions. In the court filings, attorneys representing the City of Baltimore said the men should remain in the U.S. so they can be deposed in ongoing civil litigation to decide who is responsible

Timeline: 21-year-long effort by India to set up port in Chabahar

Monday's agreement is expected to finally realise efforts by India to gain a strategic foothold in the region

Indian cos explore logistics options amid Red Sea supply chain disruptions

Companies are exploring alternative logistics options, including finding different shipping routes to minimise supply chain disruptions as the Red Sea crisis enters its fourth month

Red Sea crisis: Implications of Houthi attacks on global trade, security

The Red Sea falls in an important transit route from Mediterranean Sea to Arabian Sea through Suez Canal

India Inc shows signs of the Red Sea conflict in Q3FY24 performance

Capital goods and engineering companies - Bharat Electronics, TD Power Systems and KEC International, all have noted some operational strain owing to Red Sea woes

Inter-ministerial meeting next week to discuss ongoing Red Sea crisis

The development comes in the backdrop of the Red Sea crisis impacting global trade

Commerce department takes stock as ongoing Red Sea crisis intensifies

About 15 per cent of world shipping traffic transits via the Suez Canal, the shortest shipping route between Europe and Asia

No damage reported after latest Houthi attack in Red Sea, says US

Multiple commercial ships in the area reported the impact of the missiles in surrounding waters, CENTCOM added

Red Sea chaos has shippers bracing for weeks without key trade route

So shippers are sending vessels the long way around Africa, adding $1 million in costs - and seven to 10 days - to each voyage. Oil prices are creeping higher

Iran, Syria to launch joint bank to facilitate bilateral trade ties

This plan is in the final stage which will resolve problems of money transfer between Iran and Syria

First vegetable shipment from Varanasi flagged off to Dubai via sea route

FPOs have been engaged to ensure supply of quality produce from the region, the release said