Key Points
CHENNAI: A container crisis is looming in the Red Sea, thanks to geo-political issues, which has the potential to disrupt India's. exports. to Africa and Latin America...
shipping freight rates. are expected to double on some routes, with exports of..
A report by Crisil said, players operating in agricultural commodities and marine foods could see "significant impact due to the perishable nature of their goods and/or lean margin profiles, which limit their ability to absorb the risks from rising freight cost"..
"The Red sea imbroglio has caused delays of around three weeks to Latin America and parts of Africa and freight rates have doubled to many destinations," he said, adding, December-January shipping availability had some impact..
"Alternative routes have been put in place and ordering levels of channel partners adjusted to take note of longer shipping time," he said.. "Inflation is beginning to settle down but (revival to peak levels) may be delayed due to Red Sea container availability," said KN Radhakrishnan, CEO TVS Motor..
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28, Jan, 24The ongoing crisis around the Red Sea shipping route, resulting from Houthi attacks on commercial vessels, may impact various industries in India. The Red Sea route via the Suez Canal accounts for 50% of the country's exports and 30% of imports. Sectors like agricultural commodities and marine foods, due to perishable goods and lean margins, could see significant impacts.
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