Latest news with #FFFAI
Economic Times
37 minutes ago
- Business
- Economic Times
Sea and air freight costs likely to rise
Global shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good Hope. Tired of too many ads? Remove Ads Escalation of tensions between Iran and Israel is likely to adversely impact India's export-import (EXIM) trade due to higher transport and insurance costs."The alternate shipping route through Cape of Good Hope is likely to impact the schedules for Indian exporters," Dushyant Mulani, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) told ET while adding marine insurance costs may rise as to Mulani, shipping and air freight costs may rise."We will come to know about the exact situation in the next few days," he shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good to Mulani, the Indian export industry may need additional support to mitigate higher transport costs.
Time of India
2 days ago
- Business
- Time of India
Sea and air freight costs likely to rise
Escalation of tensions between Iran and Israel is likely to adversely impact India's export-import (EXIM) trade due to higher transport and insurance costs. "The alternate shipping route through Cape of Good Hope is likely to impact the schedules for Indian exporters," Dushyant Mulani, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) told ET while adding marine insurance costs may rise as well. According to Mulani, shipping and air freight costs may rise. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo "We will come to know about the exact situation in the next few days," he said. Global shipping lines had started avoiding the West Asian region after the Israel-Gaza conflict escalation in October 2023. Attacks on commercial vessels in the Red Sea by Iran-backed Houthi militants virtually crippled trade through the Suez Canal. This led to major companies rerouting trade through the Cape of Good Hope. Live Events According to Mulani, the Indian export industry may need additional support to mitigate higher transport costs.
