Attacks by Houthi rebels are not stopping in the Red Sea, threat to world trade, freight transportation 600 percent more expensive

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the Red Sea The attack by Houthi rebels is not showing signs of stopping. On the other hand, after this crisis, world trade is also under threat. Rates of freight transportation by sea route have increased by 600 percent.

Missile attack on Malta flagged ship on Tuesday

A Malta-flagged ship in the Red Sea was attacked with a missile on Tuesday, damaging the ship. Greek officials gave this information. No group has immediately claimed responsibility for the attack, but suspicion has fallen on Yemen’s Houthi rebels. Greece’s Ministry of Shipping and Island Policy said the ship ‘Geographia’ was heading north towards the Suez Canal when it was attacked. The ministry said there was no cargo on the ship and it was damaged. Its crew includes 20 citizens of Ukraine, three citizens of Philippines and one citizen of Georgia.

Shipping rates increased by 600 percent due to Red Sea crisis, Indian shipping line necessary

the Red Sea Due to the crisis in India, sea freight rates have increased by 600 percent, which will cause loss to world trade. Indian exporters have expressed their apprehension that the government should start its own global-scale shipping line. Director General of Indian Exporters Organization FIEO, Ajay Sahay, raised the issue of freight growth in the meeting of the Board of Trade (BOT) held under the chairmanship of Commerce and Industry Minister Piyush Goyal on Tuesday. Sahay said, this is a serious issue and this problem will harm the global demand for goods besides increasing inflation in various countries.

Houthi rebels carried out several attacks in the Red Sea

Houthi rebels have launched several attacks around the Bab-el-Mandeb Strait, an important route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, which has adversely affected maritime trade through this route. To avoid possible attacks, ships have to pass through the Cape of Good Hope, the southern tip of Africa. Due to this, there is a delay of about 14-20 days in the delivery of goods and along with transportation, the insurance cost has also increased. Sahay said, at some places freight rates have increased by up to 600 percent. In such a situation, we request to develop an Indian shipping line with global reputation.

Attacks on ships around India a matter of grave concern: Jaishankar

External Affairs Minister S Jaishankar on Monday termed attacks on ships around India as a matter of grave concern for the international community and said that such threats have a direct impact on India’s energy needs and economic interests.

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