'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
'It concerns the sea and the security of the nation. What has happened is a big tragedy.'
Official sources in India said it is in touch with Iran to secure the release of 17 Indians.
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The father said that he has not received any updates from the state or the Central governments regarding his daughter's current status.
Eighteen Indian sailors stuck in China will return to India on February 14, union minister Mansukh Mandaviya said on Wednesday.
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
For the MV Khailijia 3, one of the two ships which collided last Saturday off the coast of Mumbai, the track record does not read very well. In July, it was found that the ship had developed some cracks and had to offload its cargo mid-sea.
Freight rates between India and China have dropped by more than half following introduction of express services between the two countries by leading international container shipping liners.
The project has been delayed by three years, after a consortium of Port of Singapore and ABG Ports, which had won the bid by offering to share more than 50 per cent of the revenue with JNPT, backed off from the project, citing several reasons.
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