Red Sea crisis hurts Indian exports as costs soar ...Middle East

The Red Sea, a vital conduit for East-West trade, is witnessing persistent disruptions due to Yemeni Houthi militia’s attacks on ships, causing a significant uptick in fuel and interest costs, longer voyages and straining the capacities of the logistics sector. PREMIUM FILE PHOTO: People walk on the beach as a container ship crosses the Gulf of Suez towards the Red Sea before entering the Suez Canal, in El Ain El Sokhna in Suez, east of Cairo, Egypt April 24, 2017. REUTERS/Amr Abdallah Dalsh/File Photo(REUTERS) The costs of Indian exports and ocean freight rates for goods from Asia to Europe have more than doubled, led by high insurance premiums payouts and container expenses, exporte

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