Trade Route

The concluding part of the series highlights stabilising trade ties with Dhaka, but payment delays and a complex bilateral environment remain major concerns

The detour around Africa has increased both shipping costs and delivery times, exacerbating the challenges faced by global trade, which is still recovering from a host of geopolitical issues

Crew members on the cargo ship Dali can head home as soon as Thursday under an agreement that allows lawyers to question them as part of investigations into the cause of the deadly collapse of Baltimore's Francis Scott Key Bridge. Attorneys had asked the judge Tuesday to prevent the roughly two dozen total crew members - all hailing from India or Sri Lanka - from leaving. Eight of the Dali's crew members were scheduled to return home, according to emails included in court filings. None of the crew members has been able to leave the U.S. since their ship lost power and crashed into one of the bridge's supporting columns on March 26. Under the agreement, which was confirmed by U.S. District Judge James K. Bredar during a hearing Thursday, the crew can return home but must be available for depositions. In the court filings, attorneys representing the City of Baltimore said the men should remain in the U.S. so they can be deposed in ongoing civil litigation to decide who is responsible

Monday's agreement is expected to finally realise efforts by India to gain a strategic foothold in the region

Companies are exploring alternative logistics options, including finding different shipping routes to minimise supply chain disruptions as the Red Sea crisis enters its fourth month

The Red Sea falls in an important transit route from Mediterranean Sea to Arabian Sea through Suez Canal

Capital goods and engineering companies - Bharat Electronics, TD Power Systems and KEC International, all have noted some operational strain owing to Red Sea woes

The development comes in the backdrop of the Red Sea crisis impacting global trade

About 15 per cent of world shipping traffic transits via the Suez Canal, the shortest shipping route between Europe and Asia

Multiple commercial ships in the area reported the impact of the missiles in surrounding waters, CENTCOM added

So shippers are sending vessels the long way around Africa, adding $1 million in costs - and seven to 10 days - to each voyage. Oil prices are creeping higher

This plan is in the final stage which will resolve problems of money transfer between Iran and Syria

FPOs have been engaged to ensure supply of quality produce from the region, the release said

Pakistan on Wednesday expelled Indian High Commissioner Ajay Bisaria, after it decided to downgrade the diplomatic ties with India

After being dubbed as India's biggest bet in Central Asia and Russia, a new trade corridor aimed at improving India's reach in the region is struggling to find takers.The ambitious International North South Transport Corridor (INSTC) aims to slash by half the time taken by trade shipments to reach Russia and nations part of the Commonwealth of Independent States (CIS) as well as massively reduce logistics costs. Come April 13th and India will be sending a series of containerized exports to Russia to mark the 70th year of diplomatic and trade ties between the two countries through the new route.However, even more than six months after all components of the planned trade route has been put into place and almost three years after the first successful dry run was completed, the route is struggling to find takers among traders."The average time taken is expected to be brought down from the current 35-40 days to 20-22 days while logistics costs will go down by 44 per cent but the lack of ...