RE: Tecc15 Jan 2024 16:38
The cost of Indian exports has more than doubled due to the Yemeni Houthi militia’s attacks on ships in the Red Sea, industry officials have said.
About 80% of India’s goods trade with Europe, estimated at nearly $14bn a month, normally passes via the Red Sea, according to government estimates.
Exporters said 95% of vessels had rerouted around the Cape of Good Hope on the southern tip of Africa, adding 4,000 to 6,000 nautical miles and 14-20 days to journeys from India since Houthi militants began attacking shipping.