Twin sea-route squeeze may double freight costs, force 35-day detour: Shipowners’ body chief | Delhi News

Indian cargo faces longer voyages and doubled freight costs due to Red Sea disruption NEW DELHI: India-bound cargo could face an additional 30-35-day voyage and double freight costs with twin disruptions at the Strait of Hormuz and the mounting concerns at southern Red Sea-Bab el-Mandeb, the Indian National Shipowners’ Association (INSA) warned on Wednesday.The sinking…

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Strait Of Hormuz Disruption: ‘Gained non-competitive advantages’: Rosneft chief says US energy companies were biggest winners from Hormuz disruption

Rosneft chief executive Igor Sechin on Saturday said American energy companies were the biggest beneficiaries of the closure of the Strait of Hormuz, while warning that prolonged disruption in the vital shipping route could ultimately undermine global oil demand and accelerate interest in alternative energy sources, as per Reuters.Speaking at the St. Petersburg International Economic…

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