Insurance rates through Hormuz are currently four times the five-year average.
Japan is turning to five lesser-used straits in Southeast Asia as insurance against the next maritime shock, with plans to create detailed nautical charts for ships to navigate through these waters and bring vital goods to its economy. Tokyo would work with Indonesia and the Philippines to chart their respective straits, the foreign ministry told the Yomiuri newspaper, as it stepped up efforts to mitigate disruption to global trade arising from the ongoing crisis in the Strait of Hormuz. The...
According to a statement issued by Office of Kerala Chief Minister V.D. Satheesan, commencement of EXIM operations will transform Vizhinjam from a transshipment port into a full-fledged international cargo gateway