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
Trump drops a 24-hour-old vow to charge cargo ships for using the Strait as the US continues its battle to break Iran's hold on the waterway.
Trump says the US will start charging a cargo fee for ships passing through the Strait of Hormuz.
The Strait of Hormuz faces a renewed plunge in maritime traffic after the United States ended its ceasefire with Iran, casting a shadow over a tentative commercial recovery, as analysts warn unaddressed differences in the framework agreement risk fuelling further escalation. Traffic volumes dropped again on Thursday, with only 14 vessels transiting the strait, down from 35 a day earlier, according to Veson Nautical, a maritime software and data provider. Real-time data from the vessel-tracking...
Nearly 40% of India’s maritime trade passes through one of the world’s busiest shipping lanes, the Strait of Malacca. And the country that sits at the gateway to that strategic chokepoint is Indonesia. That’s why Prime Minister Narendra Modi’s visit to Indonesia, his first bilateral visit to the country since 2018, is about much more than diplomacy. It is about securing India’s maritime interests, expanding economic partnerships and strengthening its position in an increasingly competitive Indo-Pacific. So, why does Indonesia matter so much to India?