The war between Israel and Hamas has crossed 255 days. The situation in Gaza is dire, despite the loss of life and property on both sides. It is the Palestinian people who are suffering the most. This confrontational trend is playing out in the Red Sea. That is, Houthi rebel forces from Yemen have come down in support of Hamas forces.
Red Sea trade
They are attacking pro-Israel ships in the Red Sea. Almost all cargo ships are vulnerable to attack. The same situation has been going on for the past 8 months. The Red Sea is very important in the world’s maritime trade. There are many ships carrying goods from Asia, Australia to European and American countries.
Problem with Indian exports
The Red Sea is an important trade route especially for India. Automobile equipment, engineering equipment, pharmaceuticals, chemicals, textiles etc. are exported from here. More than 80 percent of the trade with Europe takes place through the Red Sea. So if it gets affected in this way it will cause problems for India’s exports.
Damage to cargo ships
Such a situation has now arrived. Due to this, they are taking steps to operate cargo ships on alternate routes. This increases the cost of travel. Also the insurance premium amount has also increased. Also it takes 5 or 6 days more than the usual travel time.
Air Cargo Decision
This has become problematic for food products. Due to this, new orders have been delayed. In this case, various traders have decided to export through air cargo. It is worth noting that the cost is very high.
Emergency arrangement
Whereas goods cannot be carried in large quantities as in cargo ships. Can only be carried in small quantities. At present, considering the emergency export situation, they have decided to transport textiles, medicines, automobile equipment through air cargo.
