S.-Israeli attack on Iran, Indian industry representatives and exporters said in a message to their government on Tuesday, March 3.
Industry bodies said the war in the Middle East disrupted key shipping corridors, pushing up maritime insurance premiums and increasing freight rates, affecting outbound traffic to the United States and Europe.
"Air routes have been disrupted or altered, and maritime trade through West Asia and the Strait of Hormuz is facing risks and uncertainty," said S. K. Ralhan, president of the Federation of Indian Export Organizations (FIEO).
"If the war drags on, shipping lines will be forced to change their route through the Cape of Good Hope, adding about 15-20 days of transit time to Europe and the United States and, as a result, additional costs for exporters," he said.
Shipping companies Maersk, Hapag Lloyd and CMA CGM are redirecting ships around Africa, away from the Suez Canal and the Bab el-Mandeb Strait after the US-Israeli attack on Iran and subsequent Iranian retaliatory military strikes on several US military bases in the Middle East, including Qatar, Kuwait and the United Arab Emirates (UAE).
India is heavily dependent on the Bab el-Mandeb Strait for crude oil and LNG imports and trade with key regions. The trade route through the Bab el-Mandeb Strait, the Suez Canal and the Red Sea is shorter and faster than
