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SHIPPERS SEEK ADDITIONAL SECURITY AMID RED SEA TRADE DISRUPTION
Why in the News?
- Recently, Shippers, exporters, and freight forwarders requested additional security measures in the Red Sea trade route during a meeting led by Commerce Secretary Sunil Barthwal.
Source: The Indian Express
Source: The Indian Express- Previous reports suggested that freight rates for Indian shipments to Europe and Africa could increase by 25-30% if security issues in the Red Sea persist.
- The Indian Navy maintained mission readiness in the North and Central Arabian Sea to ensure freedom of navigation and commercial shipping safety.
- Recent incidents, including a drone attack on the Liberian-flagged vessel MV Chem Pluto and a suspected drone strike on another commercial oil tanker, raised security concerns
Red Sea attacks
- Yemen’s Houthi rebels are responsible for the Red Sea attacks, attributing them to their opposition to Israel’s Gaza offensive.
- The US-led maritime security coalition has responded with countermeasures, underlining the route’s significance for global trade.
- Beyond the Red Sea crisis, two vital choke points, the Suez Canal and the Panama Canal, pose threats to over one-third of global trade.
About Red Sea
- Location: Positioned as an inlet of the Indian Ocean nestled between Africa and Asia.
- Salinity: Noted as one of the world’s most saline bodies of water.
- Bordering Nations: Surrounded by Egypt, Saudi Arabia, Yemen, Sudan, Eritrea, and Djibouti.
- Southern Connection: Links to the Indian Ocean via the Bab el Mandeb Strait and the Gulf of Aden.
- Northern Features: Bounded by the Sinai Peninsula, Gulf of Aqaba, and Gulf of Suez, leading into the Suez Canal.
- Geological Aspect: Forms a segment of the expansive Great Rift Valley, specifically the Afro-Arabian Rift Valley.
