DELAYED SHIPMENTS
Boeing warns customers of further delays on 737 Max amid crisis
The planemaker has cautioned that delivery timelines continue to slip by three to six months on top of already-late handovers, according to people familiar with the matter. In some instances, deliveries scheduled for next year have spilled into 2026, said the people, who asked not to be identified as the discussions are confidential.
Netanyahu again claims the US is withholding arms shipments, days after Washington denies it
Israeli PM Netanyahu claimed a 'dramatic drop' in U.S. weapons for Gaza war, escalating tensions with the Biden administration.
Shipping delays and disruptions erode profitability of MSMEs: Ketan Kulkarni, Allcargo Group
Extended transit times can result in increased transportation expenses and potential penalties for late deliveries, further straining financial resources, says Ketan Kulkarni, Chief Growth Officer, Allcargo Group.
US is slowing AI chip exports to Middle East by Nvidia, AMD
In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE.
We are expecting copper prices to touch $11,500 in LME: Vandana Bharti, SMC Global
Vandana Bharti expects further upside in base metals with potential Fed rate cuts stimulating economic activity and demand. The de-dollarization trend and high CPI in the US are key factors driving copper and industrial metal prices higher.Bharti says: "We are expecting that in LME we can see a level of $11,500 and on COMEX, we are expecting $5.5 or $5.75 in copper."
US military says first aid shipment has been sent across newly built pier into Gaza Strip
Trucks carrying vital aid for Gaza arrived via a U.S. floating pier amid Israeli restrictions, marking the start of an operation aiming to scale up to 150 truckloads daily. The U.S. military seeks to deliver humanitarian aid to Palestinians in Gaza, as fuel shortages and logistical challenges persist. The U.N. emphasizes the urgent need for fuel to ensure aid reaches those in need.
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US House votes to force weapons shipments to Israel, rebuking Biden
The Republican-led U.S. House passed a bill to force President Biden to send weapons to Israel amid the conflict with Hamas. The bill, not expected to become law, underscores the divide over Israel policy. Netanyahu's government aims to combat militants as civilian casualties rise in Gaza. Speaker Johnson and Leader Jeffries criticized the political motives behind the bill.
PC market grows 2.6% in Jan-March quarter, aided by govt orders: IDC
Laptop and desktop sales in India have grown by 2.6% in Q1 2024, driven by large government procurements and improved consumer sales, according to a report by International Data Corporation. The PC market recorded 3.07 million shipments in January-March, up from 2.99 million in the previous year. The growth was mainly due to 56.9% growth in the government segment, while enterprise orders continued to decline.
PC market grows 2.6% in January-March quarter, aided by govt orders: IDC
According to International Data Corporation’s (IDC) quarterly device tracker, the PC (personal computer) market in India recorded 3.07 million shipments in the January-March period, up from 2.99 million recorded in the corresponding period last year.
Reliance faces many hurdles in getting crucial crude delivered as global market struggles
Reliance Industries Ltd., India’s largest private refiner, faces challenges in getting shipments of heavy crude delivered due to sanctions and OPEC+ cuts. To secure needed barrels, it purchased 2 million barrels of Canada’s Access Western Blend crude, embarking on a complex journey involving ship-to-ship transfers and a long voyage to India via the Pacific.
US military says Gaza Strip pier project is completed, aid to soon flow as Israel-Hamas war rages on
The US military completed the installation of a floating pier off the coast of Gaza, enabling the delivery of humanitarian aid amidst the Israel-Hamas conflict. Aid will be transported via sea route to a secure area on land for distribution. The initiative aims to alleviate food shortages and medical needs in the besieged enclave.
US halts bomb shipment to Israel over Rafah concerns
The United States paused a shipment of bombs to Israel due to fears of an invasion in the southern Gaza city of Rafah. This decision, the first such move in the conflict, followed concerns that Israel was not addressing US worries about a potential major ground operation. President Joe Biden's administration had warned Israel in April that US policy on Gaza would depend on its treatment of civilians. The US is particularly concerned about heavy bombs in urban areas. Ceasefire talks involving Israel, Hamas, the US, Qatar, and Egypt have resumed.
Joe Biden puts arms shipment to Israel on hold amid dispute over Rafah attack
President Joe Biden paused a shipment of 1,800 2,000-pound bombs and 1,700 500-pound bombs to Israel, fearing their use in a threatened assault on Rafah. This decision, the first since the Hamas-led attack in October, reflects a growing rift between the U.S. and Israel over the war's conduct. Biden's administration is reviewing future transfers, including guidance kits for precision-guided munitions. The move comes amid U.S. frustration that Israeli warnings against a major operation in Rafah are being disregarded, risking civilian casualties.
Facing delays, exporters seek priority shipment for MSMEs
Indian exporters seek priority shipment for MSMEs at Delhi Airport due to delays caused by Bangladesh transhipment, leading to quadrupled air freight costs. Requests made to suspend transshipment facility for Bangladesh cargo.
Petrobras loads diesel from Reliance on crude tanker in India after delay
The conversion of a crude oil tanker to carry clean products enabled Petrobras to ship bigger volumes of diesel from Asia at lower costs, with Asian sellers also seeking demand outlets outside this region, the sources said.
Russia says there is no problem with payment for its oil shipments to India
Foreign Ministry spokeswoman Maria Zakharova assured that Russian oil shipments to India are progressing smoothly without any payment issues.
Red Sea crisis could fan Asia’s inflation anew, delay rate cuts
Most of the region will be hit indirectly through the spike in shipping costs, especially those that rely on food imports such as the Pacific island countries, New Zealand, India and Pakistan.
Delays in promised Western military aid to Ukraine are costing lives, the defense minister says
Ukraine's defense minister, Rustan Umerov, highlighted the challenges of delayed Western military support, which he said have cost Ukrainian lives in Russia's war. President Zelenskyy confirmed 31,000 Ukrainian soldiers killed since Russia's 2022 invasion, emphasizing the need for allies to fulfill aid commitments. Despite intensifying conflicts, Zelenskyy remains defiant, rejecting direct negotiations with Putin and emphasizing Ukraine's resolve to win. Meanwhile, German and U.S. officials pledged additional aid, with Sullivan urging Congress to pass $60 billion in security assistance for Ukraine.
Putin is shipping grain to Africa. The largesse comes with a price
Russia's aid to Africa, including free grain and military support, is part of a strategy to strengthen ties and gain support for its ambitions. The donations have helped Russia expand its presence in countries like Burkina Faso, Mali, and Somalia.
India: Apple's wearable, laptop & tablet business fails to match iPhone's impressive growth in 2023
Apple's smartwatch business in India registered a marginal 3% growth in revenues and shipments in 2023 while iPad shipments and revenues declined 11% and 27%, respectively, according to International Data Corporation (IDC). MacBook shipments declined 37% in 2023, while revenues fell 49%. Apple desktops, however, grew 7% in shipments, the market tracker said.
Iran sends Russia hundreds of ballistic missiles, sources say
Iran has provided Russia with a large number of powerful surface-to-surface ballistic missiles, including the Fateh-110 family of short-range ballistic weapons, such as the Zolfaghar. The shipments began in early January after a deal was finalized. Russia is an ally of convenience for Iran.
Suspend trans-shipment of Bangladesh export cargo via Delhi: AEPC to Govt
AEPC urges govt to suspend order allowing trans-shipment of Bangladesh export cargo through Delhi Air Cargo complex due to Red Sea crisis increasing transportation costs and shifting export shipments from sea to air mode. Excessive increase in air freight rates, delay in handling and processing of export cargo, and severe congestion at Cargo Terminal making exports uncompetitive.
Inter-ministerial panel on Red Sea crisis to meet tomorrow
The high-level inter-ministerial group on the Red Sea crisis, chaired by commerce secretary Sunil Barthwal, convenes to address shipment delays and rising cargo transport costs. Officials from various ministries will discuss measures to support exporters and ensure adequate credit flow. While India's exports remain unaffected for now, diversion of shipping routes via the Cape of Good Hope has led to increased costs, prompting the need for strategic planning amid potential long-term impacts on trade.
Red Sea crisis pressures China's exporters as shipping delays, costs mount
In a speech at the World Economic Forum in Davos on Tuesday, Premier Li Qiang emphasised the need to keep global supply chains "stable and smooth", without referring specifically to the Red Sea.
Retailers can manage Red Sea shipping delays for now
Container ships are being forced to avoid the Red Sea and Suez Canal, the main route for shipments from Asia to Europe and an important one for deliveries to the US East Coast, after Iran-backed Houthi rebels started attacking ships as part of a campaign against Israel.
Sunflower, Soyabean oil prices rise amid shipping delays
Shipments of the two soft oils that are mostly consumed in the country during the winter season are delayed by a month as container shipping giants, including Maersk and Hapag-Lloyd, are taking a longer route around Africa due to attacks on commercial vessels by Houthi militants in Yemen in the Red sea.
NCAER pegs India’s logistics cost between 7.8-8.9% of GDP in FY22
“The kind of investment that India is making in both physical and digital infrastructure....all that is creating an enabling environment where we will start getting good and credible data, on the basis of which we can do data-based planning and ultimately data based policy making as well,” DPIIT secretary Rajesh Kumar Singh said while releasing the study.
China export curbs choke off shipments of gallium, germanium for second month
Wrought germanium products exports from China was 1kg in September compared to zero in the month before, as per the customs data.
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