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Exporters suffer as Houthi attacks make vessel cover costlier
Credit: IndiaTimes- Published on April 20, 2024
Indian exporters are facing challenges as costs surge due to Houthi attacks on shipping in the Red Sea, resulting in a significant rise in cargo insurance premiums. Some products have seen increase as high as 500%, while the average insurance premium is now 60% higher. Reasons for increase is heightened risks in the region,...
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Houthi movement
Islamist political and military organization in Yemen
Red Sea
Arm of the Indian Ocean between Asia and Africa
Yemen's Houthi rebels say they have targeted the Israeli Red Sea resort city of Eilat with multiple ballistic missiles.
6 days ago • Sky News