Hormuz Crisis Deepens
The Hormuz shipping crisis continues to worsen, with far-reaching effects on various sectors, including fertiliser, sulphur, and seafarers.
Impact on Shipping
The conflict has led to a surge in auction slot pricing at the Panama Canal, with some individual bids topping $1m.
India's Maritime Insurance Pool
India has established the Bharat Maritime Insurance Pool to reduce reliance on overseas insurers and strengthen maritime self-sufficiency.
Key Developments
- Panama Canal Authority reassures queue-free operations
- India creates Bharat Maritime Insurance Pool
- Hormuz crisis affects fertiliser, sulphur, and seafarers