Rising shipping costs to Israel amid conflict and Houthi attacks

20 Dec 2023 CW Team

The recent days have seen an increase in the shipping costs of goods to Israel by sea, with some container lines withdrawing and others introducing additional surcharges. This is contributing to supply chain challenges for the country amid the conflict in Gaza, according to shipping sources.

Israel, heavily dependent on seaborne trade, had announced in October that it would compensate for ships damaged during the conflict with the Hamas group. However, it has not specified whether it will cover additional shipping expenses.

Houthi militants in Yemen, backed by Iran, have intensified attacks on vessels in the Red Sea to express support for Hamas following the onset of Israel's military offensive in Gaza. In response, some shipping companies have rerouted sailings around the Cape of Good Hope or suspended transits through the Red Sea. The attacks have added pressure to companies still providing sea transport to Israel.

The Houthis have expanded their target criteria to include vessels that were no longer associated with Israel, according to British maritime security company Ambrey.

Ocean freight rates from various Chinese ports to Israel rose to over $2,300 for a 40-foot container by December 12, compared to around $1,975 at the end of November, according to analysis from global freight platform Freightos. Freightos CEO Zvi Schreiber noted that the route around Africa is significantly longer and incurs higher fuel costs compared to the Suez Canal route.

Evergreen Line and OOCL have temporarily stopped accepting Israeli cargo due to operational issues, while AP Moller-Maersk has imposed an emergency risk surcharge for all cargo discharged at Israeli terminals.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..