Southern Red Sea Shipping Disruption Raises Concerns in Oil Markets

ICRA predicts 4-6% growth in FY25 tyre sales

Icra stated that domestic tyre sale volumes are expected to experience a moderate growth of 4-6 per cent in this fiscal year, following an estimated pace of 6-8 per cent in the previous financial year. The growth in the last fiscal, it was said, had been driven by factors such as elevated base and subdued growth in the commercial vehicle (CV) segment. However, Icra anticipated that domestic demand from original equipment manufacturers (OEMs) in certain consumer segments like PV (passenger vehicle) and two-wheeler, as well as for replacement, would remain healthy, supporting overall tyre volume..

Kajaria Ceramics: Q4 FY24 sees 5.2% slide in net profit

Due to rising expenses and sluggish demand, Kajaria's consolidated net profit decreased 5.2% year over year to Rs 1.02 billion in the fourth quarter. LSEG data shows that analysts had anticipated earnings to increase to Rs 1.26 billion on average.

Kajaria Ceramics, the top tile manufacturer in India, releases results for the January March quarter. Analysts suggest that the Red Sea crisis dampened exports and that there was little domestic demand for tiles during the January March quarter. In the first three quarters of fiscal 2024, the tile industry had very little volume increase,..

Red Sea Diversions Emit Carbon Equal to 9 Million Cars

The practice of diverting water from the Red Sea to other regions has emerged as a significant source of carbon emissions, equivalent to the exhaust emissions of approximately 9 million cars. This alarming revelation highlights the environmental consequences of large-scale water diversion projects and underscores the need for sustainable water management practices to mitigate climate change impacts.

The diversion of water from the Red Sea to other regions, primarily for agricultural and industrial purposes, has become increasingly common in recent years. While these projects may addres..

Raw Material Supply to RINL from Gangavaram Port Resumes

After a hiatus of over a month, the supply of raw materials from Adani Gangavaram Port to Rashtriya Ispat Nigam Limited (RINL) has resumed. The disruption, caused by worker agitation at the port, had severely impacted RINL?s operations, which rely heavily on coking coal to manufacture steel.

RINL, based in Andhra Pradesh and one of India's top steel producers, faced significant operational challenges due to the lack of this critical raw material. The company had sought intervention from the Andhra Pradesh government to resolve the issue and ensure the resumption of coal supplies. The p..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..