Strikes at US ports to impact India, Indonesia, and South Korea: Moody

03 Oct 2024 CW Team

The ongoing strikes by dockworkers at major US ports along the East Coast and the Gulf of Mexico are expected to significantly impact India, Indonesia, and South Korea due to their heavy reliance on these ports, according to a report by Moody’s Analytics. The strikes, led by the International Longshoremen’s Association, have halted operations at 36 major ports, which handle nearly 55% of the container traffic moving in and out of the US, including the 14 largest ports from Maine to Texas.

“Countries like Indonesia, India, and South Korea, which rely heavily on these ports, will be hit hard, whereas more diversified trading economies like Hong Kong, Singapore, and Malaysia will be relatively insulated,” said Harry Murphy Cruise, Economist at Moody’s Analytics.

As per the Ministry of Commerce and Industry, trade between India and the US stood at $119.71 billion in the 2023-24 period, underlining the significance of these ports for bilateral trade.

Moody’s also emphasised that Cambodia is expected to be the most impacted, with around 45% of its exports heading to the US, of which 30% transit through these disrupted ports.

“For Asia, shortages would be most prominent in commodities. Crude and refined petroleum products make up nearly 20% of all exports to Asia from these 14 ports, while soybeans account for approximately 6%. Vehicles and electronics could also face delays if outbound shipments do not resume soon,” the report noted.

(ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..