CHALLENGES WITH THE RED SEA ROUTE
CHALLENGES WITH THE RED SEA ROUTE Indian exporters face challenges with the Red Sea route, prompting exploration of several alternative options, each with its own merits and drawbacks. Cape of Good Hope : Pros: Safe and secure, avoiding Red Sea security risks. Economical for bulk cargo, potentially cheaper for large, low-value shipments. Cons: Longer transit time, adding roughly 30 days, impacting delivery schedules and potentially increasing inventory costs. Higher fuel costs due to increased distance. Mediterranean-Caspian-Black Sea Route : Pros: Faster than Cape of Good Hope for certain European destinations. Potential access to new markets in Caspian and Black Sea regions. Cons: Limited infrastructure with inadequate port facilities and logistics capabilities in some sections. Political instability in certain regions raising concerns about potential disruptions. Land/Air Routes : Pros: Fastest option, ideal for perishable goods or time-sensitive sh...