One of India’s biggest online travel platforms halted bookings to the Maldives, amid an increasingly fraught diplomatic spat that began when officials in the tourism-dependent island nation derided Indian leader Narendra Modi on social media. “Our company is entirely homegrown and made in India,” Prashant Pitti, co-founder of EaseMyTrip, wrote…
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By Debjit Chakraborty (Bloomberg) India’s oil refiners are looking to pick up a bit more Russian crude in last-minute purchases just weeks before new sanctions take effect. At least four companies.
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By Krystal Chia and Debjit Chakraborty (Bloomberg)
India’s devastating Covid-19 crisis is threatening operations at some of its biggest ports, raising concern the action could trigger shipping delays that reverberate through global supply chains.
Karaikal Port in southern India invoked force majeure until May 24 after operations were “severely affected” from the pandemic, according to a notice on its website. The terminal, which claims to be India’s biggest non-state port, handles coal, sugar and petroleum among other commodities. Gopalpur port in Odisha has also declared force majeure, according to IHS Markit.
The situation may echo global trade disruptions seen last year after virus restrictions slowed shipments into China. While India accounts for only fraction of the global trade that China does, any delays in offloading vessels and releasing them to their next destination could create supply chain bottlenecks.