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India Business News: Shipments of diesel from India into Europe are at the lowest since 2022 so far this month as Houthi attacks on merchant shipping continue to disrupt international trade, driving more cargoes to Asia.
Shipments of diesel from India into Europe are at the lowest since 2022 so far this month as Houthi attacks on merchant shipping continue to disrupt international trade, driving more cargoes to Asia.
Flows to the European Union and the UK plunged as higher freight costs stoked by the ongoing turmoil in the Red Sea, as well as unplanned refinery maintenance in Asia, made trade economics better for sending cargoes east rather than west.
Shipments of diesel from India to Europe hit a 2-year low due to Houthi attacks, diverting cargoes to Asia. Higher freight costs and refinery maintenance in Asia shifted trade economics in favor of sending cargoes east. No imports of diesel in EU, only one in UK. Arrivals of diesel-type fuel from India to Asian destinations surged.
Shipping charges for cargo going from Asia to the European Union (EU) and Britain have increased. - Diesel Supply From India To Europe Down By 90%, Adverse Impact On India's Business And Supply Chain