India reiterates support for unrestricted commercial shipping, keeps close eye on Red Sea situation

Yemeni coastguard members loyal to the internationally-recognised government ride in a patrol boat cruising in the Red Sea off of the government-held town of Mokha in the western Taiz province, close to the strategic Bab al-Mandab Strait, on December 12, 2023. (AFP)

The Indian government on December 21 affirmed its commitment to supporting the free movement of commercial shipping across the globe.

It acknowledged that India has consistently advocated for the unhindered movement of commercial shipping, emphasising its strategic importance to the global economy.

The statement comes in the wake of growing international concerns about disruptions to maritime trade routes. Arindam Bagchi, the spokesperson for the Ministry of External Affairs, stated that India is closely observing the ongoing developments in the region and actively participating in international initiatives aimed at ensuring the freedom of shipping, addressing concerns such as piracy.

He reiterated India's commitment to monitoring the situation and contributing to global efforts to maintain the unimpeded movement of commercial vessels.

Bagchi on the situation in the Red Sea, says, "India has always been supportive of the free movement of commercial shipping so that is something that we are interested in. We are, of course, monitoring the developments there.

"We're also part of international efforts to ensure free shipping, whether it be piracy or otherwise, India has been involved in it. So we will continue to monitor that," Bagchi added.

Houthi attacks in the Red Sea

The Huthis, in support of Palestinians in the Gaza conflict, launched drone and missile strikes targeting Israel. This includes attacks on cargo ships in the Red Sea, with the Huthis arguing that it counters Gaza's isolation by Israel.

Significance of the Red Sea

The Red Sea is a critical waterway for shipping between Europe and Asia, especially for vessels transiting through the Suez Canal, a vital East-West trade route spanning 193 kilometers.

Shipping companies' concerns

Major shipping companies are temporarily avoiding the Red Sea due to attacks by Yemen's Houthi rebels. Concerns have led to rerouting global trade away from this crucial passage for consumer goods and energy supplies.

Impact on global trade

The rerouting of trade is expected to cause delays and increased prices. Four of the top five container shipping companies have either paused or rerouted movements through the Red Sea, necessitating longer voyages.

Houthi attacks have contributed to rising oil and European natural gas prices. The disruption in the Red Sea has a significant impact on the transportation of critical supplies, including energy resources, palm oil, grain, and manufactured products.