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)

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..