Press Release: April 19, 2010
Online diamond jewellery retailer DiamondManufacturers.co.uk has welcomed an announced easing of flight restrictions after volcanic ash from the volcano Eyjafjallajoekull halted air traffic.
The firm said that the blanket ban on flights across Europe was causing a logjam in the international diamond trade.
With many diamond jewellery items manufactured in Surat, near Mumbai in India, customers hoping to receive their dream engagement ring or bridal jewellery in time for the big day may be in for a disappointment as long a partial no-fly zone remains in place. Equally, the supply lines for rough diamonds faced further disruptions.
London is still the global distribution centre for rough diamonds. The Diamond Trading Company (DTC), the rough diamond sales and distribution arm of the De Beers Family of Companies, is the world's largest supplier of rough diamonds, handling approximately 40% of the world's supply by value. The vast majority of the £4 billion worth of rough diamonds the DTC sells each year is channelled through its London offices.
The rough diamond market is estimated to be worth £8.5 billion a year in its entirety, which translates into £45 billion worth of finished diamond jewellery.
Adrie van der Luijt, Press Officer for Diamondmanufacturers.co.uk, said:
Although the safety of airline passengers is of course paramount, we welcome moves to get airfreight activities back to normal again. The flight ban has already impacted on the global supply chain. Weddings rings, necklaces and earrings awaiting shipping from cutters in India and dealers in Antwerp are held up in India.
Even if the ban is lifted entirely across Europe, it will take a week to get back to normal. If flights are not resumed within two or three weeks, however, the diamond retail trade could face serious disruptions.
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NOTES TO EDITORS
About DiamondManufacturers.co.uk (http://www.diamondmanufacturers.co.uk)
DiamondManufacturers.co.uk is a leading online retail jeweller offering the internet's lowest prices on engagement rings, diamonds and fine jewellery.
DiamondManufacturers.co.uk's wide range of products includes engagement rings, wedding bands, certified diamonds, anniversary rings, diamond earrings and diamond pendants.
DiamondManufacturers.co.uk revolutionises the way diamonds and jewellery are purchased over the internet by backing up every purchase with a 110% price guarantee, free shipping, free easy returns, no questions asked 30-day money back guarantee, and lifetime warranty.
For more information, please contact:
Adrie van der LuijtAdrie van der Luijt
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