Heat 2 tablespoons oil in heavy large pot over medium heat. Add shallots, garlic and thyme; sauté 2 minutes. Stir in wine and saffron. Add clams. Cover and simmer over medium heat until clams open, about 8 minutes (discard any clams that do not open). Remove from heat.
Using tongs, transfer clams to bowl. Remove meat from shells; reserve meat. Strain cooking liquid and any accumulated clam juices into medium saucepan; discard solids. Add bottled clam juice to cooking liquid. Bring liquid to boil. Add peppers. Set aside.
Heat 1 tablespoon oil in heavy large skillet over medium-high heat. Sprinkle fish with salt and pepper. Add to skillet; cook until golden on bottom, about 2 minutes. Using spatula, turn fish over. Pour pepper mixture over fish. Cover and simmer over medium-low heat until fish is just cooked through, about 3 minutes.
Using slotted metal spatula, transfer fish to shallow soup plates. Add clam meat to skillet; stir just until heated through. Spoon over fish. Sprinkle with cilantro and basil.
