Posted 1/26/2024, 7:40:00 PM
Container Shortage and Freight Issues Disrupt India's Exports
- Container crisis in Red Sea due to geo-political issues, disrupting India's exports to Africa and Latin America
- Shipping freight rates expected to double; container shortage at west coast ports
- Petroleum, automobiles, marine food, and agri commodities exports most affected
- Exporters requesting container movement from east to west coast
- Companies factoring in freight hikes and longer shipment times into margins