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Trade imbalance causes container shortage; freight rates hit the roof

Fall in imports from China leads to shortage of containers hurting shipping lines, importers and exporters

Aditi Divekar Mumbai

File photo: Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai (Photo: Reuters)

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A 40-foot standard container can carry 22-23 tonne of cargo and is meant for lighter and voluminous material.

4 min read Last Updated : Dec 16 2020 | 4:38 PM IST

Container shortage in India due to the uneven import-export scenario is taking costs through the roof for both, shipping lines as well as the importers and exporters.

“Freights have jumped on all routes in the range of 20-100 percent depending on the sector. Exporters are operating on losses at times as customer is not ready to absorb the hike,” Mark S. Fernandes, director, IMC Chamber of Commerce and Industry, told Business Standard.

Imports to India plummeted by 22-24 per cent in the April-November period in terms of volume while exports volumes