Business Standard

Wednesday, December 25, 2024 | 06:33 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Why crisis for exporters could turn out to be a boon for shipping industry

Shipping companies counter that their costs have soared as well

Trade
Premium

Now, most shipping lines have signed long-term contracts of more than three years and have ordered around 600 ships

Shine Jacob Chennai
In August, a group of exporters announced that it would app­roach the Competition Comm­ission of India to investigate possi­ble cartelisation by shipping lines. The basis of its complaints is skyrocketing freight rates — as much as three to four times over the last one year — and a 15 per cent drop in container availability.

But shipping companies claim this steep rise in logistics costs has been the result of the disruptions following worldwide national lockdowns as Covid-19 spread. Indian exporters aren’t the only ones suffering. US President Joe Biden directed the Federal Maritime Commission to crack down on “unjust and

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in