Asia holds sway over container ports
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Though port development in India hasn’t been impressive, the govt is now taking proactive steps to modernise our ports
Standardised containers were first used to transport cargo by sea on April 26, 1956. During the last over six decades this containerised mode of transport has made a huge impact on global shipping. Lingering trade tensions and high policy uncertainty undermined growth in global economic output and merchandise trade in 2019. Trade volumes expanded by 0.5 per cent in 2019, down from 2.8 per cent in 2018, to 11.8 billion tonnes. In tandem, global container port traffic growth slowed to 2 per cent from 5.1 per cent in 2018.