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Exporters are taking unusual steps to ease container shortage SECTIONS Exporters are taking unusual steps to ease container shortageBy Ann Koh and Rajesh Kumar Singh, Bloomberg Last Updated: Mar 10, 2021, 08:03 AM IST Share Synopsis Among other things, Container Corp is moving containers to neighbouring countries such as Sri Lanka and Bangladesh to help ease the shortage. Typically the company would only move the boxes to facilitate domestic shipments. That has coincided with a turnaround in India’s trade, with both exports and imports witnessing two months of growth on run. AFP Even countr...

By Ann Koh and Rajesh Kumar Singh (Bloomberg) — Some of the world’s biggest exporters in Asia are intervening to alleviate a shipping container shortage that jeopardizes their overseas trading. Government-owned Indian Railways has moved empty boxes to inland depots like Delhi from seaports for free. South Korea has deployed an extra nine vessels on the Trans-Pacific route to help local manufacturers while China’s state-owned shipyard, Cosco Shipping Heavy Industry, has converted at least one freshly built paper-and-pulp carrier to transport the containers. “The state has a far big...

Got spring fever? Layers of frozen snow still cover the ground, but come the spring thaw, three developers could break ground on four new industrial facilities that collectively total 460,000 square feet. The city of Janesville’s economic development office announced it plans to take three tax-incentive agreements to the city council Monday. One of the deals would help Milwaukee developer Zilber Property Group build on speculation a pair of 178,000-square-foot industrial buildings on 24 acres of city land at Venture Drive and Beloit Avenue. Just southeast of that project, Beloit paper tu...

Stock of Container Corporation of India hit a 52-week high today after brokerage Jefferies raised its target price to Rs 700 per share. Container Corporation of India share rose to a fresh high of Rs 643.9, gaining 11.3% against previous close of Rs 578.

Photo: Shirish Nadkarni Great Eastern Shipping Co and the London-based Foresight Group are among the leading names that have put in bids to buy national carrier Shipping Corporation of India (SCI), which has been put up for sale by the Indian government. India’s Cabinet had, in November 2019, given an in-principle approval for the strategic divestment of its entire 63.75% equity stake in SCI, and also its shareholding in rail-borne cargo carrier, Container Corporation of India (CONCOR). However, the swift spread of the worldwide Covid-19 pandemic delayed ...