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Now, traders will end up paying more to export goods to global destinations

Now, traders will end up paying more to export goods to global destinations
June 25, 2021
Shipping lines to hike surcharges by up to $1,500/ TEU
At a time when exports appear to be the only saving grace for the Indian economy, exporters are being forced to shell out more to ship goods to global destinations.
Shipping lines have announced surcharges due to the continued global disruptions in container trade following congestion at various ports. The proposed increase is between $500 and $1,500 per Twenty-foot equivalent unit (TEU), depending on the destination.
Effective July 7, shipping rates from Nhava Sheva, Mundra, and Hazira ports to Mediterranean will see a rate increase of $500 per TEU, said an Hapag Lloyd advisory. At present, it costs $2,800 per TEU to Barcelona – a $500 surcharge would mean an 18 per cent increase in shipping cost. ....

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Covid 'infects' shipment of leather exporters - The Hindu BusinessLine

Covid ‘infects’ shipment of leather exporters
May 20, 2021
Work has restarted in a limited way as per Tamil Nadu Government mandated restrictions in a leather footwear MSME export unit in Guindy Industrial Estate, Chennai. Photo : Bijoy Ghosh - Businessline
Work has restarted in a limited way as per Tamil Nadu Government mandated restrictions in a leather footwear MSME export unit in Guindy Industrial Estate, Chennai. Photo : Bijoy Ghosh - Businessline×
Skeletal staff and shortage of sea containers is a concern despite exporters having enough orders
Leather exporters have enough orders on hand, but skeletal staff strength and shortage of sea containers is threatening to delay the shipment to global customers. Every year, April to June is the peak running time for leather units and export shipment starts from June 15. However, leather units are worried that this will get delayed this year. ....

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Shortage of containers to linger | Hellenic Shipping News Worldwide

Shortage of containers to linger
The Covid-19 pandemic in 2020 derailed every sector, and the shipping industry was no exception. While many industries, including manufacturing, are slowly bouncing back, the shipping sector is still struggling with a severe shortage of containers affecting trade.
The fall in imports after the pandemic led to a huge imbalance in the demand and supply of containers, hitting the availability of containers for exports.
The trade that is mainly dependent on maritime transport is trying to cope with the continuing shortage, which led to the spiralling of freight costs and delays in shipments. In some sectors, freight rates increased by 100-200 per cent. Adding to the woes is the cancellation of scheduled vessels while the rescheduling of regular calls has created a demand for container slot allotments on vessels. This is affecting exports and is also leading to escalating freight cost. ....

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Shortage of containers hits shipping trade - The Hindu BusinessLine

Soaring freight costs, demand-supply imbalance and shipment delays hit trade ....

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