Shipping container crisis- The repercussion of the global lockdown

Authors

Dr.M.Bina Celine Dorathy, Professor
School of Commerce and Management Studies, Jain University, Bangalore)

Abstract

Shipping containers play an immense role in international trade. It brought about significant changes in cargo transportation by significantly cutting down cost and time. The global lock down induced by the pandemic has created disruptions in container movement. Containers got stagnated at major ports waiting for customs clearance. The entire container clearance operation was slowed down for want of manpower and this created one of the worst congestions in recent years. Container shortage has led to increase in freight rates and some of the shipping lines have started making exorbitant profits utilizing this opportunity. The impact is more on India as many shipping lines have announced blank sailings to Indian ports. This article provides a glimpse of the grim situation that prevails and outlines the areas that require attention from the Government