Capture of MSC Aries will further drive up Indian export costs
With heightened geopolitical tensions sparked by the Iran-Israel faceoff, Indian exporters are again staring at ...
The Coolstar is reporting that with 30 days’ voyage time from the west coast of the US to Asia extending by a further 15 days, owing to the port congestion, some shipping lines have reportedly stopped taking perishables. As a result, airlines are picking up cheap frozen food, much of it destined for US multinationals seeking products such as ketchup and chicken wings – which are unable to be sourced locally. Japan, meanwhile, is importing frozen pork and beef. Transpacific load factors in some cases are now up to 90%, and forwarders are predicting the situation to remain – whatever the outcome of the port negotiations – for another two to three months.
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Alex Lennane
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Alessandro Pasetti
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