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 ...
Unexpected volumes, shipping alliance shake-ups and dense fog has brought chaos to the world’s busiest container terminal – the vast Yangshan facilities located off Shanghai’s shoreline – which is currently battling major congestion. Shipping software provider CargoSmart told Reuters more than 100 container vessels are waiting outside the port, with waiting times having increased 6.2% on last week to upwards of 18 hours. By some standards, that has proved quick. According to the software provider, between 16 and 18 April, ships were waiting as long as 53 hours to get in after fog hindered port activity. And it seems the problems could well continue into next month.
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