India's finance minister Niramala Sitharaman has tabled the pre-budget Economic Survey for 2021-22 in the Parliament. The survey indicates that the supply chain blockages in the form of ocean container shortage and rising freight costs will remain for some time now.
In addition, the survey has highlighted the container shortage situation captured by Drewry’s Composite World Container Index, which stands at US$9,698.33 per 40' container as of 20 January 2022.
This is US$6,656 higher than the five-year average and is 82% higher than a year earlier. The prolonged period of rising prices shows that the disruptions in the international box market are far from over and will continue to impact ocean trade.
Source: container-news.com
