Synopsis
“Containers are like currency. You have to bring them back,” says Anil Devli, CEO, Indian National Shipowners’ Association. But in the last two years, pandemic-induced disruptions have caused numerous bottlenecks for this currency to move freely across world’s major ports. Supply chains are stuck in a demand-supply imbalance and skyrocketing logistics costs. Normalcy is miles away.
Two key events of the 15th century are always prominently bookmarked in history books. Columbus discovered America. Vasco da Gama found India. There was a third factor that went on to shape world trade — maritime or ocean shipping. It gradually evolved as the preferred means of transport over other modes. For, it is one of the cheapest and the greenest. So much so that maritime shipping today accounts for 95% of the export-import (EXIM) trade
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