India's container shortage to start easing in November
CONTAINER availability in India is likely to start easing by mid-November because of growth in imports, reports London's S&P Global Platts
CONTAINER availability in India is likely to start easing by mid-November because of growth in imports, reports London's S&P Global Platts.
Container volumes at the Port of Mundra recovered from July to September and were 36 per cent higher at 19.4 million tonnes. July to September container volumes at the Port of Mundra were at 1.3 million TEU against 1.2 million TEU a year ago.
Adani Ports and SEZ (APSEZ) handled a total cargo volume of 56.25 million tonnes in the same quarter, compared to 41.41 million tonnes in the prior quarter.
'We do expect that container availability will increase further in quarter three as imports start increasing in the country. We already see signs of repositioning of containers happening at our ports, so we do expect this easing up happening by mid of this month,' said CEO of Adani Ports & SEZ Limited Karan Adani.
'India, along with other major Asian markets, has been facing an acute shortage of containers for the last six months due to a skewed import-export ratio and supply chain disruptions in the wake of COVID 19-related lockdowns,' said Mr Adani.
'Historically, imports have accounted for 60 per cent of container volumes in the country and exports for the rest. That trend was reversed in the July-September quarter when exports were around 55 per cent to 60 per cent of total container volumes and imports were smaller,' said Mr Adani.
'The rise in exports was predominantly because of pent-up demand. Imports did not stop when the lockdown was in place but exports did. So, we saw demand on the export side when the country opened up and the factories started again,' said Mr Adani.