Longer ship routes causing delays, impacting global trade: Piyush Goyal

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Longer ship routes causing delays, impacting global trade: Piyush Goyal - Business Standard

Quick Summary:

"No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War," the minister said adding regular interactions are done with shipping lines, port/ terminal, and export/import associations to assess for possible interventions.

The long voyage time due to ships taking longer routes through Cape of Good Hope has impacted global trade, including Indian exports, Commerce and Industry Minister Piyush Goyal said on Tuesday.

He added that there is limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in India.