Good. By at least one estimate, the Center for Strategic and International Studies, China Manufactures 96% of the world's shipping containers.
From The Maritime Executive:
Container shortages severely disrupted trade in the second half of 2020, just as consumer demand began catching up to pre-pandemic levels. Indian shippers, just like their European, Australian, and US counterparts, began to feel the heat of the crisis as ocean freight rates skyrocketed to exorbitant levels. Governments around the world were forced to intervene, and the situation has somewhat stabilized.
A rising economy backed by increased export volumes has pushed the Indian government to address the root cause of the container problem so that a repetition of the same issue does not occur in the future. As the result, the Indian government is set to invest in the container manufacturing sector with the primary goal of boosting its exports.
Expected to play a big part in making India self-reliant in the long run, container manufacturing has already received a significant governmental push. The decision was accelerated by the ongoing container shortage on routes of major shipping lines, causing a widespread hike in shipping costs. Rice, which forms the core of major Indian exports, was significantly affected.
Ajay Sahai, director general of the Federation of Indian Export Organisation, told India Narrative that “we need to address the issue of containers at the earliest, especially as we focus on boosting exports on one hand and reducing imports on the other.”....
....MUCH MORE
