A sharp drop in import volumes compared to exports has led to a shortage of containers for exporters from India resulting in soaring rates for ‘empties’ in the last three months.

According to TS Ahluwalia, President, North India Shipper Association (NISA), “Now, shipping lines have to specially bring empty containers to India from various parts of the world and that freight cost has to be paid by exporters.” Exporters are thus seeing a sharp surge in freight rates, he added.