Container traffic on a slow sail
The epidemic of global economic meltdown is getting deeper in the global shipping industry and the Indian container market is no different. Volumes have slumped, companies are running into losses and now importers are shying away from claiming their cargo. Even the high seas are at a low point, as business for shipping container companies has slipped up to 40 per cent. Freight rates have also halved and charter rates are down to an all-time low.
