Port Congestion Update – There growth in the number of containers cleared at Nhava Sheva and Mundra

Towards the end of week 19 major auto players have seen opening up their facilities in different parts of the country in accordance with the social distancing norms with local authorities. Rice exports also have seen substantial movement to Bangladesh from Mundra , whereas the MHA has been pushing west Bengal government to start moving them via road as well. Major mobile phone manufacturers also have resumed operations in Uttar Pradesh, Bangalore and Chennai. Steel manufacturers have witnessed huge volumes moving through exports since the domestic demand has been slowed down due the lockdown. The pharmaceutical industry has seen a…

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

The spread of the novel coronavirus causing COVID-19 is affecting the shipping industry in unprecedented ways. As a large number of containers are stuck in transshipment and countries have put restrictions on movement of ships to contain the spread of the virus, it has lead to a mismatch in the demand and supply in the market. As a result, existing RFQs are seeing Force Majeure being invoked and shippers are using spot rates to make bookings to transport their goods.  Moving To Spot RatesThe Demand and Supply mismatch in the market has lead to a lack of availability of containers.…