Batten down, ride out shipping storm

Synopsis Ships are increasingly steering clear of the Suez Canal, resulting in port congestion and longer shipping times than usual. Driven by electronic goods, global trade is booming, yet higher freight expenses and increased insurance premiums pose significant challenges. Meanwhile, China’s impressive export growth is straining container availability, adversely affecting surrounding Asian economies. Indian exporters are particularly tasked with overcoming logistical hurdles, underscoring a pressing need for government intervention. Port congestion is rising due to ships avoiding the Suez Canal amid security concerns in the Red Sea. The longer route, via Cape of Good Hope, lengthens transit times and leads…