Late supply, low demand deal a blow to containerised trade
WAREHOUSING & LOGISTICS

Late supply, low demand deal a blow to containerised trade

Global container logistics major Maersk recently said that Indian containerised trade suffered a severe blowback this year owing to staggered supply and demand setbacks across the region along with other challenging indicators.

Overall recovery in imports and exports is expected in the first half of the next year, said the report. While imports remained subdued, with indications of slow recovery coming in by the end of next year, Maersk reported a strong rebound in exports based on the rising demand for textiles and apparel.

Maersk also added that the Covid-19 pandemic brought light to the importance of trade on a global scale and the interdependence of nations. This highlights the importance of the logistics sector to continue the delivery for critical supplies to promote economic recovery.

India's containerised sector has been impacted severely because of the low supply and lesser demand for goods combined with challenging economic indicators in the second and third quarters of 2020.

Between July and September this year, Indian containerised trade decreased to 8% in comparison to last year. However, compared to Q2, 31% of the trade has witnessed recovery, Maresk stated. 

The export industry grew to 14% over the Q3 in 2020. These were higher than 47% than Q2 in 2020. However, the import was 28% lower than Q3 of 2019.

Patterns in retail behaviours are reshaping the supply chain trends. This focuses on risk mitigation and resilience-building while dealing with threats of growing trade protectionism.

The government's initiatives to attract investments focus on developing port and landside infrastructure, lower labour costs, technology automation and adoption, and the availability of raw materials are factors that favour this development.

The company has said that there has been a rise in the export industry demand for Indian textiles and apparel, especially to the North American markets.

Maersk had mentioned that the other commodities that witnessed growth in exports include tile, stone and glass to the north European region, and seeds, beans, cereal and flour to the Middle East and Mediterranean countries.

Since the last quarter, the imports of commodities such as paper, metal, appliances and kitchenware have increased compared to the same period last year.

Image Source

Global container logistics major Maersk recently said that Indian containerised trade suffered a severe blowback this year owing to staggered supply and demand setbacks across the region along with other challenging indicators. Overall recovery in imports and exports is expected in the first half of the next year, said the report. While imports remained subdued, with indications of slow recovery coming in by the end of next year, Maersk reported a strong rebound in exports based on the rising demand for textiles and apparel. Maersk also added that the Covid-19 pandemic brought light to the importance of trade on a global scale and the interdependence of nations. This highlights the importance of the logistics sector to continue the delivery for critical supplies to promote economic recovery. India's containerised sector has been impacted severely because of the low supply and lesser demand for goods combined with challenging economic indicators in the second and third quarters of 2020. Between July and September this year, Indian containerised trade decreased to 8% in comparison to last year. However, compared to Q2, 31% of the trade has witnessed recovery, Maresk stated.  The export industry grew to 14% over the Q3 in 2020. These were higher than 47% than Q2 in 2020. However, the import was 28% lower than Q3 of 2019. Patterns in retail behaviours are reshaping the supply chain trends. This focuses on risk mitigation and resilience-building while dealing with threats of growing trade protectionism. The government's initiatives to attract investments focus on developing port and landside infrastructure, lower labour costs, technology automation and adoption, and the availability of raw materials are factors that favour this development. The company has said that there has been a rise in the export industry demand for Indian textiles and apparel, especially to the North American markets. Maersk had mentioned that the other commodities that witnessed growth in exports include tile, stone and glass to the north European region, and seeds, beans, cereal and flour to the Middle East and Mediterranean countries. Since the last quarter, the imports of commodities such as paper, metal, appliances and kitchenware have increased compared to the same period last year. Image Source

Next Story
Resources

Blum India brings Design Reverie to Hyderabad

Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city’s architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals—away from the typical conference setup. The eveni..

Next Story
Resources

Hafele launches Platinum Studio in Nagpur

Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director – HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele’s wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele’s full portfolio—includi..

Next Story
Resources

Truflo by Hindware wins GPTW honour again

Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India’s fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?