Even as the problem of chip crunch continues with no sign of abating anytime soon, another colossal global crisis, a shortage of containers, is persisting. What has made the container crisis thorny is the fact that ocean freight rates have skyrocketed in the last few months. For example, if container cargo from an Indian port to Sydney in Australia cost $3,000 in the last fiscal year, it’s now $7,518, according to data compiled by the All India Rice Exporters Association.
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