India’s ports have already started to benefit from all the disruptions caused at Colombo, with Mundra going from third most expensive port, in April, to the costliest port, globally, for standard containers for the first time this year. Factors like increase in container demand and higher traffic are contributing to the average container price at Mundra going as high as $2,489 in May.

India has an opportunity to get permanent shipping diverts towards its shores and move up the global value chain, given the shift in maritime dynamics. The rise in Container Availability Index values at Nhava Sheva from 0.73 to 0.76 within a week is another great indication for the same. However, on the other hand, India’s dependence on the port of Colombo, which handles around 50% of Indian transshipment cargo, is also being highlighted.