In November, short-term contract rates from West India to Felixstowe/London Gateway or Rotterdam have fallen to $450 per 20-foot container and $550 per 40-foot container, compared to October-end rates of $600 and $675, respectively, says an article published on container news website.
West India-Genoa Bookings, October Contract Rate Reductions
October contract rates for West India-Genoa (West Mediterranean) bookings dropped to $425/TEU and $550/FEU from $550/TEU and $600/FEU.
Eastbound Cargo Rates, Import Trends Into India
Eastbound cargo rates for port pairings like Felixstowe/London Gateway to West India and Rotterdam to West India have increased in November.
West Mediterranean To West India, November Rate Movements
Rates for November from the West Mediterranean (Genoa) to West India have moved up, reaching $450/TEU and $650/FEU from October rates of $350/TEU and $500/FEU.
India-US Trades, Persistent Cargo Pressure In November
Short-term contract prices in November have cooled for shipments from West India to the US East Coast (New York) and US West Coast (Los Angeles).
West India-US Gulf Coast Trades, Recovery And Stability
Rates for the West India-US Gulf Coast trade have seen a recovery to $1,850/TEU, while FEU rates have held firm at $2,350/FEU.
US-India Trades (Return Leg), November Softening Rates
Rates have softened in November for cargo moving from the US East Coast to West India and US West Coast to West India.
US Gulf Coast To West India, August Average Rates Drop
August average rates from the US Gulf Coast to West India have dropped to $700/TEU and $1,000/FEU.
Intra-Asia Trades (Out of India), November Declines
November has seen declines in short-term contract rates for intra-Asia trades out of India.
Indian Cargo To Singapore And Hong Kong, Continued Slide In November
Rates continue to slide, with carriers accepting bookings as low as S$5 for both TEU and FEU.
India-Middle East Trade, Sunk Rates Persist
Rates remain low on the India-Middle East trade due to significant capacity additions.
Export Recovery, Positive Indications In October
October shows positive indications with a 6.2% YoY rise in Indian outbound merchandise trade value.
Geopolitical Impact, Limited Effects Expected
Geopolitical tensions in West Asia are expected to have limited effects unless escalated.
Overall Market Outlook, Dynamic Conditions In November
The analysis highlights ongoing rate declines on various Indian trade routes, reflecting dynamic market conditions. Continuous monitoring is advised.
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Source: Container news
