Container freight rates from India have continued to decrease in September, driven by a slowdown in exports. According to an analysis by Container News, rates on key trade routes from West India to Europe, the U.S., and Asia have experienced significant reductions compared to previous months.
Decline in India-Europe and India-US Freight Rates
Freight rates on the West India-Europe route dropped by around 14.9% for both 20-foot and 40-foot containers. Similarly, on India-US East and West Coast trades, average rates saw substantial declines, falling from US$8,000 and US$9,000 per TEU and FEU in August to around US$5,100 and US$5,200 in September.
Eastbound Imports to India Show Modest Rate Increases
While export rates have fallen, eastbound imports into India have slightly increased. For example, rates from Felixstowe to West India have risen by US$100 per TEU and US$150 per FEU month-on-month. However, rates from the US West Coast to West India have seen a decrease.
Intra-Asia Trades Remain in Negative Territory
Intra-Asia trades from West India to China and Singapore remain weak, with carriers accepting bookings at extremely low prices, sometimes as low as US$5 per TEU or FEU. Rates to Jebel Ali (Dubai) have also weakened month-on-month, with slight declines reported.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Container News
