News / Boost for India's exports as global supply chain 'reorients itself'

The first round of a $500-per-box general rate increase (GRI) on 29 March for India-US shipments has paid no dividends for ocean carriers, according to industry sources.  

Nearly three weeks on, average rates on the largest tradelane for India by value have not only not risen, but some have cooled further. 

Sources said major carriers continued to accept bookings out of Nhava Sheva/Mundra at the same contract rates as last month – about $1,600 per teu for the US east and west ...