News / Indian intra-Asia freight rates tumble, even into negative territory

The steep post-Covid rate erosion on container trades seems more pronounced for contracts from India to key Asian intermediate ports like Port Kelang and Singapore, according to industry sources.

Bookings from Nhava Sheva (JNPT) or Mundra to Port Kelang are being accepted at as low as $1 per teu. The two ports account for the majority of India’s containerised trade.

For Singapore, carriers are willing to ship at $5/teu, while average rates for Indian shipments to ...