News / 'Bad apples' in forwarding create 'spot rate black market' in India

Unscrupulous forwarders in India are taking advantage of “desperate” shippers, using inside information from shipping lines to create a “black market” for spot bookings, it is claimed.

Container shipping’s worst-ever capacity crunch has led to skyrocketing freight rates and a sold-out spot market, said Rakesh Pandit, CEO of Pune-based Conbox Logistics.

He added: “And freight rates aside, we have reached a situation in India where there are no spot bookings available on routes to Oceania, West Africa, and North and South America. ...