Gemini carriers cut back loading allocations on challenging southern India trade
Southern India’s ocean trade continues to be a challenging market for both Maersk and Hapag-Lloyd, ...
By Sam Whelan
With the severe shortage of containers and capacity, Indian forwarders are being quoted “crazy” freight rates by carriers that “won’t honour” contracts.
According to the Federation of Indian Export Organisations (FIEO), there has been an “exorbitant” rise in rates since the Covid-crisis began.
“A 40ft container to the US before Covid cost $2,000, now it is between $6,200 and $6,500,” it said.
And rates to Europe have increased from $1,200 to $5,000, FIEO added, while the West Africa market has seen a 600% ...
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