News / Double-digit slide in ocean freight rates out of India to Europe

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Average contract rates of major container carriers for westbound bookings from India to Europe have dropped by double digits this month from the levels reported in June.

According to exclusive data collected by The Loadstar from carrier/freight forwarder sources, the cost of shipping a 20ft container from Nhava Sheva/JNPT or Mundra to London Gateway is now $5,240, 13% less than $6,009 a month ago.

For a 40ft box, rates are down to $5,940, from $7,141 – a decrease of almost 17%.

For West India-Rotterdam, ...