News / Freight rates on major ocean trades out of India continue to slide

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There seems to be no immediate halt to the freight rate slide on the larger tradelanes out of India, as head-haul volumes for container carriers remain increasingly tight, say industry observers.  

Spot rates on the India-US east coast trade have plunged below $3,000 per teu from a high of more than $10,000 three months ago in July.  

And rates on India-Europe routes have more than halved in two months, down to about $2,000 per teu from $5,000 in August.  

These ...