News / Pessimistic box lines cancel India-to-US GRIs and peak surcharges

© Oana Ungureanu |

Container lines seem to be giving up hope of raising freight rates for loads from India to the US, as the market is showing no uptick in volume.

Traditionally, carriers wield the most bargaining power during the peak shipping season that gets under way in August. But this year has proved muted for them, after the rate slide began in the middle of last year.

And pessimism is prompting carriers to “undo” rate increase notices already sent out, even though the “asks” ...