News / Shippers say easing of India rates is 'calm before peak season storm'

Credit Adani Group.

Cargo owners in India believe the easing of container freight rates across the major tradelanes in June will be short-lived, with the peak season hitting in July.

After months of sky-rocketing rates and acutely tight equipment supply, freight forwarder sources said average contract rates for North America, Europe and intra-Asia routes had seen double-digit declines this month.

Costs for exports from the ports of Nhava Sheva (JNPT) and Mundra on India’s west coast to the US east coast (New York) are down ...