Container freight rates on Indian trade lanes remain stable

Average container freight rates for all major trade in India except intra-Asia trade were unchanged this month from levels maintained by major carriers in June, according to new industry data collected by Container News.

India to US East Coast/West Coast/Gulf Coast contract prices for cargoes held steady from June levels – bookings to US East Coast (New York) averaged $8,317 per 20ft box and $10,500 per 40ft box, Cargo prices for the US West Coast (Los Angeles) were $10,250 each.

For the West India-U.S. Gulf Coast trade, prices hovered around $9,150 per 20 feet and $11,500 per 40 feet.

From US East/West/Gulf Coast to West India (Nhava Sheva/Mundra), return rates offered by major liner companies have dropped by an average of 10% to 15%.

Rates for India-Intra-Asia/Far East trade rose this month compared to June’s trend, due to reduced shipments from some hub ports in the region, causing capacity pressure, and the recovery from China’s lockdown. sudden demand.

For cargo loads from West India to South China (Yantian), average shipping rates are currently $550/$20 box and $850/40ft box, up from $450 and $700 a month ago.

Data analysis shows that for western India, carriers are accepting bookings at around $2,550/20ft and $4,550/40ft, compared to $2,150 and $4,050 in June.

With the industry heading into a typical peak demand season, Indian shippers are bracing for rate hikes, especially on the Indo-US trade.

Meanwhile, invalid calls and port call changes remain major concerns for Indian exporters/importers. Ports in southern India, which handle the bulk of transshipment volumes in the region, are facing a shortage of containers due to disruptions at the Sri Lankan port of Colombo.