Container carriers serving Indian trades continue to face steep freight rate declines amid a weakening demand outlook that industry observers believe will only worsen in the days ahead, according to a new market analysis by Container News.
On the westbound India-Europe trade, average contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) or Rotterdam (the Netherlands) crashed to US$1,300 per 20-foot container and...