Container carriers serving Indian trades are seeing no letup in the erosion of export freight rates amid a slowdown in cargo volumes, according to the latest 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) have dropped to US$950 per 20-foot container and US$1,050 per 40-foot container, from US$1,000 and U$1,100,...