The market outlook for container carriers operating on India-Europe trades appears to be darkening with no let-up seen in the freight rate erosion.
Average rate levels on the trade lane have hit new lows over the past week, compared with the averages reported earlier this month.
According to market sources, booking rates from Nhava Sheva (JNPT) or Mundra in India to Felixstowe or London Gateway in the United Kingdom have slumped to US$550 per TEU and US$600 per FEU, down from US$650 and US$700...