Container freight rates on trades out of India have begun to cool after the Red Sea crisis-driven rocketing, according to the latest market analysis by Container News.
On the westbound India-Europe trade, average short-term contract rates for 20-foot container bookings from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) have dropped to US$2,750 per 20-foot container and US$3,100 per 40-foot container, down from US$3,600 and US$3,900,...