A trend of container freight rates stabilising or softening on larger trade routes out of India became evident in April. According to a new analysis by Container News, the trend has continued into May.
Average westbound contract rates on the India-Europe trade have marginally dropped from the levels seen at the end of April. From West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (United Kingdom), rates are now at around US$7,615/20-foot container and US$8,015/40-foot container, down from US$7,765 and US$8,145, respectively, in April.
For ex-West India-to-Rotterdam movement, rates have fallen to about US$7,015 per 20-foot container and US$7,045 per 40-foot container, from US$7,415 and US$7,445, respectively.
Eastbound rates are also at the same levels as they were at the end of April -- at US$1,925/20-foot container and US$2,045/4-foot container for cargo shipped from Felixstowe/Rotterdam to West India.
Source: container-news.com