NEWS: The Loadstar - Indian intra-Asia Freight Rates Tumble

The Loadstar

 

The steep post-Covid rate erosion on container trades seems more pronounced for contracts from India to key Asian intermediate ports like Port Kelang and Singapore, according to industry sources. Bookings from Nhava Sheva (JNPT) or Mundra to Port Kelang are being accepted at as low as $1 per teu. The two ports account for the majority of India’s containerised trade.

For Singapore, carriers are willing to ship at $5/teu, while average rates for Indian shipments to Shanghai and Hong Kong have also sunk, to about $10/teu. Freight forwarder sources noted that, in real terms, cargo is often booked at “no freight cost”, but has to be invoiced for a nominal freight amount for insurance reasons.

Read more here. . . Indian intra-Asia Freight Rates Tumble