Container News' latest market analysis indicates a continuation of the downward trend in container freight rates from India, following the peaks caused by the Red Sea crisis. Specifically, the westbound India-Europe trade lane has seen a decrease in average short-term contract rates for both 20-foot and 40-foot containers from West India ports to UK destinations in April, with rates now at US$2,700 and US$2,800 respectively.
Similarly, rates to Rotterdam have shown stability for 20-foot containers but a decline for 40-foot containers. The West India-Genoa route also experienced a reduction in rates for both container sizes.
Eastbound cargo rates into India from these European ports have likewise moderately decreased. Specifically, rates from Felixstowe/London Gateway and Rotterdam to West India have seen reductions. The analysis also covers the India-US trade lanes, where April has witnessed a general downward correction in rates, except for the West India-US Gulf Coast route, which saw an increase in rates for both container sizes.
Source: container-news.com