Container rates increase from Indian ports on to major routes

Early peak season bookings and capacity disruptions have caused container rates skyrocket. On the India-Europe trade lane, short-term contract rates for bookings from JNPA/Mundra to Felixstowe and Rotterdam Ports in Europe have climbed to $4500 per forty feet containers and $4300 for a 20 feet container. While spot rates gains have remained relatively steady for bookings from Felixstowe/London Gateway to West India, at US$1,300/TEU and US$1,450/FEU, Rotterdam-West India rates have ticked up to US$1,300/TEU and US$1,450/FEU, from US$950 and US$1,400/FEU, respectively, reported at the end of June.