MSC restarts Indus Express service from India to US East Coast amid rising demand and soaring spot rates.
Mediterranean Shipping Co. will resume its Indus Express service from India to the US East Coast in mid-August after a sharp rebound in booking demand, reported the Journal of Commerce.
Industry sources said the Geneva-based carrier is reinstating the weekly loop just a month after suspending it, as spot rates on the trade have jumped 84 percent in four weeks.
Executives told the Journal that MSC has approached major customers about a possible ad hoc sailing in late July to retain volumes and has sought a fixed-day berth at Nhava Sheva Port. MSC already has berth flexibility at Mundra through its own terminal.
The suspension of Indus Express, combined with increased sourcing by US importers, tightened capacity and drove rates higher. Other carriers have also cut back on Indian calls, with Ocean Network Express and CMA CGM voiding sailings.
A European carrier executive said booking demand for North America has surged to 15,000-18,000 per week, compared with the usual 7,000-8,000. Another source noted that the rapid turnaround highlights volatility in supply-demand fundamentals.
Platts pegged India-US East Coast spot rates at US$4,067 per FEU on July 1, up 11 percent week-on-week, compared with $2,210 on June 5. Sources indicated that late-July Nhava Sheva-New York sailings are near $5,500 per TEU and $6,000 per FEU.
