OCEAN capacity pressures stemming from widespread late vessel arrivals and occasional port call skips have reversed the declining trend in container spot rates on the India-Europe trade route, reports New York's Journal of Commerce.
Following a consecutive decline over the past two months, average spot rates on this trade route have now increased US$100 to $200 per container per week, as reported by freight forwarders, according to new data obtained by New York's Journal of Commerce.
Simultaneously, the significant disparities among quoted rates from carriers have notably narrowed. In some instances, carriers are offering rates per FEU that are lower than those for a TEU bookings, indicating their strategies to sell space in a disrupted market.
'The ongoing problematic capacity is causing this rate uptick,' said a Mumbai-based forwarder.
'We could see this volatility as the disruption persists.'
SeaNews Turkey
Following a consecutive decline over the past two months, average spot rates on this trade route have now increased US$100 to $200 per container per week, as reported by freight forwarders, according to new data obtained by New York's Journal of Commerce.
Simultaneously, the significant disparities among quoted rates from carriers have notably narrowed. In some instances, carriers are offering rates per FEU that are lower than those for a TEU bookings, indicating their strategies to sell space in a disrupted market.
'The ongoing problematic capacity is causing this rate uptick,' said a Mumbai-based forwarder.
'We could see this volatility as the disruption persists.'
SeaNews Turkey
