TWO rounds of general rate increases (GRI) on India-US trade routes have been unsuccessful in arresting the decline of US east and west coast rates, reports New York's Journal of Commerce.
Rates from Nhava Sheva/Mundra to the US east coast have dropped nearly 20 per cent from the levels reported at the end of May, to US$1,382 per TEU and $1,632 per FEU, from $1,700 per TEU and $2,100 per FEU.
For the India-US west coast trade, the downward correction has been about 15 per cent for a TEU and seven per cent for an FEU, hovering at $1,371 and $1,682 respectively.
SeaNews Turkey
Rates from Nhava Sheva/Mundra to the US east coast have dropped nearly 20 per cent from the levels reported at the end of May, to US$1,382 per TEU and $1,632 per FEU, from $1,700 per TEU and $2,100 per FEU.
For the India-US west coast trade, the downward correction has been about 15 per cent for a TEU and seven per cent for an FEU, hovering at $1,371 and $1,682 respectively.
SeaNews Turkey
