China-India rates ease but port delays still a strain on services

Rates for containers moving from China to India have begun to cool as seasonal import demand, associated with India’s festival-driven consumption, loses momentum.

New data secured by The Loadstar points to a 10%-20% decline in spot rates for bookings from major Chinese load ports to India, particularly JNPA (Nhava Sheva) on the west coast and Chennai on the east.

For example, Indian importers are now able to book a 40ft shipment from Shanghai to JNPA at about $3,200 per box, down from about $3,800 a month ago. Likewise, rates ex-Shanghai to Chennai have dropped to $3,200 per 40ft from $3,900.

Ocean rates from other Asian hubs like Hong Kong and Singapore to India have also begun to trend down, after remaining elevated over the past two months, according to the data.

This story was originally published by The Loadstar. Read the full story at The Loadstar →