date:Jul 21, 2023
two weeks ago.
Indian export rates to the Mediterranean have also cooled, down to US$650/20-foot box, from US$750, and US$600/40-foot, from US$700.
The persistent rate erosion reflects heightened cargo pressure carriers are facing to fill vessel capacity, which they had significantly expanded to meet stronger-than-expected cargo flows following pandemic-induced demand swings.
With no hopeful signs for carriers to halt the slide or prop up rates, it remains to be seen if their intended freight