Softening export demand sends ocean rates crashing on India-Europe trade | Journal of Commerce

Spot rates on the westbound route, India’s largest trade lane by volume, have nearly halved in the last two weeks, according to new data obtained by the Journal of Commerce.

Ocean carriers have so far been unable to stem the rate slide in the traditionally slow post-Golden Week period that followed an early peak season on the trade lane, but they are pulling hard on capacity management levers in a bid to balance supply and demand.

Rapid urbanization and strong economic growth are driving project cargo volumes in India, although heavier cargoes are becoming harder to handle due to port equipment and infrastructure limitations.