U.S.-India rates rise 25% to 30% in recent months
Ocean freight rates between India and the United States are up 25 percent to 30 percent over the past few months as fuel surcharges and peak season surcharges kick in on contracts signed between American retailers and their shipping lines, Live Mint reported Sunday.
“The rate for shipping a container to the U.S. is currently $2,100-$2,200, up from about $1,600-$1,700 a few months ago,” the newspaper reported. “The rates, however, are still lower than the high of $2,500-$2,600 seen in 2006.”
The higher rates are seen as crucial for shipping lines that are incurring ever-higher fuel costs. The robust rates are also inducing more direct calls between U.S. and Indian ports, the report said.