Container freight rates stay elevated; Inter-Asia freight rates up 400%

Freight rates for containers bound to the US and European markets from India are 300 percent more expensive in the last four months. Inter-Asia movement for containers from India to countries like Taiwan, Malaysia, and Singapore have quadrupled since October.

The equipment imbalance in the US and Europe is leading to containers being stuck at ports. Export from the US and Europe into Asian markets too remains weak. Hence, shipping lines are moving back empty containers at extra cost.

However, a correction in freight rates is expected to start from February-end or early March onwards.

CNBC-TV18’s Alisha Sachdev gets more details on the increasing container freight rates.
Source: CNBCTV18