Mumbai - Freight rates have surged nearly 70% year-on-year in Aug across Indian ports, reflecting global shipping disruptions, sustained demand and capacity constraints, which will add to the cost burden of India Inc. The increase comes after a gap of over two years.
Average prices for 40ft high cube cargo-worthy containers surged quarter-on-quarter this year from $2,600 in Q1 (JanMarch, 2024) to over $2,800 in Q2 (April-June, 2024) across domestic ports, including Chennai, Nhava Sheva and Mundra, industry experts said.
So far, the third . . .
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