In recent months, India's container traffic has slowed, and according to industry observers, this new trade pattern largely reflects a weak demand for vacant equipment imports fell sharply, rather than continued export trade.
In order to expand the port's round-trip trade restructuring, Nhava Sheva Port (JNPT) exported 237,952 TEUs and imported 219,875 TEUs in June, compared with 232,881 TEUs and 250,201 TEUs respectively in the same period last year. For the port's first fiscal quarter (April to June), these figures are 759,910 TEUs and 732,807 TEUs, respectively, compared to 718,850 TEUs and 730,341 TEUs for April to June 2022.
According to available data, during the period from April to June, the number of empty containers exported from Navasheva was about 180000 TEUs, while the number of empty containers imported was about 93000 TEUs. In June, India's container freight volume fell by 12.5 from the previous month, and the import and export container volume of Indian Railways also fell by 11% year-on-year. A careful analysis of the country's port data reveals another obvious fact: India exports more than it imports.
Carrier news said that the busy port yard is currently empty container clogged, can be said to be in the pandemic caused by the export flow increase peak significant inventory consolidation residual effect.
operators need to undertake a massive no-load repositioning to address equipment shortages in India, a chronic deficit region. But more outbound freight does not mean economies of scale, as most empty containers destined for India occur on intra-Asian routes, while freight rates for exports from India to Asia have been hit hard, falling a further 50% this month, with freight rates for Shanghai orders falling to $10 per TEU and Singapore shipments to $5 per TEU. A year ago, the average export price for these port pairs was $400/teu.
Shipping companies serving Indian trade are now pinning their hopes on more modest growth after failed to raise the GRI sharply. Hapag-Lloyd announced that from August 1, the container freight rate from India to the east coast of the United States will be increased by $200 per TEU. MSC is also considering raising container freight rates on India-US routes by US $500 per TEU from August 1. To ensure service quality and meet customer needs.
The alliance composed of RCL, PIL, Evergreen and CUL upgraded the China-India route with larger ships with an average capacity of 6,000 TEUs, compared with 3,000 TEUs before, and in Shanghai, Ningbo and Karachi. Three more port stops, the first voyage is planned for July 17.
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