Nhava Sheva rates jump 31% as global ocean market splits
Xeneta data shows India export pricing rising sharply, even as US demand lifts key lanes and weaker cargo volumes continue to push Europe-bound rates lower.
Nhava Sheva recorded a strong rise in ocean freight rates, increasing 31% month-on-month and 44% over a longer comparison period, according to the latest weekly market update from Xeneta. The jump highlights growing pricing pressure on shipments moving out of India’s key container gateway.
This increase comes at a time when global container shipping markets are showing mixed trends across major trade lanes. While some routes are seeing rising demand and higher prices, others continue to weaken due to softer cargo volumes.
Across the broader market, rates from the Far East to the United States moved up sharply. Prices to the US West Coast rose 21% month-on-month to USD 2,864 per FEU, while rates to the US East Coast increased 19% to USD 3,873 per FEU. This indicates stronger demand for cargo moving into the US.
In contrast, shipments from the Far East to Europe saw a decline. Rates to North Europe fell 10% to USD 2,528 per FEU, while those to the Mediterranean dropped 15% to USD 3,567. This suggests that demand on these routes is not strong enough to absorb available shipping capacity.
A similar trend of tightening conditions is visible on certain return routes, known as backhaul trades. These are typically cheaper because ships often carry fewer goods on the return journey. However, rates from North Europe to the US East Coast rose 45% to USD 2,188 per FEU, showing increased demand even on this leg.
According to Peter Sand, the market is clearly moving in different directions depending on the region. “We are seeing a clear strengthening in demand on US-bound trades, which is pushing rates up at a faster pace compared to other regions,” he said.
He added that Europe-bound routes are facing a different situation. “The drop in spot rates into North Europe and the Mediterranean indicates that demand is not keeping pace with capacity on these trades,” Sand noted.
Overall, the sharp increase in rates at Nhava Sheva stands out against this mixed global backdrop, pointing to stronger pricing dynamics on certain origin points even as other parts of the market remain under pressure.