MSC junks India-US rate push as market stays soft despite peak ... - India Shipping News

Mediterranean Shipping Co. (MSC) has cancelled a rate increase that was set to begin on August 15th for shipments from India to the US and Puerto Rico. The cancellation reflects the difficulty of pushing through rate increases with no demand pickup. India's export trade continues to decline, with July showing a 16% year-over-year decrease. However, the Federation of Indian Export Organizations (FIEO) believes that demand will soon turn around, leading to a rally in Indian export trade. Carriers are currently struggling to secure enough bookings to fill vessel space out of India.

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