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With export volumes slipping amid global demand growth woes, container lines serving Indian trades are putting new rate hike plans for the traditional peak season on the back burner.
MSC has pulled back from issuing its general rate increase (GRI) and peak season surcharge (PSS) notices this month on the India-U.S. trades, while other liners have, tactically, kept themselves out of the pricing race, thus far.
After carriers managed to hold rates at elevated levels over the past two months, new industry data suggests they have now begun to implement measurable contract/spot price reductions for Indian bookings to U.S. base ports, in order to optimize vessel space allocations for the region.
Read more in an article from The Loadstar.