December 11th, 2025 – Ocean carriers moving cargo between India and Europe, after dealing with steep rate declines in recent months, saw conditions shift in their favor in December as available capacity tightened. Local freight forwarders report that average freight-all-kinds (FAK) rates on this trade have increased by $300 to $500 per FEU compared with last month.
Booking levels from West India (Nhava Sheva and Mundra) to North Europe (Felixstowe and London Gateway) now range from $1,100 to $1,400 per FEU, depending on the carrier. This marks a notable improvement from early November, when rates had slipped to $800 to $900 per FEU— their lowest point in two years.
Forwarders in Mumbai attribute the December rate gains mainly to reduced capacity following several blank sailings, including CMA CGM’s Epic service and Ocean Network Express’ IOX loop. They describe the recent upward movement as a welcome recovery for carriers after several months of steady declines, though demand remains unpredictable. There are also signs that India’s seasonal grape export season, which normally begins in January, may start later than usual.
Carriers are also moving ahead with fresh mid-month rate increases on India–North Europe and Mediterranean shipments. Hapag-Lloyd, for example, has notified customers of a $200 per TEU/FEU increase on exports from Nhava Sheva, Mundra, Ennore, and Chennai, effective December 16th.
At the same time, the Gemini Cooperation is expanding the port rotation on its India–Europe service. The loop, known separately as ME1 for Maersk and IOS for Hapag-Lloyd, will add a call at Wilhelmshaven, Germany, starting in late January. The updated rotation will run Jebel Ali, Mundra, Nhava Sheva, Salalah, Tanger Med, Rotterdam, Wilhelmshaven, Hamburg, London Gateway, Tanger Med, Salalah, and back to Jebel Ali.
