Shanghai–Jawaharlal Nehru Port rate falls 11% to $3,370 per 40ft

Market Context & Direct Impact

Shanghai to Jawaharlal Nehru Port fell 11% to $3,370 per 40ft in the week to 15 October, but the wider intra-Asia market remains far above last year. Drewry's Intra-Asia Container Index eased 3% to a composite $1,453 per 40ft and is up 198% year on year, so the weekly dip is a short-term move rather than a reset. The India lane's drop followed easing congestion, with average vessel waiting time at Jawaharlal Nehru Port falling from 42 to 24 hours in week 41. Drewry's rates exclude origin and destination terminal handling charges, so buyers comparing India with China or Vietnam must add those costs first. On the India lane, the 15 October level sits about 42% above the June reading, an implied figure derived from Drewry's two published rates.

Fuel costs and China dependence keep the India sourcing math tight. Brent crude has stayed above $100 a barrel since early September, and CMA CGM added a $75 per TEU emergency fuel surcharge on intra-regional trades from 1 October, according to The Loadstar. SCMP's opinion columnist Keji Mao argues India has not reduced its reliance on Chinese supply chains, and the bilateral trade deficit widened from US$44 billion in FY 2020-21 to US$112.1 billion in the year to 31 March. The counter-fact is that Indian exports to China rose almost 40% in the five months through August, per a Bloomberg analysis of government data. Indian importers also reported rate shocks and unpredictable sailings in an 21 August Loadstar report.

Core Executive Takeaways

• Dip is no discountThe 3% weekly fall sits on a rate level still 198% above a year earlier, so budget against the annual trend, not the headline move.
• Price landed, not freightDrewry's benchmark excludes terminal handling, so add origin and destination charges before ranking India against China or Southeast Asia.
• Reliability is a costShippers importing into India report that vessel availability and sailing schedules now move inventory planning as much as rates.

Strategic Playbook

1. 1
   Rebuild the India quote

   Load terminal handling and inland costs onto the Shanghai to Jawaharlal Nehru Port lane, use the $3,370 per 40ft Drewry rate as a checkpoint, and re-price every month.

2. 2
   Buy schedule, not just rate

   Write sailing-reliability terms and buffer days into India lane contracts, and hold extra inventory on China-to-India flows until vessel schedules stabilise.

Filed 15:26 GMT, 18 October 2026, for the second edition of 18 Oct.
As agents only.

Sources

1. Drewry - Intra Asia Container Index - 15 OctDrewry Supply Chain Advisors, published 15 October 2026
2. Tradelanes: Intra-Asia freight rates ease after post-Covid highThe Loadstar, published 9 October 2026
3. Drewry Intra-Asia Container Index hits record high as freight rates surgeContainer News, published 8 June 2026
4. Rate shocks on services from China add to Indian importers' woesThe Loadstar, published 21 August 2026
5. India's Surprise Growth Market Is China But Trade Deficits SwellBloomberg, published 21 September 2026
6. India needs to make up its mind about economic ties with ChinaSouth China Morning Post, published 1 September 2026

Claims ledger: 13 facts and where each comes from

• Drewry's Intra-Asia Container Index eased 3% to $1,453 per 40ft container in the 15 October 2026 assessment.¹
• Shanghai to Jawaharlal Nehru Port spot rates fell 11% to $3,370 per 40ft container.¹
• Rates on the Shanghai to Jawaharlal Nehru Port lane declined as congestion eased at those ports.¹
• Average vessel waiting time at Jawaharlal Nehru Port fell from 42 to 24 hours in Week 41.¹
• The Drewry Intra-Asia index is up 198% year on year.¹
• Drewry's freight rates exclude origin and destination terminal handling charges.¹
• Shanghai to Jawaharlal Nehru Port rates rose 35% to US$2,367 per 40ft container in Drewry's 8 June 2026 update.³
• Derived: about 42% above the June level; inputs are $3,370 per 40ft (15 October, Drewry) and $2,367 per 40ft (8 June, Drewry).¹
• Brent crude has remained above $100 per barrel since early September, and CMA CGM introduced a $75 per TEU emergency fuel surcharge on all intra-regional trades on 1 October 2026.²
• Indian importers continue to face freight rate shocks, with changing vessel availability, sailing schedules and transit times affecting inventory planning and costs, per a Jassper Shipping executive quoted on 21 August 2026.⁴
• India's bilateral trade deficit with China widened from US$44 billion in FY 2020-21 to US$112.1 billion in the year ended 31 March.⁶
• In an opinion column, SCMP's Keji Mao wrote that India has neither reduced its reliance on Chinese supply chains nor built an autonomous industrial base.⁶
• Indian exports to China rose almost 40% in the five months through August 2026, per a Bloomberg analysis of government data.⁵

Every figure above is tied to a cited source that was checked on the day of filing. Found an error? Tell the desk.