On 28 September 2026, The Loadstar’s Angelo Mathais reported that China–India container spot rates have more than doubled since July as vessel space tightened after capacity shifted toward higher-paying east–west trades. Shanghai to JNPA (Nhava Sheva) averaged about $3,700 per TEU and roughly $3,850 per 40ft—up about 20% since end-August. Shanghai to Chennai was about $3,600 per TEU and $3,900 per 40ft, up about 25% month on month.
Trade volumes underpin the squeeze. India imported $132 billion of goods from China in FY2025-26, up 16% year on year. In the first five months of the current fiscal year through August, imports were about $65 billion, up 27%. Drivers include Production-Linked Incentive (PLI) demand for intermediates, electronics and machinery, plus festival-season front-loading. Triton Logistics CEO Jitendra Srivastava described an “industrial paradox”: rising import need colliding with scarce Asia–India space.
Some new capacity is arriving. TS Lines is launching CWX2 with a Shanghai–Ningbo–Shekou–Port Klang–JNPA–Hazira–Mundra rotation on a 42-day round-trip. CULines is expanding after SeaLead’s exit from the corridor. For China-origin programmes into India, treat the lane as constrained and premium: lock bookings early and fold ocean freight into dual-source landed-cost models rather than assuming July prints will return quickly.