Exports to US costlier due to port clogging, freight cost rise: TPCI

New records have been hit in container freight spot rates of all carriers as the Asia-Europe route rates continue to rise and are currently approaching $9,000 per twenty foot equivalent unit (TEU), with further rises expected this month, says the Trade Promotion Council of India (TPCI), which attributed the surge to clogging at major US ports, thereby disrupting the supply chain.