Container rates have spiked 58 per cent in July compared with June.

The oneway pickup cost skyrocketed 200 per cent in August from July because of shipments for Christmas, according to Container xChange, an operating platform for container logistic companies.

India has been appearing on the list of costliest ports for both 20 ft DCs (dry containers) as well as 40 ft HCs (high cube containers).

Ajai Sahai, DG and CEO, Federation of Indian Export Organisations, told The Telegraph: “The spike in container rates would have a significant impact on low value and high volume goods such as readymade-garments, cotton yarn and fabric.

However, with demand in the US and Europe coming down due to economic slowdown, we expect the container rates to fall in the coming months.

The current rates seem to be seasonal as shipment for Christmas is taking place.”

Export-import data

The finance ministry has made the unauthorised publication of import-export data a compoundable offence, wherein an offender can avoid prosecution by paying a Rs 1 lakh compounding amount.

The budget for 2022-23 inserted Section 135AA in the Customs Act that made unauthorised publishing of information, like value or quantity, relating to export or import a penal offence.