A few points
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The latest Drewry WCI composite index (global container prices) of $1,479.48 per 40-foot container is now 86% below the peak of $10,377 reached in September 2021. see
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There is no sign of recovery. Significant new capacity is being added. see Glut of new ocean tonnage inbound as global demand weakens | Journal of Commerce. Vessels on order will add 30% to global container freight capacity over the next three to four years, says Niels Rasmussen, chief shipping analyst at Copenhagen-based trade group Bimco.
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India is lifting cabotage laws, that previously only allowed Indian-flagged ships from the likes of Shreyas to operate on coastal routes in the past. https://splash247.com/india-lifting-cabotage-laws-to-help-coastal-shipping/
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