• West Africa bulk cargo stems remain steady, fixtures slow down
• Vessel attacks, cancelled insurance may lift rates further by 10%

India’s rice export freight market showed mixed trends during 11 March 2026, with rates on West Africa bulk routes firm while container shipments from west coast ports faced disruptions amid rising bunker prices and Middle East tensions.

A freight forwarder told BigMint, “Freights have already increased significantly due to disruptions, and exporters are seeking waiver of demurrage and storage charges as delays continue to impact shipments.”

Meanwhile, Jawaharlal Nehru Port Authority (JNPT) has announced relief for exporters affected by the Middle East conflict, including a 100% waiver on ground rent/dwell charges for 15 days, an 80% waiver on reefer plug-in charges, and extended storage with additional yard space for stranded containers.

Bulk market: West Africa routes firm, fixing activity slow

Freight sentiment for rice shipments from India’s east coast to West Africa remained firm amid steady cargo stems and stronger Supramax sentiment, while rising bunker prices and security concerns pushed owners to seek higher rates, keeping exporters cautious.

A market source said, “Fresh cargo stems are in the market, but owners are pushing for higher freight due to bunker prices, while charterers remain cautious with little urgency to fix.”

Another source highlighted, “I have over 20 cargoes in the market from Kakinada but am unable to fix them due to high bunker prices. The market is currently in wait-and-watch mode.”

Container market: Gulf route disruptions push surcharges higher

Containerised rice shipments from Indias west coast were disrupted as shipping lines imposed emergency surcharges amid geopolitical tensions, leaving 40,000-45,000 containers stranded and tightening availability.

A rice ship broker said, “Gulf routes remain closed, with shipping lines imposing Emergency War Surcharge (EWS) and General Rate Increase (GRI). Further GRIs are expected for West Africa from mid-March and again from April, depending on crude prices.”

Freight market: Vessel attack and bunker surge push rates higher

Freight market sentiment remained highly volatile amid surging bunker prices and rising security risks in key shipping corridors.

A ship broker said, “MV Mayuree Naree, en route to Kandla to load rice, was attacked despite sailing in a US Navy convoy, with three of the twelve vessels reportedly hit — an incident that could push freight rates higher across routes.”

Rice market: Freight volatility slows buying activity

Trading activity in the rice export market has slowed despite available cargo stems, as freight volatility and shipping disruptions prompt buyers to delay purchases pending clarity on freight and security conditions.

Outlook

Freight sentiment in India’s rice export market is likely to remain volatile amid rising bunker prices, security risks, and geopolitical tensions, with another vessel attack and cancelled insurance expected to push rates up by around 10%, sources mentioned.

Published Date: March 12, 2026