Seafood exporters in troubled waters as shipping freight rates see 5x surge

India's seafood export industry, valued at $7.26 billion, is facing significant challenges due to a sharp rise in shipping freight rates. The Seafood Exporters Association of India (SEAI) has highlighted a surge of 4-5 times in rates within two months, attributing it to increased container demand in China ahead of US tariffs effective August 1. Freight rates from Chennai to Los Angeles have soared 255% to $10,500 per tonne, impacting exporters who cannot pass these costs to buyers under existing contracts, leading to potential losses amidst global competition.