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• Increase of Freight Rates on Indian Subcontinent

• Container shipping lines are planning to increase the freight rates which was stagnant for a long time in spite of increase in fuel costs and reduced earning due to decrease in volume, to cover the operating cost including continuous increase of cost of bunker or fuel costs. The cost of products/merchandise shipped is expected to increase due to increase in the freight rates. The quantum of increase of freight rates would depend upon market conditions. This information was given by the Union Minister of Shipping, Shri G.K. Vasan in a written reply to a question in Rajya Sabha today.

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