The Hindu Business Line : IPBCC hikes freight rates

EXPORTERS and importers from India will now have to cough up additional freight charges, with the IPBCC (India Pakistan Bangladesh Ceylon Conference), which includes some of the world's largest liner operators, announcing a "rate restoration" with effect from June 1, 2004.

In the westbound traffic, from Mumbai, Mundra, Kandla and Karachi to the UK, North Continent, Scandinavian, Baltic and Mediterranean ports, the conference rate increase is $150 per twenty-foot equivalent units (TEUs) and $300 for forty-foot equivalent units (FEUs).

In the East bound traffic, from the UK, North Continent, Scandinavian and Baltic ports to India, Pakistan, Bangladesh and Sri Lanka, the rate increase is $100 per TEU and $150 per FEU. The increased rate will be valid up to September 30, 2004.

According to Mr David J. Halliday, IBPCC Chairman, the member lines will implement further increases during the remainder of the year in both the eastbound and westbound trades and the quantum of increase will be advised in due course. "Furthermore, the High Cube additional for both eastbound and westbound cargoes will be increased to $250 per container also with effect from June 1. In addition, as part of the business plan, members will keep ancillary tariff items such as special equipment additional, transport additional and surcharges under review," he told press persons here on Tuesday.