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Raja Simhan T.E.

Chennai , Feb. 8

FROM March 1, container freight rates to the UK, North Continent, Scandinavian, Baltic and Mediterranean ports from Chennai, Kochi, Tuticorin, Kolkata and Haldia will increase by $100 a TEU (twenty-foot equivalent unit) and $200 for a FEU (forty-foot equivalent unit).

This follows a westbound rate restoration announced by the India, Pakistan, Bangladesh and Ceylon conference.

Freight rate to the UK and other European ports from Chennai ranges between $775 and $825 a TEU, said a source in the shipping industry.

The increase was part of a business plan for 2006, and will be levied up to May 31. The 20-member shipping line conference in a trade notice said that increase in costs, and delays and congestion continue to have a detrimental effect on the carriers' ability to operate efficiently.

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