The Hindu Business Line : IPBC to implement freight hike through rate restoration initiative

The member lines of the India/Pakistan/Bangladesh/Ceylon (IPBC) Conference, serving the trade route between the Indian sub-continent and the UK/Continent, plan to implement a freight hike through a rate restoration initiative that will affect container shipments.

Consequently, freight rates between Europe and the ports in India, Pakistan, Bangladesh and Sri Lanka, will rise by $50 per TEU and $100 per FEU, starting November 1, 2006. The increased freight rates will be valid till end of March next year, it is learnt.

Costs to raise

The proposed freight increase, it is felt, will offset what the IPBC feels "considerable increase in costs" being experienced by the member lines on account of delays caused by port congestion.

The problem, it is feared, will continue to undermine the carriers' ability to operate efficiently.

The IPBC members, it is learnt, are also keeping ancillary tariff items such as special equipment additionals and surcharge under review.

The 18 member lines of IPBC include the Shipping Corporation of India, Pakistan National Shipping Corporation, CMA CGM, Contship, Evergreen, Hamburg Sud, Hapag Lloyd, K Line, McAndrews, Maersk Sealand, Malaysian International Shipping Company, Norasia, P&O Nedlloyd, Rickmers, Safmarine, UASC, Yang Ming Line and Zim.

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