Industry & Economy
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Engineering
‘High freight rates for engg goods hurting exporters’
Our Bureau
Kolkata, Sept. 13
The Engineering Export Promotion Council (EEPC), in a statement issued here today, has criticised the sharp escalaltion in ocean freight rates demanded by foreign shipping lines in the last couple of months for carrying India’s engineering cargo to countries in the EU and Gulf States from Kolkata port.
According to Mr Rakesh Shah, Chairman of the council, the increase in freight rates have been in the range of 60-150 per cent between April and September (till date) for exports originating from Kolkata port. He said this was in stark contrast to the stable rates available in Mumbai port. Mr Shah told Business Line that competitiveness of exporters sending cargo through Kolkata port has been dented due to the sudden upsurge in the ocean freight rates.
Loadability of the heavy duty containers, which earlier used to be at 27 M/tonnes, has also now been scaled down to 10-12 M/tonnes. Not only are the freight rates being jacked up, even the bunker adjustment factor and the currency adjustment factor charges too are being raised. He said unlike other exports, in the case of engineering exports, freight charges constitute nearly 25-30 per cent of the value of a single export consignment.
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