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The cost of products, merchandise shipped are expected to increase due to hike in the freight charges of container shipping lines, the Shipping Minister, Mr G.K. Vasan, stated in a written reply to a question in Rajya Sabha today.
Export containers from India carry textiles, spices, processed cashewnuts, basmati rice and pharma products. Products imported to India in containers include small wooden logs and raw cashew.
The quantum of increase of freight rates would depend upon market conditions.
Container shipping lines are planning to increase the freight rates to cover the operating costs, which have gone up owing to continuous increase in fuel costs.
The freight rates had been stagnant for a long time despite mounting costs because there was overall dip in cargo volumes, and increase in supply of container ships.
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