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The cost of shipping goods from India to Europe is set to rise by US$200 per TEU, and $400 FEU, from 1 February.
It currently costs about $1,400 for shipping a TEU from India to any one of the European ports such as Felixstowe, Southampton, Tillbury, Hamburg, Rotterdam, Antwerp and Zeebrugge.
A group of 19 container shipping firms, known as the India, Pakistan, Bangladesh, Ceylon (IPBC) Conference, that operates services between Europe and the Indian subcontinent, have announced their decision to implement the rate hike, which will remain valid at least until 31 March.
India’s container cargo trade to Europe has grown by 25 percent in 2007 over the previous year.
An SCI official said the rate increase is being done to offset the adverse impact of rising operating costs on account of bunker (fuel) prices and congestion and delays at ports.
CargonewsAsia
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