IPBCC member lines to raise rates from November 1
MEMBER lines participating in the India Pakistan Bangladesh Ceylon Conference (IPBCC) plan to implement a rate restoration that will affect eastbound container shipments from the Mediterranean region.As a result of this decision, freight rates on the trade from Mediterranean ports to India, Pakistan, BangladeshSri Lanka will be increased by US$50 per TEU and $100 per FEU, starting from November 1.
A statement issued by IPBCC member lines said the increased freight rates would only be valid until the end of March next year.
The higher freight rates are required to offset what IPBCC carriers described as "considerable increases in costs", which the lines face on account of delays and port congestion which they fear will "continue to have a detrimental effect on the carrier's ability to operate efficiently", the release said.
In addition, members said they would keep ancillary tariff items such as special equipment additionals and surcharges under review.