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Shipping | August 27, 2013

Container freight rates to be hikded

The container freight rates on the India-Europe sector will be increased by $300 for 20-feet containers from September 1, said the Shipping Corporation of India on August 26.    

The hike is to meet the increasing operational costs, said the shipping line. Even with this increase, the base rate in this sector will be less than $1,000/container, said a company official.    

The huge demand-supply gap in shipping capacity has been putting pressure on liner rates in the past few years.

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