Truckers bodies seek to penalise those not raising freight rates
March 08, 2021
Any bid to fix freight collectively is against free play of market forces, say observers As fuel costs soar, more and more truckers bodies across States are not only asking their members to start charging higher rates, but are also seeking to impose penalty on those who are not increasing the freight rates and asking other members to not cooperate with them.
The Youth Federation of Raipur, Chhattisgarh, whose members are also part of larger truck unions, is the latest to come out with such a directive. In a note seen by
Freight rates up by 25 pc due to hike in diesel prices, claims AITWA ANI | Updated: Mar 02, 2021 13:59 IST
By Shailesh Yadav
New Delhi [India], March 2 (ANI): The surging diesel prices have led to an increase in freight rates across modes of transport as the rates have increased by 25 per cent, said Chairman of All India Transporters Welfare Association (AITWA) on Tuesday. 30 to 35 per cent increase in the diesel price has contributed around 25 per cent to 30 per cent increase in the freight rates for the last one year for Full Truck Load (FTL) deals, which are generally between big transporters and companies, said Pradeep Singal, Chairman, AITWA.
Read more about Recovery tracker: Mobility, railway indicators hold steady as cases rise on Business Standard. Traffic and emissions are lower in some places than others relative to pre-pandemic days
Synopsis
Shipping firms such as South Korea’s HMM Co. are ordering more containers to address an acute shortage, with cargo stuck at warehouses longer than usual because of lockdowns and workplace restrictions.
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Maersk said it expects profit to grow as much 27% this year. HMM, South Korea’s biggest shipping line, reported its first annual operating profit in 10 years in 2020.
The world’s largest container carrier said trade disruptions that have sent freight rates soaring and overwhelmed major ports may start to ease after the first quarter, disappointing investors but signaling eventual relief for cargo shippers.
A.P. Moller-Maersk A/S Chief Executive Officer Soren Skou said the fourth quarter “was marked on the one hand by a continuous impact of the Covid-19 pandemic but also by some rewarding progress on our strategy to become the integrator of container logistics.”
Coconut oil prices go north mirroring global trend
February 08, 2021
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With the coconut harvest season having started, industry players feel the rise in prices is due to hoarding
Coconut oil became dearer by ₹10 per kg last fortnight apparently reflecting the global trend of rising edible oil prices.
Traders are keeping their fingers crossed as the price hovering in the range of ₹230-240 per kg in the retail market has led to about 30 per cent shift in consumer preference to cheaper edible oils. Retail priced of edible oils, such as palm oil and sunflower oil, range between ₹130 -160 per kg. The rising price of coconut oil has slowed down institutional buying, especially in the HoReCa segment. They are also concerned of the rampant adulteration following the price hike.