While the gross foreign exchange revenues of the shipping industry in 2001-02 rose to Rs 7,782.8 crore from Rs 7,186.9 crore in the previous year, the net earnings dropped 1.2 per cent to Rs 4,620 crore from Rs 4,673.8 crore in 2000-01.
The upward trend in the freight rates was the main reason for the shipping industry being able to touch the highest level of foreign exchange earnings in 2001-02, the Annual Report of Indian National Shipowners
