Freight Rates

Government needs to rethink fleet expansion strategy

The Drewry World Container Index (WCI) increased 2 per cent to $4,801 per 40ft container this week and increased 202 per cent when compared with the same week last year

Indian companies paid freight costs of $85 billion in the financial year 2019/20, of which $75 billion was paid for use of foreign vessels

Jaipur, Ahmedabad see largest declines

The growth was mainly fuelled by coal and iron ore, traditionally the mainstay of the railways' freight portfolio

Road transport is estimated to account for over 70 per cent of domestic freight demand

Shipments are currently delayed by about three weeks, CEO Bjorn Gulden said, and that is causing some delivery issues, especially to Europe

The Indian Railways achieved freight loading of 758.2 MT between April and September as against the 736.68 MT recorded in the corresponding period last year, which is an improvement of 21.52 MT. "Railways have earned Rs 81,697 crore against Rs 78,991 crore over the last year, which is an improvement of approximately Rs 2,706 crore as compared to the same period of the last year," the railway ministry said in a statement. "During the month of September 2023, originating freight loading of 123.53 MT has been achieved against loading of 115.8 MT in September 2022, which is an improvement of approximately 6.67 per cent over the last year," it added. The increase in freight loading has translated into an increase in the railways' revenue as it achieved freight revenue of Rs 12,956.95 crore in September 2023 as against the Rs 12,332.7 crore freight earnings in September 2022, thereby showing an improvement of about 5.06 per cent. "Indian Railways achieved loading of 59.7 MT in coal, 14.2

New rates to ply for 6 months to test market appetite

Proposal aimed to ease pressure on rail network, improve coal dispatch during peak demand summer months

The commercial vehicle industry volume is expected to grow in the range of 7-10 per cent in the next financial year, rating agency Icra said on Tuesday. The volume growth would be on account of government infrastructure spending, replacement demand, back-to-school and office scenarios and e-commerce expansion, it noted. The growth will, however, moderate from 24-26 per cent in the current financial year, it added. Icra noted that the growth trends were visible in third quarter of the current fiscal, with wholesale dispatches reporting a growth of 16 per cent on a year-on-year basis, supported by replacement demand, improvement in the macroeconomic environment, and healthy traction in the underlying industries such as steel, cement, mining, automobiles, and e-commerce. Freight rates continued to hold up, which, coupled with healthy freight availability, is supporting fleet operator viability, it noted. The growth trends continued to be broad-based across all the three sub-segments

Zonal Railways asked to designate more works as special projects for quicker clearance

Officials peg FY23 freight between 1500-1550 mt

However, average container prices are still 2-3 times higher compared to pre-pandemic levels

Sources in the ministry say policy not successful so far; extension period kept low as the board may soon have to decide whether to modify the policy further or discontinue it altogether

Ministry aims for Rs 2-trillion budgetary allocation in coming years, says minister Vaishnaw

Senior coal ministry officials told Business Standard they were aware of the report that NITI Aayog was preparing

The surcharge will be levied on transportation of all commodities barring coal and coke, containers and automobiles moved in certain wagons

Coal freight revenue rose 42 per cent despite rains, floods during August

Previous government had banned earthwork for project, following an order by Pune Bench of NGT