SCI to hike freight rate

The Shipping Corporation of India (SCI) has announced a hike in freight rate on its India to Europe ISE service.

According to Exim News Service, the Rate Restoration/increase will be $200/TEU on cargo moving ex-Indian Subcontinent to the Europe sector with effect from July 1.
According to a company release, this has been necessitated by the burgeoning operational costs and to make the service viable in the interest of the trade.

SCI will also be imposing a Bunker Adjustment Factor (BAF) of $202/TEU, reflecting the rise in oil prices, from July 1. Due to the gradual increase in oil prices, it will be segregating the BAF and will invoice it separately, the release adds.

Also, due to the increased war risk premiums for vessels plying via the Somalia coast and the Gulf of Aden, SCI will be levying a War Risk Surcharge (WRS) of $50/TEU with effect from July 1.

(Source: Transport Weekly)