Indian coastal freight attracts major carriers, but regional tension disrupts
India’s growing coastal freight demand looks like the next target for foreign container lines amid ...
© Vladimir Serebryanskiy |
By Mike Wackett
As global freight rates continue to fall, container shipping lines are being hit by a huge spike in fuel costs.
This will inflict further damage on the bottom line of the financials of weaker carriers already challenged by second-quarter losses.
According to Ship & Bunker data, the price of Rotterdam-sourced industry-standard low-sulphur fuel (VLSFO) jumped on Friday by another $8 per ton to $643 and has now increased by 22% since the end of June.
In theory carriers have fuel cost mechanisms in ...
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