{"id":26578,"date":"2022-02-28T13:02:44","date_gmt":"2022-02-28T07:32:44","guid":{"rendered":"https:\/\/plyinsight.com\/?p=26578"},"modified":"2022-04-08T13:23:09","modified_gmt":"2022-04-08T07:53:09","slug":"freight-rates-may-jump-more-amid-ukraine-crisis","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/freight-rates-may-jump-more-amid-ukraine-crisis\/","title":{"rendered":"Freight rates may jump more amid Ukraine crisis"},"content":{"rendered":"

The invasion of Ukraine by Russian forces has triggered panic among Indian Importers, coming as it does after over a year of high freight rates and container shortages. Freight rates to several ports in India had jumped eight to ten times last year and are already on a rise in the last one week.<\/strong><\/p>\n

According to shipping companies, the cost of chartering a 4,200 TEU (20-foot equivalent unit) has soared from around $ 8,000 a day eight months ago to around $ 70,,000 a day now. As a result of the Russian invasion, it is expected to reach at $1.0 lakh per day. Shipping companies are worried over the price increase in crude oil.<\/p>\n

Regarding movement of containers, India is the best managed area in the world. That\u2019s why transport movement is normal amidst disturbances.<\/p>\n

Industry is going to be effected tremendously further due to increase in expected freight rates. Cost of imported materials including chemicals may shoot up. It will be troublesome for the plywood and panel industries, who are struggling for correction in the market post covid.<\/strong><\/p>\n

\n

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The invasion of Ukraine by Russian forces has triggered panic among Indian Importers, coming as it does after over a year of high freight rates and container shortages. Freight rates to several ports in India had jumped eight to ten times last year and are already on a rise in the last one week. 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