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Cargo shipping rates from Asia likely to increase
15
Jul '10
As the apparel manufacturers sliced the amount of cargo they usually send from Asia to United States (US), last year, the shipping industry incurred a loss of around $15 – 20 billion.

Hence, to make up to the aforesaid loss, cargo container firms are surging their shipping rates between Asia and US.

However, as per the current trend, buyers are likely to witness increase in freight costs from Asia, informed a cargo shipping personnel.

More so, shipping activity is also likely to increase between now and the holiday season, as garment producers and others exporters are shipping their products in-time for the back-to-school season and holidays, that are scheduled to happen till the end of the year.

More over, freight rates out of Sri Lanka have surged by 50 percent over the last year and the shipping lines too are trying to save money by sailing at a slower speed so as to save bunker fuel. Although, this measure started last year as a cost-cutting measure, it has been carried over to this year as well.

Fibre2Fashion News Desk - India

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