Indian cargo owners are facing multiple shipping cost shocks, even as they work through sailing disruptions and the associated challenges stemming from the Red Sea/Suez Canal crisis.
THCs
According to local forwarder sources, major carriers calling at Indian ports have implemented hikes in their local tariffs, especially terminal handling charges (THCs) this month and, in some cases, again in February.
Hapag-Lloyd is charging R10,689 ($129) per 20ft container and R16,629 ($200) per 40ft for export loads through Nhava Sheva terminals. Maersk’s new THC rates are R9,790 ($118) and R14,900 ($180).
According to industry sources, CMA CGM will also revise its THC rates at the ports of Nhava Sheva and Pipavav from 2 February.
Additionally, MSC recently pushed its export documentation charges substantially higher for Indian trades, with seaway bill of lading (B/L) fees revised to R6,500 (about $78) per document, plus local taxes, up from a normal base level of R4,250 ($51).
These local container tariff changes coincide with a flurry of hefty general rate increase (GRI) and surcharge announcements across tradelanes, which carriers say are inevitable in order to cover the additional costs of rerouting vessels around the southern tip of Africa, in the wake of Red Sea security issues.
Some carriers have already announced several rounds of rate increases for this month, rekindling fears of a repeat of Covid-induced sky-rocketing cargo booking prices for shippers.
Security concerns
Meanwhile, India has further stepped up its naval presence in the Arabian Sea and Gulf of Aden after security concerns for commercial ships passing through the region, after recent incidents involving drone attacks and an attempted hijacking.
India could potentially face a $30bn drop in exports if exporters hold back on shipments due to rising fears, according to a New Delhi-based think tank, reports Hindustan Times.
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Source : Loadstar
