Freight Rates Likely To Firm Up This Week

Mumbai, March 30: | Updated: Mar 31 2003, 05:30am hrs
Truck freight rates for nine tonne load vehicles are likely to firm up this week, said transporters. If the shortage of vehicles continues, the rates may shoot up by at least Rs 500-1000, said a transporter.

The acceleration in the movement of goods by corporates and stockist has caused a shortage of vehicles which in turn forced the truck rates to go up even during the last week. Also, the nationwide strike, which has been organised by the truck-tempo organisation in April, has also created a shortage of vehicles pushing up the truck rates slightly. There was an unexpected rush of people seeking transportation of their cargo on the day before March 31 and due to the scheduled strike, said a director of a reputed Mumbai-based transport company. According to him, The demand for vehicles shot-up in anticipation that the strike may cause interruption in the supply of various commodities. Last week, the rates to northern cities moved up by Rs 500 - Rs 1,000. Elsewhere, freight rates for other destinations remained stable in scattered deals.