Container shipping lines to hike freight rates

Shippers have to shell out more as the container shipping lines platform India – Pakistan – Bangladesh – Ceylon Conference (IPBCC) is planning to increase the rates for European bound trade through a rate restoration initiative effective from June 1. “At a business plan review meeting held in Mumbai, the member lines of IPBCC has agreed to implement rate restoration intiative to UK, North Continent, Scandinavian and Baltic Ports effective from June 1,” IPBCC Chairman, David J Halliday, said here today.