The shipping companies, following decrease in the world oil prices, have reduced bunker (fuel) surcharge by 46 dollars per 20-foot container for the export cargo destined for the US. According to the shipping sources, the new rate, effective from January 1, is reduced from 146 dollars to 100 dollars per 20-foot box. The bunker surcharge has also been reduced for cargo destined for Europe from 100 dollars to 85 dollars per 20-foot container with effect from December.
The sources said that the cargo movement during the months of November and December witnessed slow down, but it had started picking up this month.
Meanwhile, the India-Pakistan-Bangladesh-Ceylon Conference (IPBCC), grouping shipping carriers operating between Pakistan and Europe, is due to meet on January 26 to review the overall cargo prospects for the new year.
The IPBCC announced a general rate increase (GRI) on cargo for Europe in December and a new GRI is expected to be in place in March. The conference makes a quarterly review of the freight structure for Europe and announces a GRI if it feels that the freight rates are depressed.
Maersk Sealand, a leading shipping line, has restored its twice-weekly service to Pakistan from this month. It curtailed its sailing to once a week in the last fortnight of December when one of its vessels went under repair.
The line operates service every Wednesday and Saturday from Port Qasim.