Freight Rate

Legislation to avert what could have been an economically ruinous freight rail strike won final approval in Congress on Thursday as lawmakers responded quickly to President Joe Biden's call for federal intervention in a long-running labour dispute. The Senate passed a bill to bind rail companies and workers to a proposed settlement that was reached between the rail companies and union leaders in September. That settlement had been rejected by four of the 12 unions involved, creating the possibility of a strike beginning Dec. 9. The Senate vote was 80-15. It came one day after the House voted to impose the agreement. The measure now goes to Biden's desk for his signature. Congress' decisive action ensures that we will avoid the impending, devastating economic consequences for workers, families, and communities across the country," Biden said in a statement after the vote. Communities will maintain access to clean drinking water. Farmers and ranchers will continue to be able to bring

Move over 'inordinate delay' in executing crucial stretch of Western DFC

Industry body CII on Thursday suggested the government a number of measures, including lowering freight and power costs for exporters and setting up a shipping regulator, to promote outbound shipments. CII National Committee on EXIM Chairman and Patton Group's MD Sanjay Budhia also asked for fast-tracking establishment of an export promotion body. There is also a need to do an internal export promotion and marketing exercise to get more businesses on the export markets, he said at the CII's national exports summit here. "Can we consider lower freight and power costs for exporters? It is not required to have subsidies but calibrated rates so that exporters are not cross subsidising other consumers. In this regard, including electricity costs under GST could be a way out to lower tax incidence," Budhia said. He added that the government can consider a carve-out under the national logistics policy for investments in trade-related infrastructure. States should be encouraged to work on

If the exemption is not extended, exporters will have to pay GST of 18% on export ocean freight, which will increase the logistical costs for Indian goods in global market

There were around 314,000 air passengers as of Sunday, September 4, based on a rolling seven-day average. It was around 331,000 as of Sunday, August 28

Indian Railways on Monday claimed to have recorded the best ever August Monthly freight loading of 119.32 MT in the month

A surge in demand for consumer goods during the pandemic has created major supply bottlenecks around the world, which has impacted the supply of container ships and boxes to transport cargo

Power generation also registers a surge; 20% higher than in 2019

As power plants rush to hoard coal ahead of peak summer demand, coal production and its movement has also increased

Rail ministry official says huge cut in expenditure offset falling passenger revenues; freight revenue seen driving improvement

Working from office had fallen by two-thirds at the height of the lockdown

Improved money supply helped revive the global demand. However, the demand in the domestic economy did not pick up enough

Among the commodities, coal was the worst-hit, with the sector contributing 60% to the total decline

Rates to Patna, Mumbai and Surat too went up by Rs 1,000 each to Rs 28,000, Rs 31,000 and Rs 29,000, respectively

Rates pertain to the 9-tonne pay load section for the local market in Delhi

Transporters said easy position of trucks as well as restricted cargo movements mainly pulled down freight rates

Transporters said apart from restricted cargo movements, comfortable position of trucks mainly pulled down freight rates for some centres