Freight Rate

US Congress votes to avert freight rail strike amid dire warnings

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

Tata Projects consortium served termination notice over 'intolerable' delay

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

CII urges govt to consider lowering freight, power costs for exporters

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

Exporters call on FM Sitharaman to extend GST exemption on export freight

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

Recovery tracker: Workplace visits at record high; air traffic declines

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

Railways records best ever August freight loading of 119.32 MT this month

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

Shipping rate surge threatens global economic recovery, says UNCTAD

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

Recovery tracker: Retail, recreation visits hit pre-lockdown levels

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

Coal drives Railways' freight biz as demand from power plants perks up

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

Indian Railways expecting improved operating ratio despite Covid-19 impact

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

Recovery Tracker: Workplace visits gain; power generation and freight slip

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

Those who kept goods moving during Covid deserve praise

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

Rail freight traffic drops 28% in April-May amid Covid-19 lockdown

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

Freight rates up by Rs 1,000 on tight position of trucks, cargo movements

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

Freight rates remain flat on ample cargo movements, easy truck availability

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

Freight rates down on easy position of trucks

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

Freight rates slip on excess trucks position

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