Major jump in freight rates to hurt trade, say exporters

NEW DELHI: Freight rates have skyrocketed by up to 700% due to the Red Sea crisis which would hurt the world trade, say exporters, while suggesting government should start its own shipping line of global repute. Kolkata to Rotterdam freight increased from $500 to $4,000 due to the Red Sea crisis. Fieo DG Ajay Sahai said: “It is a serious issue” and the problem will hurt the global demand for goods besides pushing inflation in different countries.”

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