India's Union Minister of Shipping, G K Vasan, has told Parliament that "container shipping liners are planning to increase the freight rates" in written reply to the Rajya Sabha.
The minister said the companies were looking to manage lower volumes and increasing operating costs, including the "continuous increase of the cost of bunker or fuel costs".
He indicated that the extent of the increase would be dependent on market conditions, and added that the cost of shipped goods and merchandise could also increase due to the the likely rise in freight rates.
Experts have indicated that while fuel costs have more than doubled in the last two years, freight rates have not been revised by the industry to reflect the rise in marine fuel prices accordingly.
Mr Vasan has been India's Union Minister of Shipping since May 2009.
