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Date: 04/10/2024

India to buy second-hand vessels, cut port charges to boost exports

India will purchase five additional second-hand container vessels and reduce certain charges at ports in a move to boost exports and resolve shipping-related issues of trade such as high freight, announced Mr Piyush Goyal, after recently meeting senior officials of Ministries including Ports & Shipping, Finance, Civil Aviation and Railways, exporters body FIEO, freight forwarders, transport operators and shipping companies. The Railway Board and Container Corporation of India announced that empty containers can now be stored at the yard at zero cost for 90 days and the charge of Rs 3,000 that is being levied beyond 90 days is now halved to Rs 1,500. Moreover, storage and handling rates would be reduced for 40 feet containers to Rs 2,000 from Rs 9,000 and for 20 feet containers to Rs 1,000 from Rs 6,000, as per a report.
 
Source: Exim News Service: New Delhi, Oct. 3



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