Freight rates to go up 10-30 percent due to surge in price of petroleum

SGGP 14/03/2022 10:11

The Saigon Newport Corporation yesterday said that the continuous rise in petroleum price has led to a surge in the input costs on fuel, freight, loading and unloading at the ports and Inland Container Depot (ICD). Therefore, the unit would be forced to increase the container freight rates from ten to 30 percent over the current price from April 1.

Accordingly, the Saigon Newport Corporation will increase container freight rate by ten percent to the shipping route from Dong Nai Port to Cat Lai Port, and 30 percent to the shipping route from IDC to Saigon Newport.

In the Mien Dong (Eastern) coach station, dozens of transport businesses announced to adjust the fee up by 20 percent from the end of March. The enterprises recorded that the number of passengers recently reduced 50 percent along with the continuous rise in fuel would spell trouble for the business.

Besides, transport businesses at the Mien Tay (Western) coach station will also perform the price adjustment.

A representative of the Ho Chi Minh City Cargo Transport Association said that its transport units will have to increase freight rates in the next few days amid the rise in petroleum prices.