Importers and exporters are set to face increased logistics costs as container transport charges are raised by 20 percent with effect from tonight, following the recent fuel price hike.
The Container Transport Owners' Association (CTOA) said the decision was taken collectively by all associations representing the container transportation sector, citing the growing financial strain on operators.
CTOA Chairman Sanath Manjula noted that the fuel price increase has had a direct impact on the import-export container transport industry, making the revision unavoidable.
The association has begun notifying importers, exporters and clearing institutions of the new rates, warning of a ripple effect on overall trade-related costs.
