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Date: 09/05/2025

Freight rates seen going up after IMO’s carbon levy

The International Maritime Organization (IMO)’s carbon levy is going to raise India’s freight rates by 5 pc, said the Directorate General of Shipping (DGS) in a guidance note to maritime stakeholders. The total compliance cost is projected at $87-100 million annually by 2030, assuming partial reliance on remedial units. This is equivalent to a 14% increase in fuel cost and a 5% rise in freight rates—well within the industry’s operating margins, it added. There is no cause for concern, said the DGS, the country’s shipping regulator. It has said that added costs would be well within the industry’s comfort zone, adding that the India-Singapore proposal agreed upon by the United Nations maritime body (IMO) will save the sector over $2 billion till 2030 as compared to the European Union’s proposal, as per a report.
 
Source: Exim News Service: Mumbai, May 8



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