Freight rates hamper cement exports

Freight rates hamper cement exports
Published: 05 January 2004

The surge in shipping freight rates has hindered the exports of cement and clinker from the country. Cement producers would have exported much more but for the rise in freight rates. About 6.9Mt of cement and clinker was exported from India in the financial year 2002-03 and domestic cement makers were looking at a considerable rise in exports in this year.  A cement industry analyst said, "In the last six months export realisations in dollar terms have gone up by about 2 0 per cent. This should have definitely made cement and clinker exports more attractive for local producers. However, an acute jump in shipping freight rates has curbed the expected rise to some extent."  Industry sources said the rise in cement exports has also been affected due to unavailability of vessels in some cases.