China's Ministry of Railways has imposed a 75 per cent full railcar rate increase from July to reflect the impact of fuel price hike, Logistics Week reported.
According to the announcement of the increases on the National Development and Reform Commission's (NDRC) website, rates for a full rail car load of freight have increased by CNY0.03 to CNY0.07 per tonne/kilometre. Rates for a one-tonne rail container have been raised by CNY 3.69. A TEU has been raised by CNY1.0374 and an FEU has gone up CNY1.6374.
The government also required other authorities to apply stricter supervision on the implementation of the increase to prevent any illegal price increase.
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