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Nov 7, 2014

TRUCKING INDUSTRY NEWS WORLDWIDE: * India

* Delhi / India - Firms with long-term contracts with truckers may benefit from drop in diesel price


New Delhi,India -The Hindu Business, by Mamuni Das -Nov 4, 2014: -- Companies with long-term contracts with transporters, with clauses for drop in freight in sync with the fall in fuel costs, are more likely to benefit from the recent dip in diesel prices than those who hire trucks from the open market... Transporters in the open market are resisting a fall in prices as of now, though diesel prices have fallen by almost 10 per cent... Research body Indian Foundation of Transport Research and Training (IFTRT) estimates that of the overall transport market, about 20-25 per cent of the trucking business is based on long-term contracts, while 75 per cent business is conducted through the open market... Rhenus Logistics (India), does 90 per cent of its business through long-term contracts, while only 10 per cent is done via open market... Industry players also point out that when diesel prices were going up, many customers did not increase freight charges even though the contract provides for such hikes...

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