 "Transporters mull surrendering vehicles as loan moratorium comes to an end")
Transporters are on the verge of surrendering 50,000 vehicles to financiers, after being hit by sluggish economic activity, low freight availability, and end of the moratorium on August 31. This is based on the estimates of the Indian Foundation of Transport Research & Training (IFTRT), a New Delhi-based think-tank.
A sharp month-on-month drop of 10 per cent in freight rates for August has also added to woes. “The situation is very fragile,” said S P Singh, senior fellow at the IFTRT.
Consolidation has begun, due to which some are trying to trim the business and others seeking an exit, he
