Cargo arrivals fall in Chittagong port
Wednesday, 25 July 2007
Jasim Uddin Haroon
The number of Bangladesh-bound consignments from feeder ports in Singapore, Malaysia and Colombo has declined over the last few weeks, which the shipping sources claimed, was a clear indication of the slow down in import trade.
The sources said the nature of cargoes presently being shipped is mainly raw materials for garment factories while the volume of essential item consignments is very insignificant.
Importers said the import of essential items declined due to high prices prevailing in the international market and panic created by the banks enquiring about the source of import funds.
However, Bangladesh Bank governor July 22 directed the commercial banks not to harass importers of essential items by asking the sources of money when they intend to open letters of credit (L/C).
Captain Mohammed Rafique, country director of a leading feeder vessels services, told the FE Tuesday that the number of Bangladesh bound cargo vessels fell recently whereas it was almost normal in the month of June.
"We apprehend that if the present situation continues, feeder vessels will arrive in Chittagong Port carrying lesser import cargoes," Rafique added.
Fazlul Hoque, general manager of the Continental Trading, a feeder operator, said a number of new feeder operators entered into service last year after witnessing the booming business in this route.
But, the number of feeder vessels fell from 58 to 45 due to the slump.
Two feeder operators have withdrawn four of their vessels from the route recently due to less payload.
The number of Bangladesh-bound consignments from feeder ports in Singapore, Malaysia and Colombo has declined over the last few weeks, which the shipping sources claimed, was a clear indication of the slow down in import trade.
The sources said the nature of cargoes presently being shipped is mainly raw materials for garment factories while the volume of essential item consignments is very insignificant.
Importers said the import of essential items declined due to high prices prevailing in the international market and panic created by the banks enquiring about the source of import funds.
However, Bangladesh Bank governor July 22 directed the commercial banks not to harass importers of essential items by asking the sources of money when they intend to open letters of credit (L/C).
Captain Mohammed Rafique, country director of a leading feeder vessels services, told the FE Tuesday that the number of Bangladesh bound cargo vessels fell recently whereas it was almost normal in the month of June.
"We apprehend that if the present situation continues, feeder vessels will arrive in Chittagong Port carrying lesser import cargoes," Rafique added.
Fazlul Hoque, general manager of the Continental Trading, a feeder operator, said a number of new feeder operators entered into service last year after witnessing the booming business in this route.
But, the number of feeder vessels fell from 58 to 45 due to the slump.
Two feeder operators have withdrawn four of their vessels from the route recently due to less payload.