Cargo handling at Chittagong Port up by 22pc

The cargo handling at the Chittagong Port during the last couple of months ending February grew by more than 22 per cent over the corresponding period of 2013, port data have shown.
Business circles said imports of raw materials for ready-made garment (RMG) factories grew significantly during the January-February period. They said food grains, mainly rice imports, also surged substantially.
However, the country's foreign trade (export receipts and import payments) stood at more than US$ 39 billion during July-January period of 2013-14.
The containerised cargo growth rate, however, is much higher than the port's average yearly target of 12 per cent, port sources said.
Port sources said both export and import cargoes surged during the period. During January-February period, the Chittagong port handled a total of 2,67,000 TEUs (20-foot equivalent units) containers. Of them, 1,32,000 TEUs were imports.
"This is an extraordinary growth in container handling," a terminal official at the Chittagong Port told the FE over phone.
He said growth in November and December slowed but started picking up from January. "Import growth appears to be better than expected, he said.
The exports were mainly meant for the European Union (EU) and the USA while imports came mostly from China and Far-East nations including Japan.
Captain AS Chowdhury, country head of Seacon, a feeder service operator, told the FE: "We're quite satisfied at the growing volume of cargoes."
He said: "We faced serious cargo crisis during November-December period and it is now reversed."
He said the February volume did not grow as expected due to Chinese lunar year that affects global trades.
China's biggest annual holiday, the Lunar New Year usually dampens economic activities as factories and offices close shops for long periods before and after the festivities.
Mr. Chowdhury hinted that the shipping lines might raise the number of ships once the trend continues further.
However, Abul Bashar Chowdhury, chairman of Masud & Brothers at Chittagong, said food grain import did not grow substantially.
"In my view, imported products other than food grains grew in the country following improvement in political situation," Mr Bashar, one of the biggest food product importers, told the FE.
"We find this strong import growth puzzling," said Mr. Bashar.
According to the Bangladesh Bank statistics import grew by more than 13 per cent during July-January period.  The exports during July-January period of the fiscal year grew by more than 15 per cent.
The total value of import letters of credit (LCs) opened by authorised dealer banks during July-January period, 2013-14 was US$ 22.42 billion, 10.55 per cent higher than that of the same period of the previous year, according to the Bangladesh Bank.