Local shipping sector hard hit by global economic crisis
Monday, 8 December 2008
Our Correspondent
CHITTAGONG, Dec 07: In view of the economic crisis persisting in the global arena, the shipping sector has been hardhit as the import of the different goods including the essential has declined leading to the reduction in arrival of the vessels at Chittagong Port from abroad and also departure of the same from the harbour, concerned sources said.
Freight of the sea going vessels has been lowered upto one third and many of them are not getting orders even after agreeing to transport the goods against fuel costs only.
Chittagong based importers sources said, existence of their business, is on the verge of a great threat.
Large investment of different banks also being threatened. Members of the business community are afraid to take fresh loans from the banks fearing that they would not be able to repay.
Overall activities of Chittagong port declined due to ongoing crisis persisting in export and import trade. Port Jetties are lying vacant in absence of the vessels. The freight charges have dropped down by more than 50 per cent in recent times.
CHITTAGONG, Dec 07: In view of the economic crisis persisting in the global arena, the shipping sector has been hardhit as the import of the different goods including the essential has declined leading to the reduction in arrival of the vessels at Chittagong Port from abroad and also departure of the same from the harbour, concerned sources said.
Freight of the sea going vessels has been lowered upto one third and many of them are not getting orders even after agreeing to transport the goods against fuel costs only.
Chittagong based importers sources said, existence of their business, is on the verge of a great threat.
Large investment of different banks also being threatened. Members of the business community are afraid to take fresh loans from the banks fearing that they would not be able to repay.
Overall activities of Chittagong port declined due to ongoing crisis persisting in export and import trade. Port Jetties are lying vacant in absence of the vessels. The freight charges have dropped down by more than 50 per cent in recent times.