Traders, manufacturers count heavy losses
Saturday, 20 March 2010
Jasim Uddin Haroon
The country's importers, manufacturers, shippers and owners of fuel tankers suffered a hefty financial loss during the three-day non-stop strike enforced by waterways transport workers that ended Thursday midnight, competent sources said.
Eighteen mother vessels that remained stranded in outer anchorage during the three days until Thursday have incurred losses to the tune of more than US$ 0.8 million as operating cost.
The vessels were carrying around 0.5 million tonnes of cargoes including salt, raw sugar, clinker and wheat.
"Each vessel incurred a loss of more than $15,000 a day in operating cost," Ahsanul Hoque Chowdhury, chairman of Bangladesh Shipping Agents Association, told the FE Friday.
About 150,000 transport workers went on strike on Tuesday to press home their 22-point demands that included a new pay scale, which was supposed to be announced in January.
Transport workers called off the strike Thursday night after a four-hour meeting between union leaders and labour and manpower minister Mosharraf Hossain and shipping minister Shajahan Khan.
Golam Mostafa, chairman of Deshbandhu Sugar Mill, told the FE: "I have counted loss of $8,500 per day as demurrage for a vessel that was carrying 14,000 tonnes of raw sugar."
The ship unloaded 12,600 tonnes of sugar until Monday and got caught in the strike before unloading the remaining 1400 tonnes, company officials said.
Cement manufacturers followed suit, as over 10 vessels carrying clinker could not be unloaded on time.
The country's around 60 cement manufacturing plants depend on the imported clinkers, the prime ingredient for manufacturing the construction material.
The clinkers were destined for different factories located in Chittagong, Munshiganj and northern parts of the country.
"My factory has suffered a lot due to the strike by the transport workers," said Amirul Haque, managing director of Premier Cement, a leading company at Mukterpur in Munshiganj.
Mr Amirul, also a senior leader of Bangladesh Cement Manufacturers Association, said Shah Cement, the largest supplier of cement in the country, also suffered, not to speak of the smaller units.
A total of 18 vessels were caught in the work abstention.
One salt importer said he would not be able to realise the losses as he could not raise the prices of the essential item. "I've paid $12,000 each day in demurrage. How will I realise the losses incurred due to the strike?" asked Shakawat Hossain, the importer.
Md Mashuk, who owns an oil tanker, said each oil carrier missed at least one trip due to the strike.
Shipment of other goods and passenger movement on different routes also suffered during the strike.
Around 90 per cent fuel of the country is supplied to Dhaka and the northern districts through river routes from Chittagong.
The country's importers, manufacturers, shippers and owners of fuel tankers suffered a hefty financial loss during the three-day non-stop strike enforced by waterways transport workers that ended Thursday midnight, competent sources said.
Eighteen mother vessels that remained stranded in outer anchorage during the three days until Thursday have incurred losses to the tune of more than US$ 0.8 million as operating cost.
The vessels were carrying around 0.5 million tonnes of cargoes including salt, raw sugar, clinker and wheat.
"Each vessel incurred a loss of more than $15,000 a day in operating cost," Ahsanul Hoque Chowdhury, chairman of Bangladesh Shipping Agents Association, told the FE Friday.
About 150,000 transport workers went on strike on Tuesday to press home their 22-point demands that included a new pay scale, which was supposed to be announced in January.
Transport workers called off the strike Thursday night after a four-hour meeting between union leaders and labour and manpower minister Mosharraf Hossain and shipping minister Shajahan Khan.
Golam Mostafa, chairman of Deshbandhu Sugar Mill, told the FE: "I have counted loss of $8,500 per day as demurrage for a vessel that was carrying 14,000 tonnes of raw sugar."
The ship unloaded 12,600 tonnes of sugar until Monday and got caught in the strike before unloading the remaining 1400 tonnes, company officials said.
Cement manufacturers followed suit, as over 10 vessels carrying clinker could not be unloaded on time.
The country's around 60 cement manufacturing plants depend on the imported clinkers, the prime ingredient for manufacturing the construction material.
The clinkers were destined for different factories located in Chittagong, Munshiganj and northern parts of the country.
"My factory has suffered a lot due to the strike by the transport workers," said Amirul Haque, managing director of Premier Cement, a leading company at Mukterpur in Munshiganj.
Mr Amirul, also a senior leader of Bangladesh Cement Manufacturers Association, said Shah Cement, the largest supplier of cement in the country, also suffered, not to speak of the smaller units.
A total of 18 vessels were caught in the work abstention.
One salt importer said he would not be able to realise the losses as he could not raise the prices of the essential item. "I've paid $12,000 each day in demurrage. How will I realise the losses incurred due to the strike?" asked Shakawat Hossain, the importer.
Md Mashuk, who owns an oil tanker, said each oil carrier missed at least one trip due to the strike.
Shipment of other goods and passenger movement on different routes also suffered during the strike.
Around 90 per cent fuel of the country is supplied to Dhaka and the northern districts through river routes from Chittagong.