GERMAN shipping giant Hapag-Lloyd has suspended carrying fresh Bangladesh-bound cargoes from Singapore port due to the port’s advice, which might worsen the Chattogram port’s ongoing container crisis, reports Dhaka’s Financial Express.

Hapag Lloyd has a meaningful market share in Bangladesh, carrying nearly 9,000 TEU of imports per month.

Chattogram and Dhaka shipping executives declared stoppage by one major player will have multiple impacts on the trade.

Problems include getting their goods on time and the prices of imported essential goods potentially increasing.

“The concerned consignees will suffer as a result of the stoppage,” said Saif Maritime Limited CEO Mohammed Abdullah Jahir.

Mr. Jahir declared more than 2,500 TEU of backlog containers at the Port of Singapore are meant for Bangladesh.

Said “K” Line Bangladesh deputy managing director Shahed Sarwar: “It [Hapag] carries at least 9,000 TEUs a month. So, such abrupt stoppage will have a chain-impact on Bangladesh’s external trade.”

Said Seacon country manager AS Chowdhury: “The container crisis had surfaced in Bangladesh long ago, keeping consistency with the global trend. But the latest development is that many big MLOs are now opting for trades between China and Europe or the USA.”

“To my mind, such a diversion by the mainline operators is one of the reasons behind the container crisis in Bangladesh,” said Mr Chowdhury.

Source: Schednet