News / Bangladesh shippers fear rising freight rates will hit demand

© Rehman Asad

Bangladeshi shippers fear catastrophe from a 100% freight rate hike within just a month.

Data shows freight rates between Chittagong and China has increased by nearly 100%, while Bangladesh to Singapore  has risen some 50%, and towards Colombo by about 15% since early May, causing severe hardship for shippers.

China is the top supplier of raw materials to Bangladesh, which exports goods to markets in the US and the EU using transhipment ports, mainly in Singapore and Colombo.

The spot rate on Chittagong-China ...