DP World enter US market with new box terminal at Corpus Christi
DP World looks set to finally break into the US market after entering into an ...
HLAG: EUROGATE DEALAAPL: SUPPLY CHAIN HURDLESVW: DECISION TIME VW: UPDATE XOM: EARNING GROWTHWTC: REBOUND ON WEAKNESSCHRW: BENCHMARKINGDHL: UPGRADEDEXPD: QUOTE OF THE WEEKVW: MASSIVE JOB CUTSFDXF: FIRST TRADING UPDATE EXPD: MORE BULLISH THAN BEARISHFWRD: HUNTING FOR VALUEFDX: CAPITAL STRUCTURE ADJUSTMENT
HLAG: EUROGATE DEALAAPL: SUPPLY CHAIN HURDLESVW: DECISION TIME VW: UPDATE XOM: EARNING GROWTHWTC: REBOUND ON WEAKNESSCHRW: BENCHMARKINGDHL: UPGRADEDEXPD: QUOTE OF THE WEEKVW: MASSIVE JOB CUTSFDXF: FIRST TRADING UPDATE EXPD: MORE BULLISH THAN BEARISHFWRD: HUNTING FOR VALUEFDX: CAPITAL STRUCTURE ADJUSTMENT
Hope may be in the air after Chittagong dockers agreed to a temporary suspension of their walkout – but they have warned action will recommence on Monday unless the government cancels plans to lease-out a new container terminal at the gateway to DP World.
With some 54,000 teu piled up over three days of eight-hour stoppages, work resumed at the port today after a meeting with shipping adviser M Sakhawat Hussain, who faced protests on arrival.
The Dhaka Chamber of Commerce and Industry told The Loadstar: “The impasse caused by the strike is having a serious negative impact, especially on the country’s export sector.”
With the chamber reporting that traders’ daily losses had jumped by $81 to $122 for every container delayed, it urged a swift resolution, but the striking workers are clear that if the deal with DP World is not cancelled, they will begin an indefinite strike on Monday.
Ruhul Amin Sikder Biplobeneral, secretary of the Bangladesh Inland Container Depots Association, said privately operated inland container depots had 13,150 teu of boxes piled up, close to double the usual number, with 7,891 teu of imported boxes and 51,364 teu of empties.
Should stoppage resume, Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem said exporters may find themselves facing significant losses.
He said it was likely that buyers may request goods be shipped by air or demand discounts – “so, this is a big crisis”, he added.
And while The Loadstar understands that law enforcement agencies have been instructed to ensure that the port’s operations continue to run during the stand-off, sources questioned how viable a solution this would be.
Fazle Ekram Chowdhury, president of the Berth Operators Association, told The Loadstar: “It will be difficult to resume operations at the port if the workers do not postpone the movement.”
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