Squeeze on sea and air volumes as pressure on trade grows in Venezuela

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Venezuela’s tight currency restrictions are biting into sea and air cargo volumes to the South American country, with widespread ramifications throughout the region.

“It’s very complicated there right now,” said Abraham Alvarado, senior account executive at Seaboard Marine. “The exchange rate controls make it very difficult to do business there.

“We have a large number of clients that don’t have access to the official currency. Probably about 80% of goods don’t benefit from the official currency. Also the central bank takes as ...