Bangladesh imports machinery, garment accessories, dyes, chemicals, fruits, and scrap steel, among other products, from various European countries. Some 6,000 TEUs (20-foot equivalent unit) of Chittagong- bound containers of COSCO Shipping Lines remained stranded in Singapore caused by severe congestion in the busy transshipment port.
The COSCO Shipping Lines is second-largest carrier of inbound containers to Bangladesh, carrying around 25 per cent of total volume. In case of transporting outbound cargo, its position is the fourth accounting for approximately 17 per cent of outward containers.
A representative of another mainline operator in Dhaka said COSCO is a China-based operator, which had colossal container booking during the last couple of months when many operators worldwide were lacking required empty containers to carry cargo.
He said COSCO had taken bookings more than its capacity during the period which has caused its containers’ stockpile in the transhipment ports.
Mohammad Hatem, First vice president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said, “garment makers import accessories and dyeing chemicals from countries like Belgium, Italy, Spain and Germany. If the COSCO takes a month to carry the stranded containers from Singapore to Chittagong, a crisis of those materials will be created in the country.
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COSCO is now aggressively working on clearing the backlog, and since new booking would not be taken, the backlog will be removed in a month.
