Movement of containerised cargo drops at Ctg port

Import and export of containerised cargo through the country's premier seaport in Chattogram fell in the first quarter of the current fiscal year compared to that last year, indicating a slowdown in foreign trade resulting from global economic downtrends. 

Transport of imports and exports through the port also underwent a gradual downfall in the last three months till September.

Overall container handling at the port also came down to its lowest in September.

According to data from Chittagong Port Authority (CPA), 3.53 lakh TEUs (twenty-foot equivalent units) of import-laden containers were unloaded at the port in the last three months till September this year.

This was 3.26 per cent less than that of the same period last year.

Meanwhile, 3.67 lakh containers, around half of which contained exports, were shipped from the port, a year-on-year decrease of 0.95 per cent.

In July, the first month of the current fiscal year, 1,23,653 TEUs of import-laden containers were unloaded at the port. It fell to 1,19,634 TEUs the following month and 1,09,702 TEUs in September.

In case of containers shipped out, it was 1,19,128 TEUs in July, 1,30,378 TEUs in August and 1,17,476 TEUs in September.

Overall container handling at the port also came down to its lowest in the last nine months to 2.48 lakh TEUs in September, which was 8.62 per cent lower than that in August.

This figure takes into account all types of containers handled at the port, 19 privately-owned inland container depots (ICDs), Dhaka ICD and in the inland container terminal at Pangaon.

The monthly average for container handling remained at 2.71 lakh TEUs in the previous eight months till August. The highest was 2.92 lakh TEUs in January.

Restrictions imposed by the government on the import of luxurious items has led to a gradual fall in overall imports in the last few months, Bangladesh Shipping Agents Association (BSAA) Chairman Syed Md Arif told The Daily Star.

Echoing the same, Bangladesh Freight Forwarders Association Vice President Khairul Alam Suzan said on the other hand, it was positive for the country as foreign currency was being saved.

BSAA Director Muntasir Rubayat, however, said usually the country's exports remain low between September and mid-October every year and it is the same this time around.

The major volume of exports for the winter season has already been shipped in July and August, he said.

He admitted that feeder vessels that usually bring imports in the range of 1,200 TEUs to 1,400 TEUs were now arriving with only around 400 TEUs to 600 TEUs.

Chittagong Chamber of Commerce and Industry Vice President Syed Mohammed Tanvir said the import of commodity items have reduced noticeably in the wake of high prices in global markets following the Russia-Ukraine war.

Tanvir, also the managing director of denim exporter Pacific Jeans, said placement of purchase orders for garments have drastically fallen in the last few months.

Confirmations of fresh orders have also been slow to come by, which also prompted a drop in the import of associated raw materials, he said.

He believes imports, alongside exports, may further drop in the coming months as not that many letters of credits were being opened.

However, he hopes for the situation to improve from March next year.