customs brokerage, freight forwarding and truck transportation

Freight Congestion in Bangladesh Expected to Worsen Before It Improves

: Transport

Freight Congestion in Bangladesh Expected to Worsen Before It Improves 2017-04-25

Bangladesh, a global hub for the textile trade, has been suffering from serious air and ocean freight congestion, with leading forwarders expecting things to get worse before they improve.
Forwarders have told Lloyd's Loading List that importers of garments and textiles from Bangladesh continue to be thwarted by port and airport congestion that is driving up supply chain costs. Bangladesh saw export earnings rise 4% to US$25.94 billion in the July-March period of the current fiscal year, supported by 10% year-on-year export growth in March that was largely attributed to shipments of apparel, a major component of the country's economic health.
But transport capacity has not kept pace with the growth of the sector. Forwarders noted a major surge in demand in March from Bangladesh saw air freight rates soar. "We've seen a high single digit increase in rates and pre-booking times are now pushing a week," one source said last week.
Another source said local authorities are desperately pushing forward with a number of new projects that will boost capacity in the coming years.
Read more in an article from Lloyd's Loading List.

Source: CIFFA


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