Sunday, 19 September

Importers, exporters welcome freeze on freight rates by CMA-CMG

Business
Port

The Importers and Exporters Association of Ghana, has described as welcoming, a decision by CMA- CGM, an internationally acclaimed container transportation and shipping company to suspend the increment of freight charges effective, 9 September 2021, to 1 February 2022.

CMA-CGM in a circulated letter signed by it Executive Director, Rodolphe Saade, directing its global partners to adhere to the directive.

It said the decision to suspend increment in freight charges effective 9 September 2021, had to do with the unprecedented hike in freight charges which begun since the beginning of this year.

 The company's Executive Director in the letter said, the suspension will be applicable to spot prices on all services operated by their shipping lines such as CMA CGM, CNC, Containerships, Mercosul, ANL, APL.

The Importers and Exporters Association of Ghana has been fighting shipping lines over the astronomical increment in freight charges at the detriment of its members. The Association, therefore, says it said it sees this directive as a sigh of relief and welcoming.

“We commend the CMA-CGM company for taking this bold step after acknowledging the massive investment they have already made interns of increasing capacity to meet the demand of their customers,” Importers and Exporters Association of Ghana said in statement.

“This we believe will go a long way in bringing some relief to importers who have been affected by these unexplained increment in the past. We urge all members (Importers) to take cash in on the latest development which begun this month, by patronising the services of the various shipping lines under CMA-CGM,” the statement added.

The Association has also urged other shipping companies and lines, to take a cue from the unprecedented initiative taken by CMA-CGM and also effect same directive to help reduce the cost of doing business at the country's Ports.

Source: Classfmonline.com/Emmanuel Mensah