Importers and exporters have bemoaned the recent astronomical rise in freight charges.
According to reports, the price of renting and shipping containers from Asia and Europe which initially cost $3,000 has increased to $13,000 over the past few weeks.
The increment in freight charges, Dr Joseph Obeng, President of the Ghana Union of Traders Association (GUTA) says, has impeded imports into the country.
Discussing the issue with the media, Dr Obeng noted that imports for the first quarter of 2021 is going to be unusually low.
“This year, we see that the prices of the containers we are renting and shipping into the country have gone high which is impeding importation, and because of the high prices many importers are not importing into the country at this time. So for the first quarter of 2021 will not see much importation,” he said.
The increment in freight charges is not peculiar to Ghanaian importers and exporters as freight charges increments has been reported at major ports around the world.
The increment in the charges is due to the adverse effects of the Covid-19 pandemic on the global shipping sector, pushing costs for importers and exporters.
Major container shipping lines have increased freight rates citing an acute shortage of empty containers following a surge in demand for imports on the back of the reopening of economies.
CMA-CGM, the fourth largest container shipping line in the world, recently announced that it would implement new freight charges for its routes. The new charges took effect January 1, 2021.
