Business News of Wednesday, 12 July 2017
Source: Eye on Port
The Institute of chartered shipbrokers (ICS) has organised a seminar on container demurrage charges in Ghana.
Container demurrage is applied when a shipper holds the container inside the terminal for longer than agreed free days and is applicable to all containers that remain at the terminal longer than the agreed free time.
An estimated amount of US$100 million is paid by shippers in a year as demurrage.
The seminar was therefore to generate the needed drive for addressing the issues for the benefit of the maritime industry.
The Deputy Minister for Trade and Industry, Carlos Ahenkorah who doubles as the chairman of the port efficiency and trade facilitation committee described as illegal container administrative charges being levied on shippers by shipping lines.
He said it was unacceptable for shippers to be overburdened by the shipping lines, hence, the committee has made some recommendations to the President, Nana Akufo-Addo.
Chairman of the ICS international, Karl Fraz said the impact of the maritime industry across the world was very enormous with 90 percent of world trade being sea borne.
The former CEO of Ghana Shippers Authority, Dr. Kofi Mbia in a presentation underscored the impact of demurrage on the maritime industry and recommended some ways of addressing it.
Chairman of ICS West Africa, Fred Aseidu Dartey in his welcome address noted that the institute was a professional body for all members of the commercial shipping industry.