Nurul Qayyum Khan, president of the Bangladesh Inland Container Depot Association (BICDA), said no trucks have been able to enter the depot from the factory or go to the port since Thursday morning due to security reasons.
"Import containers have also not been coming out of the port as drivers are unwilling to take risks," he added. "Normally, these depots handle about 4,000 TEUs of imports, exports and empty containers every day, which are now suspended."
Nurul Qayyum Khan, however, said that the loading and unloading of goods in the container depots is still going on, and once the situation returns to normal, the boxes will start to be shipped to the port.
An official in Chittagong said that container loading and unloading at the port yard is also going on as usual, but no boxes are being shipped out of the port area due to road blockades.
Southeast Asian countries, represented by Vietnam and Bangladesh, are the main beneficiaries of the transfer of textile industries from China to overseas in recent years, and the textile industry is developing at a high speed. Because of their weak foundation, these countries mostly import fabrics from China and export them after processing them into ready-made clothes in their own country.
Due to the limited population and general economic development, domestic demand is insufficient, and market demand is greatly affected by overseas markets. However, in recent years, affected by a series of factors such as the Fed's interest rate hike and inflation in Europe and the United States, the markets of developed countries in Europe and the United States have been unable to meet their own production capacity, causing a surge in unemployment and generating a large number of social problems. The previous tariff increase by Indonesia also follows a similar logic.
Unlike China, China has encountered similar problems in the past during economic crises, but China has a large population, which is equivalent to a large market, and finally overcame the corresponding crisis by developing the domestic market.
As for Bangladesh's current second largest textile and clothing export volume in the world, it is difficult to digest these increases by relying on the domestic demand of 170 million people.
The world has entered a turbulent period. The change in Bangladesh's quota system is only a fuse that triggers the conflict, and there may be some forces behind it that are fueling the flames. However, the root of all this is that in the context of the global economic downturn, the orders of these countries in Southeast Asia that mainly rely on foreign trade exports have shrunk, and the employment problem is extremely serious.
Europe and the United States are troubled by inflation, Southeast Asia is troubled by employment, and the Middle East, Russia and Ukraine are even more at war... The world has entered a turbulent period.
No boxes can be shipped from the port
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