Ctg port suspends fourfold 'storage rent' for a month

The Chattogram Port Authority (CPA) has suspended for one month the fourfold 'storage rent' imposed previously on imported Full Container Load (FCL) containers, following persistent demands from importers and business organisations.

According to a CPA notification issued today (26 August), the exemption will be effective from 23 August to 22 September. The suspension, however, does not cover empty containers.

The fourfold storage charges were introduced on 10 March this year at Chattogram Port, as well as the Kamalapur Inland Container Depot (ICD) in Dhaka and the Pangaon Inland Container Terminal (ICT) to ease congestion at its yards.

The move came amid growing concerns that some importers are using the port as a makeshift warehouse, delaying the clearance of goods to manipulate market prices. Since March, traders were paying fourfold storage fees — $24–$96 per day for a 20-foot container and $48–$192 for a 40-foot container.

Previously, containers can be kept free of charge in the port yard for four days after unloading. After that, daily charges began at $6 for a 20-foot container and $12 for a 40-foot container during the first week, gradually rising to $24 and $48 respectively by the third week.

CPA Secretary Omar Faruk said, "The decision was made in response to requests from various business organisations. The next course of action will be determined after a month, depending on improvements in container delivery. We urge importers to take prompt delivery of their containers to ensure smooth port operations."

BGMEA Director Rakibul Alam Chowdhury welcomed the move, stating, "We have repeatedly requested the port authority to withdraw the fourfold increase in storage rent. The one-month suspension is a positive step, and we hope the previous rent structure will continue."

As of 26 August, Chattogram Port was handling 41,282 TEUs against a total storage capacity of 59,000 TEUs.

However, the CPA recently increased container storage capacity by 10% at the country's main seaport, raising the overall yard space from 53,518 TEUs to 59,000 TEUs.