Fee hike worries manufacturers
FOR the second time in months several shipping lines have announced increases in their handling charges, and local manufacturers are concerned that these increases will add to their costs.
In a statement yesterday, the Trinidad and Tobago Manufacturers' Association asked companies which have announced an intended increase, in some cases of up to 12 per cent, to provide reasons for doing so.
The TTMA said "various shipping lines" recently notified members of their intention to raise Terminal Handling Charges (THCs).
For some of these lines, it is the second such increase in six months.
One shipping line has given notice of a 12 per cent rise, which will see TCHs go from US$169 per container to US$189, effective September 1.
Other shipping lines have announced similar increases.
"The TTMA notes that these increases add to cost of inputs into manufacturing, which will affect the cost of finished products, and this will likely be passed on to the consumers," the Association stated yesterday.
"This places our manufacturers in an uncompetitive position not only in the local market but also in the export markets. The fee increase will have a negative impact on imported goods as well, and will add to the rising cost of doing business in this country."