Last update: 23-Apr-2014 5:32 am
Wednesday, April 23, 2014
Trinidad & Tobago Guardian Online
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Terminal handling charges increase
The T&T Manufacturers’ Association (TTMA) is calling on shipping lines to justify a 12 per cent increase in Terminal Handling Charges (THC) which stakeholders of the port and the business community must pay from September. In a statement yesterday, the TTMA said that it “understands that one shipping line, CMA CGM has notified members of a 12 per cent increase in the THC from US$169 to US$189, effective from September 1.” The statement pointed out that the increase was the second in six months and that several other shipping lines had advised that increases in the charges will be implemented. Terminal handling charges (THC) are fees collected by shipping lines to cover the cost of loading or unloading containers on to ships from the container terminals and from the ship to the container terminal. In a statement, TTMA said: “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. This places our manufacturers in an uncompetitive position not only in the local market but also in the export markets.”
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