Hapag-Lloyd stops shipping cargo from Singapore to Bangladesh

Hapag-Lloyd, one of the world’s biggest container shipping companies, has suspended carrying fresh Bangladesh-bound cargoes from Singapore port, which may worsen the ongoing container crisis in Chattogram port. The company has stopped it as per the advice of the Port of Singapore just a couple of days ago, according to a document obtained by the FE.
The advice reads: “The German shipping giant will not carry Bangladesh-bound cargoes up to 4 weeks.”
People at the shipping circle in Dhaka and Chattogram said that many big container transportation firms were now focusing on China, Europe and USA routes for their recent economic booms coupled with higher freights.
Hapag Lloyd, the world’s fifth-largest shipping firm by fleets, has a significant market share in Bangladesh as it carries nearly 9,000 TEUs (20-foot equivalent units) of imports per month.