Chittagong Port, Bangladesh's major maritime gateway, is experiencing a significant decline in ship berthing activities, attributed to a slowdown in import volumes primarily caused by a dollar crisis. Industry sources report a 30% drop in ship arrivals, with container jetties for general cargo remaining vacant. The ongoing challenges in opening letters of credit (LCs) are hindering importers, leading to reduced imports and a subsequent decrease in ships calling at the port. The situation, unprecedented in regular times, is exacerbated by global economic downturn. Chittagong Port, handling over 92% of Bangladesh's trade, is vital for the country's economic activities.
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