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EWL closure not adversely affecting shipping industry

Dec 15, 2008 News

Chairman of the Shipping Association of Guyana, Andrew Astwood, has said that the recent closure of the Europe West Indies Line (EWL), a major shipping line, has had an effect on Guyana and perhaps most of the Caribbean neighbours, but there have only been a few minor reductions in freight costs.

However, he noted, a lot of persons have been trying to get into the market and pick up the slack.
Astwood pointed out that Guyana has always been faced with high freight costs, and with competition prices tend to fluctuate.

He added that he could not decisively determine the impact of EWL’s closing in terms of reduced freight.
Astwood, also Managing Director of the Guyana National Shipping Corporation (GNSC), said that his company has observed some minor reductions in freight in certain areas.

“I cannot speak for all the shipping lines, but I can speak for GNSC as MD and for the lines that we operate with: we have observed some minor reductions in freight to areas that we know our principals would like to see return cargo.”

He explained that some shipping lines will have empty containers in a particular environment and, instead of sending them back to a particular region empty, they would rather just put cargo in them at reduced rates.

According to Astwood, because of the available exports from Guyana, which primarily right now are non-traditional exports like lumber and scrap metal, lines are taking the opportunity to export those commodities in their empty containers that are in this country.

Astwood noted that one of the major challenges that Guyana faces as a shipping industry for the longest while is that draft restrictions hamper large vessels from getting in and out of the harbour easily, and it can be very costly for companies doing business here and lines coming to Guyana; and as a result, freight cost is affected.

“The cost of getting goods to and from Guyana can be affected by lines having to pay more for freight.”

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