Trade expected to reduce freight costs by early 2022

For the first quarter of the year 2022, the trade sector foresees that there could be a significant reduction in the cost of maritime transport freights for products imported from Asia and Europe.

The president of the Federation of Traders, Iván García, expressed that with the reduction of freight prices, there would be a reduction in the payment of taxes that traders pay to the General Directorate of Customs.

In addition to this, the trade is looking for alternatives to try to buy in North America and Central America, because those regions have only been affected with a 10% increase in the price of transport, and thus see how to compete.

“With the increase in freight rates in the case of Europe from 3,700 to 11,700 dollars, eight thousand dollars more, and in China from 3,000 to 18,000 dollars, the costs of many materials used in construction and household items have increased,” said Garcia.

On his side, the president of the Shipping Association, Teddy Heinsen, estimates that the growth of exports and imports will have an increase of at least 10% to 11%.

“Possibly freight rates will drop somewhat, but not substantially, it will all depend on how much space is dedicated to the Dominican Republic from ships from China to the country,” said Heinsen.

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