Empty container delays are driving up importers’ costs

Guardian Nigeria

Are soaring container costs sinking your import business? Discover why Nigerian importers are facing massive upfront deposits and lengthy delays in getting them back!   This video breaks down the complex issue of container depository funds and detection charges that are impacting trade. Learn about the significant euro deposits required for both 20-foot and 40-foot containers, the varying amounts based on shipping line addresses, and the strict 14-day return window.   We expose the frustrating reality of shipping lines often refusing refunds due to alleged container damage, even when returned on time. Understand the reasons behind the lengthy refund process, which can take up to a month, and why importers and freight forwarders are calling for urgent government intervention.   Find out why the lack of holding bays for empty containers is a critical concern and what needs to be done to streamline the process for Nigerian businesses.   #NigeriaImports #ContainerCosts #TradeChallenges

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00:00For another Nigerian like you and I, you may be wondering why are importers afraid for others in the media

00:04complaining about container depository funds and container detection charge?

00:08This is what you should know.

00:09When an importer brings in a 40-foot container, he's expected to pay 200,000 euro on that container

00:15as deposit to the shipping company.

00:17This is when the shipping line has an address in Lagos.

00:20But when the shipping line addresses outside Lagos, he pays 400,000 euro.

00:23That's for a 40 feet container.

00:25For a 20 feet container, he pays 100,000 euro for Lagos address and 200,000 euro for address outside

00:31Lagos.

00:31Importers and freight forwarders are expected to return these containers to the shipping lines within a period of 14 days.

00:38And when it exceeds these 14 days, they don't get a refund of their money.

00:41The issue is when importers and freight forwarders return these containers within the stipulated period,

00:46shipping lines refuse to refund this money with the excuse that the containers are damaged.

00:50Whereas the ones that return their containers without issues still struggle to get their money refunded.

00:56It takes about three weeks to one month to get their money refunded.

01:00This is why the freight forwarders, the importers are lamenting, asking the federal government to investigate

01:07because these shipping companies are not providing holding bags for the empty containers.

01:11This is why the importers and freight forwarders are calling on the federal government to investigate this issue.

01:16This should be made possible to remove two units.

01:18This should be made possible by the federal government,

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