Hundreds of Nepal-bound containers have been stuck at ports all over after shipping line Hanjin Shipping declared bankruptcy. Almost 20 percent of the goods imported by Nepali traders are carried by Hanjin.

Rajan Sharma, former president of the Nepal Freight Forwarders’ Association, said that around 400 containers had been stranded at various ports including Singapore and Kolkata.

“After the shipping line failed to come out of its financial crisis, the containers have not been transported to their destinations,” he said.

According to freight forwarders, importers have already paid the shipping line to have their goods transported from third countries. But they have not been able to receive their goods even though payment has been made by opening letters of credit.

Apart from losses to the traders, the government is likely to face revenue losses if the consignments are not dispatched on time. Sharma has asked the government to intervene to resolve the problem. “The government has to initiate talks with Hanjin and maritime organisations to ship the containers on time,” he said. (PR)