Shippers charging US$ for local fees

Shipping agents in Trinidad and Tobago are facing scrutiny for allegedly charging local administrative and amendment fees in US dollars, a practice the Couva/Point Lisas Chamber of Commerce deems problematic amid a severe foreign exchange shortage. The chamber is urging a state investigation into these practices, emphasizing that the Trinidad and Tobago dollar remains the country's legal tender.

While acknowledging that international ocean freight charges may legitimately be invoiced in US dollars due to global shipping conventions, the chamber highlighted that local fees for services like documentation, delivery orders, and amendments are being invoiced in foreign currency. They contend that these are often converted at rates significantly higher than those officially recognized by the Central Bank, placing an unreasonable burden on local businesses and consumers already struggling with currency scarcity.

The chamber cited concerns regarding the use of exchange rates exceeding legal limits and pointed to documented cases where consignees are charged exorbitant amendment fees, sometimes as high as US$255, for minor corrections. These fees, they noted, are not imposed by the Customs and Excise Division but by private shipping agents. The chamber is questioning the fairness, transparency, and regulatory oversight within the shipping and logistics sector, urging ministries and the Central Bank to address these issues.