Al-Ansari: Ministry of Commerce Discussed Latest Developments in Shipping Activity
The Trade Control and Consumer Protection Department at the Ministry of Commerce and Industry held a meeting with representatives of shipping companies to discuss recent developments concerning shipping movements and the supply of goods to Kuwait, amid the current circumstances in the region.
Faisal Al-Ansari, Director of the Trade Control and Consumer Protection Department, stated that the meeting addressed the repercussions of recent developments related to the Strait of Hormuz and their impact on maritime navigation and shipping routes, which have led to increased costs for transportation, shipping, insurance, and logistics services.
Al-Ansari added that these developments have resulted in a noticeable increase in the cost of supplying goods to Kuwait, necessitating close monitoring of shipping movements and associated costs to ensure the continued flow of goods to the local market and to mitigate any unjustified impacts on prices.
He clarified that shipping company representatives highlighted during the meeting the rising cost of containers, which represents an additional expense that could be reflected in the prices of goods and products.
He noted that shipping companies explained they are working to utilize alternative shipping routes and lines, including transshipping and receiving containers in various Gulf Cooperation Council (GCC) countries and using alternative ports when necessary, with the aim of ensuring the continuity of cargo movements and preventing disruptions to supply operations.
He pointed out that this mechanism provides suitable alternatives for delivering goods to Kuwait, reduces delay periods, and limits additional shipping costs, thereby contributing to maintaining supply chain fluidity and local market stability.
He further added that the Trade Control and Consumer Protection Department will study appropriate solutions and alternatives to mitigate the effects of rising shipping costs, thereby enhancing consumer protection and preserving the stability of goods prices and their continued availability in the local market.
