Home » Customs & Trade » Soft business for bonded warehouse operators in 2010

BUSINESS for bonded warehouse operators will continue to be soft this year although stronger than in 2009.

Customs Bonded Warehouse Operators Confederation (CBWOC) president Alfredo Yatco told PortCalls “the slow but steady rise in businesses particularly in the US and the election year in the Philippines are good momentum swings.”

Strong business in the Asia-Pacific region is also a positive contributor.

“Our overall prognosis for 2010 is that softness in business will continue to stay for sometime. Businesses have started to move and we expect (the situation) will be maintained (so that we can) start full recovery from the effects of the global crisis,” Yatco said.

CBWOC also expects greater activity in the garments industry with the country’s election season stimulating demand for campaign t-shirts and similar giveaways.

Last year, warehouse operators were one of the hardest hit by the global economic crisis.

With import and export volumes showing double-digit declines, warehouse operators have had no choice but to streamline their business – with others opting even to close shop.

Last year, operators saw a dramatic drop in containers to three to five a month from the usual 30 a month.

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