Due to stocks, the international transportation giants will only charge for goods to Argentina overseas

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The latest restrictions to limit the loss of dollars have begun to impact foreign trade operations. Various giants of international transport and logistics they anticipated it stop charging for goods in Argentina. Thus, local operators Permits will need to be processed import for transfer currency to an overseas account or look for other alternatives.

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The main shipping companies, such as Maersk, Hamburg Sud and Hapag-Lloydnotified the adjustments to its collections following communication A 7746 from the Central Bank, which freight payments deferred for 90 days between related companies. Until last April 20, freights could be paid in pesos and then the big shipping companies accessed the foreign exchange market to send the currencies to their parent companies.

Now, some will not accept payment at destination (ie Argentina) e will be debited from overseas accounts. “Based on the recent measures taken by the Central Bank in relation to international currency transfers affecting the shipping services provided by Maersk, we inform you that as of May 15, 2023 all invoices for shipments to Argentina will be payable at source,” he said. reportedly the largest shipping company in the world headquartered in Denmark.

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The decision of the big players has generated uncertainty between shippers, importers and exporters who depend on your shipping service. While the possibility exists for suppliers to pay overseas, local operators take it for granted they will end up taking on the “breakdown” of agreeing on a freight rate and waiting up to two months to get the foreign currency.

In addition to the deferral of payments by international transport companies, the Central Bank added another obstacle last week with communication A 7771, where it established that payments of transport abroad must process a permit to import services (SIRASE) before the Secretary of Commerce, chaired by Matías Tombolini, who it may take up to 60 days.

The measures have had an impact on cost increase of the cargo Until the end of April, the shipping agencies estimated their costs with an exchange rate 5% higher than the importing dollar, today at 244.50 dollars. As a result of the changes, services began charging at a dollar close to $350, which implies a 40% currency gap, and there is concern about the activity, according to sources at the Federation of Foreign Chambers of Commerce (FECACERA).

“In the short term it will cause a disruption in the flow of the logistics chain, with the consequent impact on commercial operations, in particular SMEs that do not have the infrastructure or financial capacity to pay for transportation at the origin. In the medium term, logistics chains may break, with which trade flows will be disrupted from and to Argentina,” FECACERA said in a letter sent to the head of the BCRA, Miguel Pesce.

The government justified the latest measures in complaints filed by customs to control the goods overbilling. Together with AFIP, the organization put under the magnifying glass Mediterranean Shipping Company for processing 87% more currencies in 2022 than the previous year. And weeks ago, they alerted importers, ports and shipping companies of the apparent lack of controls.

Since the last currency run, the BCRA has tightened restrictions on imports, with an eye to the payment of professional services, interest on intra-company debts and freight transport. The goal is defer the foreign exchange payment of US$ 2,000 million to the end of the year. Especially in the midst of efforts to contain the reserve drain and avoid a pre-election devaluation.

Source: Clarin

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