Clearing firms hope to process more cargo, grow businesses

The burden of container deposit guarantees affected the cost of business for struggling clearing and forwarding firms that offer logistics to cargo owners. [File, Standard]

A number of clearing and forwarding firms and customs agents have closed shop or scaled down businesses, citing the high cost of doing business amid strict compliance issues enforced by government agencies.

However, a deal with a Swiss firm that takes up the burden of container deposit guarantees with shipping lines is seen as positive development for struggling clearing and forwarding firms that offer logistics to cargo owners.