How plan to free millions in container deposits will work

Korea Marine Transport Container (KMTC) Shipping Line's vessel christened MV KMTC Hochmihn docks at Berth 22 at the Port of Mombasa. [File, Standard]

For years, shipping lines have pressed shippers and clearing agents hard with stiff charges in form of deposits paid for containers that they have to keep for a limited number of days.

The deposits have been described as one of the biggest non-tariff barriers to regional trade. For example, a clearing agent must pay $4,000 (Sh516 000) for a single container; when one has 20 containers, this translates to over $ 100,000 (Sh13 million).