live U.S.-Iran standoff continues as Hormuz shipping and diplomacy remain uncertain
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to res...
A large fire at the import cargo complex of Dhaka airport has caused significant damage to goods and materials belonging to key garment exporters, with losses and impacts on trade potentially amounting to millions of dollars, according to industry leaders on Sunday.
The fire broke out on Saturday afternoon in the import section of the airport's cargo village, leading to a temporary suspension of flights. On Sunday, smoke continued to billow from the remains of the facility as firefighters and airport officials assessed the damage.
The blaze destroyed storage areas containing imported raw materials, ready-to-export apparel, and product samples — all vital to Bangladesh's $47 billion garment industry.
"This incident has caused severe damage to the country's export trade, particularly in the garment sector," said Inamul Haq Khan, senior vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
"High-value goods and urgent air shipments have been destroyed, including garments prepared for shipment, raw materials for production, and, most importantly, product samples."
He cautioned that the loss of these samples could jeopardise future business. "These samples are crucial for securing new buyers and expanding orders. Losing them means our members may miss out on future opportunities," he added.
BGMEA has started collecting information from affected exporters to assess the scale of the losses. "We have asked all members to submit detailed lists of damaged goods, and an online portal has been launched to speed up the data collection," Khan said.
The airport cargo village is one of Bangladesh's busiest logistics hubs, handling over 600 metric tons of dry cargo daily, a figure that doubles during the peak season from October to December.
"Every day, around 200 to 250 factories send their products by air," Khan explained. "Given the scale, the financial impact is substantial."
The cause of the fire is yet to be determined, and an investigation is underway.
This incident marks the third major fire in Bangladesh this week. On Tuesday, a fire at a garment factory and an adjacent chemical warehouse in Dhaka claimed at least 16 lives and injured others. On Thursday, another fire destroyed a seven-storey garment factory building in an export processing zone in Chittagong.
Bangladesh is the world’s second-largest exporter of apparel after China. The sector, which supplies major global retailers such as Walmart, H&M, and Gap, employs around 4 million workers and generates approximately $40 billion annually — more than a tenth of the country’s GDP.
The fire, which occurred during the peak export season, is expected to cause delays in shipments and present further challenges in meeting international delivery deadlines.
The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
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