Venezuelan seaport tariffs to hike 46.5% upon new forex rate
State-run company Bolivariana de Puertos' tariffs and services are estimated in US dollars, so importers shall pay more
As set forth in Article 4 of Official Gazette 40,078, dated December 26, 2012, seaport tariffs and services are based on the updated fees schedule of state-run company Bolivariana de Puertos (Bolipuertos), which calculates tariffs and services at the official foreign exchange rate.
"Seaport tariffs regulated under this resolution are estimated in dollars of the United States of America, in compliance with international standards, but payments are made in local currency based on the foreign exchange rate as determined by the Central Bank of Venezuela, and shall be made prior to dispatch and/or final withdrawal of goods from the seaport facilities," the document reads.
In other words, once the new forex rate (VEB 6.30 per US dollar) enters into force next Wednesday, importers and shipping lines shall pay 46.5% more for Bolipuertos' services.
Translated by Jhean Cabrera
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.