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Business Recorder: Egypt receives offers in GASC wheat tender after brief trader standoff

This comes after initially drawing zero bids from suppliers agitated by what they said were growing demurrage fees.
10.01.18 | Interesting article at Business Recorder

Egypt, the world’s largest wheat importer, received seven offers in an international purchase tender on Tuesday, traders said, after initially drawing zero bids from suppliers agitated by what they said were growing demurrage fees.

Traders had said earlier that they were hesitant to present offers amid disagreements about demurrage payments, which are fees charged to suppliers for vessels sitting at ports past the contracted period.

Suppliers say outstanding demurrage fees have increased in recent months owing to Egypt’s lengthy and erratic inspection procedures, which at times left vessels stranded at Egyptian ports.

State buyer GASC is seeking wheat for shipment Feb. 11-2018