New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/28/2013 -- South Africa's ports sector continues to meet investment from state-run freight and logistics infrastructure Transnet, which will stand the country in good stead to deal with its expected economic development over the long term. More immediately, however, throughput at the country's facilities is threatened by two key global developments. The forecast contraction in key trade partner the eurozone and the possibility of a hard landing in China could see volumes falter in the short term. This is being borne out with year-todate volumes at the Port of Durban, the country's largest container port, declining. Total tonnage volumes at the largest port in terms of total tonnage however - the Port of Richards Bay - has continued to enjoy strong growth, suggesting that the China fears are as yet unwarranted.
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Headline Industry Data
- Richards Bay Port tonnage throughput in 2012 is forecast to increase by 8.7%. Over the midterm we project a 3.0% average annual increase.
- Port of Durban container throughput is forecast to contract by 1.8% in 2012, from growth of 6.3% in 2011. Growth will average 4.8% per annum in the medium-term forecast period to 2016.
- 2012 total trade growth is forecast at 1.3%, considerably down on the 7.8% expansion registered in 2011.
Key Industry Trends
TPT Declares Force Majeure At DCT Pier 1
In September South African port operator Transnet Port Terminals (TPT) invoked the force majeure clause in terms of its commercial agreements at Durban Container Terminal (DCT) Pier 1. The move follows illegal industrial action in the form of go-slow by employees on September 10. The illegal industrial action impacted productivity and resulted in cargo congestion at the terminal. The notice was issued by DCT Terminal Executive Manager Hector Danisa.
Largest SA Container Vessel Docks At Durban
The Port of Durban has announced the arrival of the largest container vessel ever to dock at a South African facility. The MSC Sola, which has a capacity of 11,660 twenty-foot equivalent units (TEUs), docked at the port on July 5 2012. The Port of Durban underwent a ZAR2.9bn (US$357,941) expansion programme in 2010. BMI believes that the arrival of the large vessel at the port will demonstrate to other container shipping companies that Durban is capable of handling larger vessels, although it should be noted that the vessel was not fully laden when it called due to shallow waters.
Transnet To Spend ZAR33bn On TPT
South Africa's state-owned freight transport company Transnet is to invest ZAR33bn (US$3.92bn) in its Transnet Port Terminals (TPT) business unit. TPT's CEO Karl Socikwa said in June that a major tranche of the investment will be spent on multiple commodity terminals at the ports of Richards Bay and Durban. It forms part of Transnet's seven-year ZAR300bn (US$35.59bn) Market Demand Strategy to bolster capacity.
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