AFRICAN container port investment continues to be a growth area in contrast to a mature US and Western European markets, due to rising demand for finished goods and comparatively low levels of containerisation, says latest report from Drewry Maritime Research.
North Africa container traffic 13 per cent with an 11 per cent overall growth in the continent's ports. North Africa was able to cash in on its geographical location between Asia and Europe. In total its container handling capacity was up to an estimated 37 million TEU during 2012.
Global and international container terminal operators (GTOs and ITOs) control much of the continent's container traffic at 17 per cent in 2007 to almost double by 2013 to 31 per cent. Five years ago, APM Terminals cornered much of the cargo handled along with Cosco Group, DP World, HPH and ICTSI. New entrants to the market include CMA CGM/Terminal Link, MSC/TIL and Eurogate.
Privatisation and greenfield projects will make up the majority of future investments despite the fragile political and economic climate of Africa, said the Drewry report.
APM Terminals continue to dominant the market in West Africa at 11 terminals, and a recent concession agreement with Bollore and Bouygues for Abidjan's second terminal built to handle 8,000-TEU vessels at an investment cost of US$590 million.
Outside of western and northern Africa, the potential for growth is still high particularly in eastern and southern parts of the continent.
Dubai port operator DP World has doubled its presence in Africa with recent acquisitions in Senegal and Djibouti increasing its traffic throughput by equity to 5.4 per cent last year from 1.8 per cent in 2007.
In 2010, DP World also signed a 35-year concession agreement with the Red Sea Port Authority to develop and operate the new terminal in El Sokhna, which, at full capacity, will be able to handle 1.75 million TEU annually. It has signed a 100 per cent concession to build a new 1.75 million TEU terminal at Dakar by 2016.
CMA CGM/Terminal Link continues to hold a strong presence at three terminals in Morocco and the Ivory Coast. It signed a 65-year concession agreement with the Sao Tomean government in August 2008 for a large greenfield terminal on the island (off the coast of Gabon) with an operational date yet to be set.
South Africa's Transnet remains a local player in regional terms within South Africa only but still handled an impressive four million TEU in 2012.
PORTS
06 August 2013 - 21:33
Africa remains a high growth area for port development, says Drewry
AFRICAN container port investment continues to be a growth area in contrast to a mature US and Western European markets, due to rising demand for finished goods and comparatively low levels of containerisation, says latest report from Drewry Maritime Research.
PORTS
06 August 2013 - 21:33
Africa remains a high growth area for port development, says Drewry
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