Russia has increased its fuel exports to Senegal, according to traders and data from financial information company The London Stock Exchange Group (LSEG). Oil supplies to Senegal hit 550,000 metric tons in the first two months of 2024 alone. In comparison, exports totaled 1.08 million tons for the entirety of 2023 and 0.37 million tons for 2022. LSEG attributes the rise in exports to heightened demand for bunker fuel as
Author: Constance Makungu
Gebrüder Weiss Achieves Resilient Growth Amid Economic Challenges
Gebrüder Weiss, the international transport and logistics company, reported a net revenue of 2.47 billion euros for the fiscal year 2023, marking a decline from the previous year’s 3 billion euros. Despite this, the company remained above its growth trend observed between 2015 and 2020, demonstrating resilience amid economic fluctuations. The effects of the COVID-19 pandemic that impacted the two preceding years did not persist in 2023. Net revenue in
Transnet Approves ICTSI Contract for Durban Container Terminal 2
Transnet’s board has given the green light for the finalization of the contract to operate Durban Container Terminal 2, which will be awarded to the preferred bidder, Philippine terminal operator ICTSI. The completion of the financial close is pending other non-financial processes, Transnet’s chairperson of the Board of Directors, Andile Sangqu, announced on Friday. ICTSI was selected as the preferred bidder in July 2023, and after completing financial due diligence
Africa Global Logistics Commences Operations at Port of Lobito
Africa Global Logistics (AGL) marked a significant milestone last week as it received the first cargo ship at the Port of Lobito in the Benguela province of Angola. The arrival of the ship at the general cargo terminal signals the formalization of AGL’s activities in operating the Multipurpose terminal at Porto do Lobito. Managed by the firm Seatrade, the cargo ship, measuring 169.37 meters long, brought 6,500 tons of rice
US CALLS FOR PROGRESS ON ZAMBIA-LOBITO RAIL-LINE
United States President JOE BIDEN’s Senior Advisor AMOS HOCHSTEIN has called for an accelerated path towards achieving a bankable concession agreement for the new Zambia-Lobito rail line. Mr. HOCHSTEIN says this must be aligned with host country laws, and coordinate additional investment projects that complement and benefit from the core transportation investment. He says the project will also come along with infrastructure investments in digital access, clean energy and energy
Qatar Airways Cargo retires A7-BGB
Qatar Airways Cargo’s Boeing 747F, registration A7-BGB, landed for the last time in commercial cargo service for QR Cargo as the airline fast-tracks its focus on greener flying. Arriving from Barcelona, Flight QR8807 touched down in Doha at 15:00 local time on Friday, 01 March, 2024. A7-BGB joined the Qatar Airways Cargo fleet on 26 September 2017. Over the past seven years, the two iconic freighter aircraft were deployed on
Ethiopian Airlines signs MOU for latest Boeing purchase
Ethiopian Airlines Group, the largest aviation group in Africa, and Boeing, a leading global aerospace company announced the signing of Memorandum of Understanding (MOU) for the purchase of the latest Boeing 777-9 airplanes. The agreement includes the purchase of eight 777-9 passenger airplanes and the potential for up to 12 additional jets by Africa’s largest airline, Ethiopian. Ethiopian Airlines’ selection of the 777X positions the carrier as the first 777X
Ethiopian Airlines Opens Cutting-Edge Facility at Bole International Airport
Ethiopian Airlines Group, the largest airline group in Africa and one of the fastest growing airlines brand globally, proudly announced the launching of its state-of-the-art e-commerce logistics facility in a grand event last week. The Ethiopian e-commerce facility is located inside the Ethiopian Cargo & Logistics premises. The newly built facility, which is dedicated to e-commerce, mail and courier logistics services is aimed at bridging logistical gaps and positioning Addis
Africa’s global trade participation still stands at less than 3%
Africa’s global trade participation still stands at less than 3%, largely driven by merchandise trade in 2023, the Economic Commission for Africa (ECA) report on the assessment of progress on regional integration in Africa has said. According to the report, African countries continue to conduct a greater volume of trade with countries beyond the continent rather than among themselves. Despite advancements in monetary and financial integration, the report indicates that
Panama port container volumes decline for second year running
It was the second year in a row that the transhipment hub showed a decline and all terminals were in the red except for Balboa that posted a 6% growth. The Panama Canal restrictions initiated mid-2023 with the waterway reducing the draught, helped the terminals recover some of their volume in the last four months of 2023. Shipping lines which were obliged to reduce the number of containers carried to