Thai Moçambique Logistica (TML) is reviving its initiative to construct a coal port in Macuse, Mozambique, near the Zambezi River mouth. Despite the waning interest in Mozambique’s coal industry, TML is committed to proceeding with its long-term investment, having secured US$500 million for the project. Construction is slated to begin in mid-2024 on a 5.3 square kilometer parcel of land designated for the port, as reported by Bulk Materials International.
Category: Shipping News
Israel seeks to buy Cypriot port
Israel’s Ministry of Transport is planning to purchase a port in Cyprus to provide a checkpoint to inspect aid destined for the Gaza Strip. According to Israeli newspaper, Yedioth Ahronoth, Minister Miri Regev dispatched a delegation led by the head of the government-owned Israel Ports Company, Uzi Itzhaki, and members of the Shipping and Seaports Authority to Cyprus on Monday. The delegation has been instructed to consider opportunities to buy
South African Ports Regulator and B-BBEE Commission Unite to Advance Sector Transformation
The Ports Regulator of South Africa (PRSA) and the Broad-Based Black Economic Empowerment (B-BBEE) Commission have signed a Memorandum of Understanding (MoU) to address transformation in the ports sector. The MoU facilitates the exchange of information, strategies, expertise, and research related to B-BBEE and transformation, aiming to bolster economic empowerment within the sector. According to a joint statement, the partnership seeks to tackle the slow pace of transformation, citing statistics
Revitalization Efforts Propel Port of Cape Town Towards Economic Growth
The Port of Cape Town is experiencing a resurgence, propelled by enhanced management, collaborative efforts, and continuous upgrades. Efforts to prioritize equipment availability and streamline operational processes have significantly improved efficiency, while investments in staff capacity have boosted productivity. Industry stakeholders in the Cape region have applauded these advancements, acknowledging the progress made while recognizing the ongoing journey towards improvement. Terry Gale, chairman of Exporters Western Cape, highlighted the positive
US Cargo Imports Surge Amid Supply Chain Adaptations
The latest data from the Global Port Tracker report, released by the National Retail Federation and Hackett Associates, indicates an increase in import volumes at major container ports in the United States. This growth comes as the supply chain adapts to ongoing disruptions caused by Houthi rebel attacks on commercial vessels in the Red Sea. Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy, highlighted retailers’ efforts to
Senegal’s Ndayane Port Project Spurs Economic Growth
Senegal anticipates robust GDP growth of 9.2% with the onset of oil and gas production in 2024, paving the way for an average annual growth rate of 5.8% from 2025 to 2028. To support this growth trajectory, the government is prioritizing sectors crucial for hydrocarbon development and economic transformation. Aligned with its Emerging Plan for 2035, Senegal is poised to evolve into an integrated and competitive logistics hub. Efforts to
Angola’s Lobito Corridor attracts financial aid to 370 companies
Angola is poised to embark on a transformative journey with the launch of the “Diversifica Mais” project aimed at bolstering economic growth and job creation. Spearheaded by the Ministry of Planning, this initiative will provide financial aid and technical support to businesses operating along the Lobito Corridor, a vital economic artery in the country. The project director, Laércio Cândido, unveiled the ambitious plan, which will extend until 2029, focusing on
Tanzania Seeks Egyptian Investment for Dar es Salaam Port Expansion
The Tanzanian government is actively engaging Egyptian investors to undertake the construction of three additional berths at the Dar es Salaam port, aiming to enhance efficiency at the country’s primary maritime hub. The Tanzania Ports Authority (TPA) plans to construct berths 12, 13, 14, and 15 to accommodate the increasing cargo volumes at the port, driven by strategic projects and improved economic activities in neighboring countries. TPA Director General, Mr.
Cargo ship attacked by Houthis sinks off Yemen Coast
A cargo ship has sunk two weeks after being attacked by Houthis in the Gulf of Aden. Yemen’s government said the Rubymar was drifting and taking on water for days before it sank. It is the first ship to have been sunk by the Iran-backed rebels in Yemen since they began targeting vessels in the Red Sea. The ship was reportedly carrying fertilisers and experts say the sinking risks “an
Russia Boosts Fuel Exports to Senegal
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