Boston, MA -- (ReleaseWire) -- 05/01/2014 -- Growth at South African ports is threatened by the global headwinds that are posing challenges for the country as a whole, namely the China slowdown and the drying up of foreign inflows due to the raised possibility that the extraordinarily loose monetary policy that has been the norm in the US is tapered off. However, with continued investment in facilities, growth in private final consumption, and ever-expanding coal exports, we forecast growth in both total tonnage and container volumes at South African ports in 2014.
Headline Industry Data
- Richards Bay Port tonnage throughput in 2014 is forecast to increase by 4.2%. Over the medium term to 2018 we project a 4.8% average annual increase.
- Port of Durban container throughput is forecast to grow by 2.0% in 2014. Growth will average 2.8% per annum in the medium-term forecast period to 2018.
- 2014 total trade growth is forecast at 5.3%, and to average 5.3% per annum to 2018.
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Key Industry Trends
TNPA Reaffirms Durban Harbour Development Plans Despite Criticism: South Africa-based Transnet National Ports Authority (TNPA) has reaffirmed its plan to lengthen and deepen Durban harbour. The confirmation follows media reports stating that the project is facing criticism from several environmental groups. The Department of Environmental Affairs (DEA) has not discarded the Environmental Investigation Agency (EIA)'s approval for the deepening, lengthening and widening of berths 203 to 205, according to a TNPA spokesperson.
Power Failure Hampers Exports: Following a poor month in January, in which there was a sizeable drop in throughput as compared to January 2013, Richards Bay Coal Terminal suffered a power cut on January 31 which parylised the terminal for a week. This halt in exports from the terminal will have cost South Africa around ZAR200mn in exports a day. The power cut will not only affect the one week.
RBCT Plans To Expand Coal Capacity To 110mn Tons: Richards Bay Coal Terminal is planning to go for an expansion to increase its annual coal capacity from 90mn tons to 110mn tons. Through the expansion, the terminal is aiming to serve the growing demand for coal export. The port is well equipped with the requirement to go for an expansion, according to RBCT CEO Nosipho Siwisa-Damasane.
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