Scrapping hits record high, but fleet growth continues
Durban, Thursday 27 October 2016
A record number of containerships have been scrapped this year as owners counter overcapacity and rock-bottom freight rates. So far this year 147 vessels, totaling 507 000 TEUs of capacity, have been sent to the shipbreakers compared to 185 000 TEUs last year, new data from Braemar ACM shows. This year’s total beats the record 427 000 TEUs scrapped in 2013, as owners turn to shipbreakers to rid themselves of excess tonnage despite rock bottom steel prices.
Port projects tweaked to suit market
Durban, Wednesday 26 October 2016
Transnet National Ports Authority (TNPA) said it had built flexibility into the tender specifications for Operation Phakisa new build projects at its ports in order to meet the current economic climate.
Speaking at the African Ports Evolution 2016 Conference in Durban last week, Ricky Bhikraj, Executive Manager for Capacity and Enablement at TNPA and Programme Director of the Authority’s Operation Phakisa programme, said: “The global economic slowdown and lower oil price has had implications for new facilities being built by TNPA under the government’s Operation Phakisa initiative. We remain committed to advancing these projects but will continue to realign our expectations with the expectations of investors in order to come up with collaborative solutions that are matched with market risk. We have built in the potential to scale projects up as required.”
Working out what the SA ports will charge
Durban, Tuesday 25 October 2016
The Ports Regulator is currently in the process of conducting a review of the current multi-year tariff methodology (2015/16–2017/18) in order to finalise an agreed methodology that will apply from the 2018/19 tariff year going forward.
And from today (October 24) a series of public hearings by the regulator will be held around the country (See FTWO October 18 issue).
To help you prepare for these, copies of the current tariff methodology may be found on the regulator’s website at www.portsregulator.org
EMC and DCCI Chairman ascends to the helm of SA Chamber of Commerce
Durban, Friday 21 October 2016
Zeph Ndlovu, Chairman of the Durban Chamber of Commerce and Industry (DCCI), has been elected as the president of the South African Chamber of Commerce and Industry (SACCI). Ndlovu takes over the reins from Vusi Khumalo, and will serve a two-year term.
Ndlovu, who is the current chairman of the board of directors at EMC, was elected as president on Wednesday at the SACCI Annual Convention. DCCI says it is delighted with its chairman’s appointment, and proud of him for flying the Durban Chamber’s flag high. The organisation believes that he will excel in his new position. #DurbanMustRise.