Trade Surplus more than Doubled in First Quarter of 2024
South Africa’s trade surplus with the rest of the world more than doubled to R183 billion in the first quarter of 2024, the SA Reserve Bank reports in its latest Quarterly Bulletin.
Latest CCI Reading the Highest in 18 Months
South African consumer sentiment is improving although confidence remains “decidedly negative”, the latest FNB/BER Consumer Confidence Index (CCI) revealed on Thursday.
FMC Calls for Comment on Proposed Vessel-Sharing Agreement
The Federal Maritime Commission has opened a 12-day comment period allowing interested members of the public to respond to Maersk and Hapag Lloyd’s newly filed vessel-sharing agreement, the Gemini Cooperation Agreement.
Trade in DBN and Richards Bay on an Upward Trajectory
Durban’s business confidence, reflecting the broader region, has been on an upward trajectory for some time, despite facing significant challenges.
South African Ports Boost Container and Bulk Volumes
TPT announced on Friday that its container volumes had risen 10%, while bulk volumes and break-bulk volumes had increased by 5% and 17%, respectively, for the period as a result of its staff’s commitment to the group’s turnaround strategy.
Namport Moves Record Volumes
The Namibian Ports Authority (Namport) announced in a statement this week that the country’s ports had achieved throughput growth of 4% on the 7.7 million tonnes handled in 2023. The entity’s financial year ended on March 13, 2024.
Durban Port gets New Haulers Ahead of Citrus Season
Durban Container Terminals (DCT) has taken delivery of ten new haulers ahead of the start of the citrus season next month. The equipment delivery was the first batch of 45 fully assembled haulers that were expected to arrive by the end of May, DCT said in statement on Thursday.
Durban Port gets R3.4bn Multimodal Rail Terminal
Newlyn Group opened its new R3.4-billion multimodal rail terminal, one of the largest facilities in the Southern Hemisphere, near Durban port on 04 April. The Newlyn PX Bayhead Rail Terminal, which was developed in response to President Cyril Ramaphosa’s call for private investment in the country, is strategically located next to the port and is expected to enhance intra-Africa and local trade and investment opportunities.
Port of Durban Records an AfCFTA First for South Africa
South Africa’s first exports under the African Continental Free Trade Area (AfCFTA) were loaded on to vessels at the Port of Durban on Wednesday, marking what exporters and government leaders have described as a historic and significant milestone to boost trade on the continent.
South Africa’s Logistics Sector on a Precipice – Saaff
The South African Association of Freight Forwarders (Saaff) has described the domestic logistics crisis as a “perfect storm” strangling the private sector and trade, draining the fiscus and causing massive knock-on damage to the economy.
Maritime Traffic Around South Africa Rises Dramatically
Seaborne traffic across all shipping segments sailing around South Africa has risen by a remarkable 53% in the past three months as the world witnesses a sea change to the global liner trade map. In contrast to this increase, there has been a significant drop in maritime traffic between the Suez Canal and the Gulf of Aden because of Houthi rebels attacking maritime vessels in the Red Sea.
Air Cargo Alternatives Expected to Increase on Back of Red Sea Upheaval
Scan Global Logistics (SGL) has said it expects a gradual increase in airfreight volume as shippers and agents scramble for alternatives to ocean freight instability in the Suez Canal and costly delays from container vessels diverted around South Africa on east-west voyages.
South Africa’s Port Congestion Gives Airfreight Volumes a Lift
In a strategic move to strengthen its footprint and enhance its shipping solutions, SACO CFR is set to expand its export consolidation service in 2024.
Durban Container Terminal Pier 2 Recovers from Backlogs
The Durban Container Terminal (DCT) Pier 2 has averaged less than ten vessels at anchor over the last two weeks, having earlier ensured that all priority cargo across the retail, automotive, energy and FMCG sectors reached shelves at the required time.
Air Cargo Volumes Take Off
The International Air Transport Association’s (IATA) latest data for global air cargo markets, released on Tuesday, indicates the strongest year-on-year growth in roughly two years as air cargo volumes take off.
Durban Port Deepening Project to Start in 2024
Transnet National Ports Authority (TNPA) has issued a Request for Proposals (RFP) for the reconstruction, deepening and lengthening of berths at the Durban Container Terminal’s (DCT) Pier 2 North Quay in the Port of Durban, starting in 2024.
Transnet Secures Critical Spares for Port Equipment
Transnet Port Terminals (TPT) has concluded a seven-year agreement with four Original Equipment Manufacturers (OEMs) for the supply of critical spares to alleviate equipment constraints at the country’s ports.