Transhipment volumes drive growth at new South African port

South Africa's newest container terminal has reported a surge in throughput, led by transhipment volumes from the Far East, South America and Africa. Since opening in October last year, the port of Ngqura handled 35,403teu and 43 vessel calls to January 31.

January saw 18 ships arrive, compared to an average of seven in the previous three months. After a cautious start, handling only 2,960teu in October, the Transnet Port Terminals (TPT)-operated facility maintained steady growth and handled 19,606teu in January. Some volumes have moved from neighbouring Port Elizabeth, though some service lines are still calling at that container terminal. Ngqura has attracted regular port calls from carriers MSC and MOL. TPT said other lines were showing interest and contracts were being negotiated.

"Our strategy was always to position Ngqura container terminal as a potential transhipment hub because of its position midway between the Americas, the Far East and Asia," said Siya Mhlaluka, TPT divisional executive manager for the container sector.

"We are seeing a good response now, with vessels coming in from the Far East to drop off containers that are then picked up by vessels heading to South American locations."

· Transnet, TPT's parent company, is to sell US$2bn of bonds on the London Stock Exchange. The company is seeking to supplement its $3.9bn domestic debt programme by tapping into international capital markets without explicit government backing.