{"id":63085,"date":"2024-02-16T16:22:18","date_gmt":"2024-02-16T16:22:18","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/container-terminal-management-talks-almost-complete"},"modified":"2024-02-16T16:22:18","modified_gmt":"2024-02-16T16:22:18","slug":"container-terminal-management-talks-almost-complete","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/container-terminal-management-talks-almost-complete","title":{"rendered":"Container terminal management talks almost complete"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Negotiations for the management of the Port of Walvis Bay\u2019s new N$4.2 billion container terminal seem to be nearing finality.<\/p>\n

These negotiations with Terminal Investment Limited (TIL), owned by Mediterranean Shipping Company (MSC), a global leader in container shipping, is a move expected to significantly boost port capacity and thus revenue for the Namibia Ports Authority (Namport).<\/p>\n

TIL, which handles at least 60 million container units annually and has interests in more than 60 terminals in over 30 countries on five continents, was awarded a concession in 2022 to manage Namport\u2019s new container terminal for 25 years.<\/p>\n

\u201cThe parties to the envisaged transaction, Namport and TIL remain seized with finalising the terms, conditions and all attendant schedules to the concession. We will, therefore, in due course, make the appropriate and necessary public pronouncements once the process has been completed,\u201d stated Namport CEO Andrew Kanime.<\/p>\n

He added that Namport appreciates the enquiries on the ongoing process of concessioning the new container terminal at the Port of Walvis Bay, and that the authority remains committed to transparently sharing information on the status and rationale for this strategic project.<\/p>\n

However, TIL assuming control of running the new terminal has already experienced significant delays. Some private sector freight operators, including operators handling in-transit cargo at the harbour town, feel a well-connected entity such as TIL can adequately address the port\u2019s capacity concerns.<\/p>\n

Namport initially invested billions into the new container terminal to address capacity concerns of the old container terminal, which then stood at an annual throughput of 350 000 TEU\u2019s (20-foot containers), nearing full utilisation. Now, with the new terminal, this capacity has been boosted to 750 000 TEUs.<\/p>\n

Namport management feels the previous capacity situation was untenable.<\/p>\n

\u201cSuffice to say it created serious efficiency challenges, as containers had to be dug from the nearly full terminal. This gave impetus to the need to develop the new container terminal project, whose construction then commenced in May 2013, and was subsequently commissioned in August 2019,\u201d said Kanime during a recent industry address.<\/p>\n

Meanwhile, TIL has been granted the concession to run the new terminal due to its ability to generate sustainable volumes, and to help facilitate \u201corganic growth\u201d of transhipment and domestic volumes.<\/p>\n

\u201cThe proposed concession, therefore, graciously represents a bold step by Namport and Namibia towards increasing the vessel calls through the port of Walvis Bay. While operators may initially focus on attracting transhipments to the terminal, the increased vessel calls will provide stability, certainty and capacity for growth of both local and regional cargo,\u201d said Kanime at the time.<\/p>\n

TIL Group<\/p>\n

TIL was founded in 2000 by the Aponte family to secure container terminal capacity in major ports called by majority owner and main client, MSC.<\/p>\n

\u201cSecuring increasingly restricted terminal capacity is critical to the development of MSC\u2019s core container shipping business. TIL\u2019s business model and strategy are closely related to those of our majority owner and main customer MSC, the world\u2019s largest shipping line,\u201d the TIL website reads.<\/p>\n

\u201cOur ability to leverage this commercial relationship with MSC has been a key driver of our rapid growth and success: predictable and growing level of throughput volume, long-term contractual arrangements which underpin revenue, de-risked growth, and capital investment decisions. TIL has a diverse portfolio of container terminals, strategically located at key ports on the world\u2019s major shipping routes, providing access to key mature and developing markets,\u201d it said.<\/p>\n

TIL has a significant presence at some of the world\u2019s busiest ports by container volume, including Singapore, Los Angeles, Rotterdam, Antwerp, New York and Valencia.<\/p>\n

TIL has benefitted from a continued portfolio expansion over 20 years, adding two to three container terminal businesses on average per annum since 2000, through a combination of acquisitions, stake increases and greenfield developments.<\/p>\n

Over the past 15 years, TIL\u2019s average annual throughput growth rate of more than 10% has largely exceeded the industry\u2019s average annual throughput growth rate by about 4% over the same period.<\/p>\n

Despite the unprecedented disruption caused to global supply chains by Covid-19, the global diversity of TIL\u2019s terminal operations and the stability of volumes supported through the affiliation with MSC, drove very strong 2020 results.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Negotiations for the management of the Port of Walvis Bay\u2019s new N$4.2 billion container terminal seem to be nearing finality. These negotiations with Terminal Investment Limited (TIL), owned by Mediterranean Shipping Company (MSC), a global leader in container shipping, is a move expected to significantly boost port capacity and thus revenue for […]<\/p>\n","protected":false},"author":84,"featured_media":63084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-63085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nContainer terminal management talks almost complete - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/container-terminal-management-talks-almost-complete\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Container terminal management talks almost complete\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. Negotiations for the management of the Port of Walvis Bay\u2019s new N$4.2 billion container terminal seem to be nearing finality. 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