West African ports are vital to the region’s ambitions to emerge as a global energy hub. In this strategic pursuit, international heavyweights such as China and the UAE have stepped forward as key investors.
AD Ports Group has acquired five bulk carriers and three crude oil tankers valued at Dhs955m (USD 260m) to expand its commercial shipping capabilities.
DP World will develop the terminal at Somaliland’s most important commercial port and will expand as demand grows.
Lekki Deep Sea Port, the largest sea port in Nigeria, has completed construction. Lekki Free Port Terminal will take over in readiness for operations to commence.
Transnet: The force majeure declared in the automotive, bulk and multi-purpose terminals at its South African port operations has been withdrawn with immediate effect.
BLSA and BUSA: Strikes by state-owned Transnet rail is resulting in the falling capacity of the logistics industry and harming supply chains.
DP World, Dubai’s major operator of ports and terminals, announced revenue growth of 60.4% in H1 2022, recording revenues of USD 7.93 billion.
Dubai has ranked fifth among leading global ports in the ISCD Index thanks to investment in infrastructure and business diversification.