Week: Week 49-2023
Port Elizabeth Bulk Terminal Opens After a Successful Maintenance Shutdown
The Port Elizabeth Bulk Terminal has reopened following a successful ten-day annual maintenance shutdown aimed at ensuring efficient manganese handling for the next year. The shutdown involved servicing critical bulk handling equipment, crucial for the terminal's capacity to handle six million tons of manganese annually, supporting the economic growth of the Eastern Cape and meeting global demand. South Africa, holding over 70% of the world's highest-grade manganese, relies on this terminal as a key export hub.
Minister Mbarawa is Satisfied With the Trials of the SGR Train Head
Tanzania's Transport Minister's praise for the successful test runs of the SGR electric locomotive at Pugu Station. With trials showing promising results at speeds of 160 km/h, the SGR is set to revolutionize travel from Dar es Salaam to Morogoro and beyond, promising reduced travel times and enhanced transport services for passengers and freight.
Acquisition of Operations in Liberia
High Power Exploration Inc. (HPX) sets a new benchmark in the mining industry with the acquisition of promising iron ore licenses in Liberia, adjacent to the Yekepa-Buchanan rail line, and ATL's multi-user port facilities at the Freeport of Monrovia. This strategic move aligns with HPX's development of the Nimba Lola Iron Ore Project and its commitment to enhancing the regional mining infrastructure.
COP28: Africa could lose $25 billion per year as new EU carbon tax comes into effect, warns African Development Bank’s Adesina
Dr Akinwumi Adesina, President of the African Development Bank Group, cautions that the new EU carbon border tax could cost Africa $25 billion annually, impeding trade and industrialization efforts. Amidst global energy transitions and EU policy shifts, Africa faces challenges in maintaining value-added exports and needs to navigate towards sustainable energy solutions without compromising economic growth.
African Development Bank Approves $696.41 Million of Financing for Burundi and Tanzania to Build 650 Kilometers of Rail Infrastructure to Develop the Central Corridor Network
The African Development Bank approves a $696.41 million financing package for Burundi and Tanzania to construct 650 kilometres of rail infrastructure as part of the Central Corridor Network. This electrified standard gauge railway aims to enhance regional trade, support large-scale mining and commercial agriculture and connect to the port of Dar es Salaam, fostering economic growth and integration in East Africa.
Grindrod Breaking Records
Grindrod Limited, a JSE-listed freight and logistics company, celebrates record-breaking handling volumes at its terminals. In November 2023, Grindrod achieved historical milestones in its Maputo and Matola dry-bulk terminals and the multipurpose terminal in Durban, reflecting its commitment to operational excellence and its capacity to adapt to global market demands, especially in commodities like coal and lithium.
Transnet Update on Container Corridor Operating Lease Process
Transnet SOC Ltd. is realigning its rail freight ecosystem with the Government's evolving transport policy, aiming to liberalise the rail sector and enhance efficiency. The process involves the appointment of an Interim Infrastructure Manager and the formation of a Transnet Rail Infrastructure Manager (TRIM) by 2024. This strategic shift necessitates a review of the Container Corridor Operating Lease and the withdrawal of the recent RFQ, reflecting Transnet's commitment to fostering private sector partnerships in line with national policy.
Developing Countries Paid Record $443.5 Billion on Public Debt in 2022
In 2022, developing countries paid a record $443.5 billion in public debt servicing amidst surging global interest rates, reports the World Bank. This financial pressure diverted resources from crucial areas like health and education. With increasing debt vulnerabilities and limited new financing options, there's an urgent need for coordinated action and transparent debt management to prevent a potential economic crisis.
TRC Board of Directors Inspected the Old Railway Dar – Kaliua
In December 2023, the Tanzania Railways Corporation (TRC) Board of Directors inspected the metre gauge railway line from Dar es Salaam to Kaliua, emphasising its significance in connecting with neighbouring countries for freight transport. Plans for refurbishing the line, including safety enhancements and infrastructure improvements, were highlighted. The inspection is part of TRC's commitment to maintaining efficient railway services in Tanzania, despite environmental challenges.
Transnet Port Terminals’ Agreement With Oems to Boost Equipment Availability at Ports
Transnet Port Terminals (TPT) has entered into a seven-year agreement with four Original Equipment Manufacturers (OEMs) to enhance equipment availability, particularly at the Durban Container Terminal Pier 2. This initiative is set to improve straddle carrier availability by 30% in the next two weeks, thereby boosting container offloading efficiency. The deal with OEMs Kalmar, Liebherr, Kone Cranes, and ZPMC involves the supply of critical spares for handling equipment, aiming to streamline operations across TPT's extensive terminal network.