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Transnet's board has approved the finalisation of the contract to run Durban Container Terminal 2, awarded to Philippine terminal operator ICTSI. The state-owned entity completed its financial due diligence last month, confirming ICTSI's financial soundness. The partnership will improve terminal productivity and increase throughput, positively impacting Transnet, container supply chains, and South Africa's economy. ICTSI will partner with Transnet Port Terminals in a 25-year joint venture to develop and upgrade the terminal, handling 72% of Port of Durban throughput and 46% of SA traffic. The awarding of the contract is subject to several outstanding legal and regulatory matters, including approval from the minister of finance, creation of a new company, and approval from the Transnet National Ports Authority. Read more:https://lnkd.in/dCMZapzw

Transnet's board has approved the finalisation of the contract to run Durban Container Terminal 2, awarded to Philippine terminal operator ICTSI. The state-owned entity completed its financial due diligence last month, confirming ICTSI's financial soundness. The partnership will improve terminal productivity and increase throughput, positively impacting Transnet, container supply chains, and South Africa's economy. ICTSI will partner with Transnet Port Terminals in a 25-year joint venture to develop and upgrade the terminal, handling 72% of Port of Durban throughput and 46% of SA traffic. The awarding of the contract is subject to several outstanding legal and regulatory matters, including approval from the minister of finance, creation of a new company, and approval from the Transnet National Ports Authority. Read more:https://lnkd.in/dnZCEf2a

APM Terminals has completed a US$115 million upgrade at the West Africa Container Terminal (WACT) in Onne, Nigeria, significantly enhancing the terminal's infrastructure. The improvements, including expanded yard space and new cargo handling equipment, are expected to increase operational efficiency and attract more trade vessels. This development is poised to boost Nigeria's economy by facilitating higher trade volumes and strengthening the region's role as a key hub for international trade. https://buff.ly/3N4pMRG This development further strengthens Nigeria’s role as a key hub for international trade, a goal that GAC continues to champion with its local and global expertise. Learn more about GAC Nigeria at https://buff.ly/3XbV8dS #ShippingNews #IndustryNews #Nigeria #WACT

🌊 Historic Transfer: ICPC and VCT Transition! The Philippine Ports Authority has officially handed over control of ICPC and VCT terminals to ICTSI. This strategic move solidifies ICTSI's hold on crucial port infrastructure in the Philippines, promising heightened efficiency and growth. #Ports #Infrastructure #ICTSI #Philippines #Logistics 🔗 PPA hands over ICPC, VCT https://lnkd.in/gvJAzA4C

🌊 Historic Transfer: ICPC and VCT Transition! The Philippine Ports Authority has officially handed over control of ICPC and VCT terminals to ICTSI. This strategic move solidifies ICTSI's hold on crucial port infrastructure in the Philippines, promising heightened efficiency and growth. #Ports #Infrastructure #ICTSI #Philippines #Logistics 🔗 PPA hands over ICPC, VCT https://lnkd.in/ej-iBk6N

🌊 Historic Transfer: ICPC and VCT Transition! The Philippine Ports Authority has officially handed over control of ICPC and VCT terminals to ICTSI. This strategic move solidifies ICTSI's hold on crucial port infrastructure in the Philippines, promising heightened efficiency and growth. #Ports #Infrastructure #ICTSI #Philippines #Logistics 🔗 PPA hands over ICPC, VCT https://lnkd.in/gvJAzA4C

ICTSI Receives ICPC-VCT Control from PPA 🎉 The Philippine Ports Authority (PPA) formally hands over the ICPC-VCT control to International Container Terminal Services Inc. (ICTSI). This transition empowers ICTSI to enhance container terminal operations, ensuring better efficiency and seamless logistics for the region. #Management #Economy #Philippines #TerminalOperations #PortAuthority 🔗 PPA Hands Over ICPC-VCT https://lnkd.in/ej-iBk6N

ICTSI Receives ICPC-VCT Control from PPA 🎉 The Philippine Ports Authority (PPA) formally hands over the ICPC-VCT control to International Container Terminal Services Inc. (ICTSI). This transition empowers ICTSI to enhance container terminal operations, ensuring better efficiency and seamless logistics for the region. #Management #Economy #Philippines #TerminalOperations #PortAuthority 🔗 PPA Hands Over ICPC-VCT https://lnkd.in/gvJAzA4C

Maersk and DP World are aggressively expanding their port operations in Africa, seeking long-term growth opportunities as they compete for control over the continent's infrastructure. While China is grappling with its internal issues, Africa represents a market of immense potential, with a young, growing population and significant infrastructure investment needs. In the race to dominate Africa's port infrastructure, Maersk's APM Terminals and DP World are vying for a strategic foothold, recognizing the continent's potential as a growth engine for global trade. Maersk, with its vision firmly set on long-term opportunities, has actively engaged in discussions and tenders across several African countries, eyeing key locations like Durban, Tanzania, and Kenya. Their strategic investments, already established in countries like Nigeria and Liberia, underscore their belief in Africa's burgeoning market potential, especially with its rapidly growing population expected to reach 2.5 billion by 2050. On the other hand, China, previously aggressive in its global Belt and Road Initiative, seems to be turning inward to tackle severe domestic challenges, leaving a void filled by these maritime giants. The stakes are high, with the African Development Bank estimating an annual investment need of $130-170 billion to bridge the continent's infrastructure gap. For Maersk, the focus is not just on acquiring port concessions but ensuring an interconnected ecosystem with roads, railways, and production facilities—a holistic approach to drive economic growth. This strategic positioning requires more than just financial commitment; it demands building robust relationships with local governments and communities. As this narrative unfolds, what are your thoughts on the future of Africa's port infrastructure? Could these developments be the catalyst for the continent's next economic leap? Share your insights and engage in the conversation on Africa's pivotal role in global trade dynamics. #AfricaGrowth #PortInfrastructure #Maersk #DPWorld #GlobalTrade #InfrastructureInvestment #EconomicDevelopment Share your thoughts on Africa's port infrastructure below!