Tag Archives: shipping
shipping: Latest News
Dana Sanchez, 11:20 pm
Foreigners have been invited to invest in Ethiopia’s state-owned shipping and logistics company. Will telecommunications and banks be next? Ethiopia is one of the last African countries to have a state monopoly in telecoms. The U.S. hopes to bring its technology, know-how and managerial skills to Ethiopia. The American Chamber of Commerce of Ethiopia was launched in November. “The private sector needs a level playing field that allows fair competition with state-owned enterprises,” a U.S. stakeholder said.
Dana Sanchez, 4:38 pm
Is this the perfect storm for shipping canals? Cheap oil is one way container ships are cutting down on expenses. Bypassing hefty fees through Suez and Panama is another. Bunker fuel prices have fallen low enough to make it cheaper to reroute some container services around South Africa, avoiding the canals. “If the canals want to change the economics of routing choices, Panama Canal would need to cut prices by 30%, and Suez by 50%, said SeaIntel, which tracks the activities of container ships.
Dana Sanchez, 2:55 pm
Here’s an idea of how much poor transportation connectivity coats sub-Saharan African countries. Transporting goods costs about 3% of the value of imports in developed economies and 10% in developing economies. But in Africa, it costs about 35% — especially in landlocked countries. “A new premium is being placed on being able to move goods from A to B rapidly, reliably, and cheaply,” a stakeholder said. “Being able to connect to what has been referred to as the ‘physical Internet’ is fast becoming a key determinant of a country’s competitiveness.”
Dana Sanchez, 10:56 am
The Gulf of Mexico region is an important market in the growing trade from the U.S. to West Africa. Despite the oil price slump and cutbacks in oil exploration budgets, cargo volumes have held up well on this route, according to Italy-based Grimaldi shipping line. “The favorable trading and investment environment created by the U.S. government’s Africa Growth Opportunity Act (AGOA) has resulted in a more diversified trade,” a company spokesman said.
Dana Sanchez, 11:55 am
Absence of good roads makes transport and logistics expensive in Africa. Transport costs average 14% of the value of exports compared to 8.6% in all developing countries, and can be as high as 50% in landlocked countries. Africa probably isn’t the best destination for companies looking for fast returns in logistics and transportation, but for businesses with a long view, it holds huge potential, a stakeholder said. If Africans don’t identify these opportunities and take advantage of them, foreigners will.
Dana Sanchez, 5:37 pm
Real or not, China’s slowdown caused major concern for investors around the world. Growth was the lowest since sanctions after the Tiananmen Square pro-democracy movement crackdown. African exports to China fell by almost 40%. China’s Communist Party is not elected. Their claim to rule is built on management of the economy, and it’s looking a little shaky. “The last thing the party wants to see is lots of people in the streets … questioning their authority,” NPR reports.
Dana Sanchez, 12:07 am
U.S. Customs and Border Protection agents found two live giant African snails at the Port of Oakland this month with a bunch of eggs. The first time they were found in Florida in the 1960s, they were traced to a Miami boy who smuggled three snails in after a trip to Hawaii. His grandmother let them go in her garden. It cost the government $1 million to eradicate them and it took 10 years. It didn’t work. They were rediscovered in Florida in 2011.
Staff, 5:33 pm
With oil prices worth half what they were a year-and-a-half ago, oil firms have put on hold $200 billion worth of spending on new projects. Some companies see this as an opportunity. “These licences have potential for cheap technical costs on oil production and are expected to be resilient to low oil prices, a Maersk CEO said.
Keren Mikva, 8:00 am
The largest city in Somalia is also one of the largest in Africa. Cotton is among the city’s biggest industries, and more businesses are flocking there as efforts at heightened security and incentives grow to make it a more attractive destination. In addition to its rising music scene, Mogadishu serves as a media hub.
Dana Sanchez, 12:23 pm
As international and intra-African trade grows, shipping-related emissions are increasingly polluting African ports. Impact on the environment will be significant if shipping companies, port authorities, freight companies and terminal operators continue doing business as usual. “The danger is real,” says a South African port CEO. “Increased emissions have the potential to severely impact the lives of people around port cities.”
- Real Estate