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Kenya Shipping Report Q4 2010
Business Monitor International, Oct 2010, Pages: 90
Kenya Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kenya's shipping industry.
Kenya is making investments to build new ports, expand existing ports and upgrade accompanying infrastructure. BMI believes this is much needed given the region's potential for trade growth. The existing port of Mombasa, Kenya's chief seaport, is undergoing expansion works. Logistics company SDV Transami has constructed a dry port terminal that is set to be completed next month. It is hoped that this will help ameliorate the port's congestion problem. Tony Stenning, SDV Transami's regional managing director, stated: 'With Kenya's growing economy, there is need for the port of Mombasa to become more competitive by increasing its efficiency. The intention is to have the new terminal as a holding ground that will ease congestion there.'
This news follows recent reports that the Kenya Ports Authority has invited tenders for the extension of a number of berths at the port to enable Mombasa to handle a larger class of vessel.
Further to these plans for the port of Mombasa, there are also plans to build a new port at Lamu in the north of the country. Bids have been invited for its first phase, which will involve the construction of three berths. The works are part of a US$22bn development plan to connect Kenya to southern Sudan and Ethiopia, which will also include roads, railway, airports and a pipeline. The Kenyan ministry of transport stated: 'As the first phase of this project, the government plans to construct the first three berths with associated infrastructure at Manda Bay, Lamu.' Beliefs that the Kenyan ports sector has huge potential in the coming years, assuming the investment is there to enable it to handle the projected uptick in business.
Expect cargo handled at Kenya's key port, the Port of Mombasa (POM), to grow at a moderate rate this year. Mombasa's tonnage will increase by 7.8% to 20.55mn tonnes, following a good 2009 performance when the port was largely able to sidestep the effects of the international recession (volumes grew 16.1% to 19.06mn tonnes last year).
Container movements at the Port of Mombasa will grow 3.2% to 638,852 20-foot equivalent units (TEUs) this year. Mombasa's growth has been consistently positive since 2006 and linked to international shipping fluctuations; last year's growth in box throughput at the port was at its minimum of 0.5% y-o-y. Affected by the global recession, Kenya's total trade fell by an estimated 3.2% in real terms in 2009, and see a slow 2.2% rebound in 2010, followed by 3.8% growth in 2011. This year exports will grow more strongly than imports in real terms (2.5% vs 2.0%).
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