This week’s port operations were shaped by large seas, powerful winds, equipment failures, and shortages. Strong winds last week cost Cape Town more than 36 operating hours, while large seas and equipment failures caused most of the delays in Durban. on addition, this week’s operations on the Eastern Cape were hampered by severe winds, large swells, and a system malfunction. According to the most recent sources, new cargo-handling machinery has reportedly been sent to the Multi-purpose Terminal at Richards Bay in order to load export coal, magnetite, chromium, and pig iron onto Capesize vessels. Additionally, TFR said this week that 1,413 million tons of export goods were delivered via its North Corridor, marking its “most substantial performance” in terms of volumes transported this fiscal year.
Key Notes:
- An average of ~7 403 containers was handled per day, with ~8 201 containers projected for next week.
- Cross-border queue: ↑0,7 hrs; transit: ↓0,1 hrs; SA borders: ~9,5 hrs (↓32%); SADC borders: ~7,9 hrs (↑7%).
- Rail cargo handled out of Durban was reported at 2 297 containers, up by ↑6% from last week.
- Global freight rates have again decreased this week – by ↓2,7% (or $81) to $2 929 per 40-ft container.
- The container industry’s operating loss in Q4 of 2023 reached a combined EBIT of -$1,44 billion.
- Despite a slight decrease in global tonnages (↓2%), air cargo rates are up by ↑3% from last week.
Port operations – General:
- Port operations this week were moulded by high swells, strong winds, as well as equipment breakdowns and shortages.
- More than 36 operational hours were lost in Cape Town this week due to strong winds, while high swells and equipment breakdowns constituted the majority of delays in Durban.
- Additionally, strong winds, high swells, and a system failure disrupted operations in the Eastern Cape this week.
- At the same time, the latest reports suggest that the Multi-purpose Terminal in Richards Bay has received new cargo-handling equipment for the loading of export coal, magnetite, chrome, and pig iron aboard Capesize vessels.
- Furthermore, TFR announced this week that its North Corridor delivered 1,413 million tonnes of export cargo, representing its “most substantial performance” in terms of volumes moved this fiscal year.