Apart from this industrial action, port operations during the week were characterised, typically, by equipment breakdowns and shortages, congestion, and adverse weather conditions. Our national ports, especially Durban and the Eastern Cape, experienced numerous operational delays due to adverse weather conditions throughout the week. Moreover, the Durban helicopter was out of commission for the entire week due to planned maintenance and is on course to return to commission over the weekend. Furthermore, concerns were raised this week regarding the continuous theft of copper cable along the rail lines, severely disrupting loading operations out of Durban.
Key Notes :
- An average of ~7 629 containers was handled per day, with ~9 136 containers projected for next week.
- Rail cargo handled out of Durban amounted to 1 078 containers, ↓58% compared to last week.
- Transnet calls Force Majeure due to strike action, as delays are costing SA R100 million – R1 billion daily.
- Cross-border queue times were ↑0,9 hours, with transit times ↑1,7 hours, SA borders ~9,3 hours (↑16%).
- WTO raised its outlook for global goods trade to ↑3,5% (2022) but warned that 2023 would only be 1%.
- Container throughput dropped ↓2,1% (m/m) in July 2022, but remains at ↑3,3% (y/y).
- The “WCI” is now below the five-year average, with spot rates down by ↓8% ($325) to $3 689 per 40ft.
- Air cargo is not immune to the slowdown in global GDP and consequently declined by ↓3,0% (y/y) in July.
Port operations – General:
Apart from this industrial action, port operations during the week were characterised, as usual, by equipment breakdowns and shortages, congestion, and adverse weather conditions.
Our national ports, especially Durban and the Eastern Cape, experienced numerous operational delays due to adverse weather conditions throughout the week.
Additionally, the Durban helicopter was out of commission for the entire week due to scheduled maintenance and is on course to return to commission over the weekend.
Furthermore, concerns were raised this week regarding the continuous theft of copper cable along the rail lines, severely disrupting loading operations out of Durban.