Five major port development projects in West Africa are on the drawing board and four of these plan on becoming the transshipment hub of the region. However, if all projects were to be built as planned it would result in an overcapacity in the region according to Seaintel.
“It seems clear that if all the port projects go ahead as envisioned, West Africa will get a significant terminal overcapacity, This would be to the significant detriment of the investors in these projects, however could prove a significant advantage to carriers, who would get rid of congestion issues, and shippers who will get access to better – and likely cheaper – transportation”, the market analyst company Seaintel writes in its latest issue of its weekly publication, Sunday Spotlight.
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