Durban port delays cost Transnet R160m in revenue — and counting
Backlog will take more than four months to clear, with 63 vessels waiting to be processed
It will take four-and-a-half months to clear the backlog at the Durban harbour, where about 63 vessels are still anchored and waiting to be processed. Transnet Port Terminals (TPT), which manages the Durban container terminals, says it has already lost R160m since September and is likely to lose more.
The financial losses are insignificant to Transnet, which makes about R70bn in annual revenue, but the congestion at the ports is seen as a serious challenge that requires urgent attention and oversight from the government because it affects SA’s fiscal position, trade balance and economic growth...
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