The Namibian Ports Authority (Namport) has previously advised that it has taken the decision to concession the container handling operations at the New Container Terminal at the Port of Walvis Bay. This strategic decision was premised on the need to attract private capital to invest in, amongst others, the widening and deepening of the channel at the Port of Walvis Bay, the acquisition of new equipment and systems, the need to drive competitiveness through improved efficiencies, harnessing more cargo volumes to maximise utilization of the terminal and to preserve and grow levels of employment.
Following a market bidding exercise, Terminal Investment Limited (TiL), which is headquartered in Switzerland, was selected as the preferred bidder. Subsequent thereto, the parties have been engaged in contract negotiations for the concession.
Namport and TiL are now pleased to announce the handover of the container handling operations at the New Container Terminal at the Port of Walvis Bay to TiL (through its newly incorporated Namibia subsidiary, Terminal Investment Namibia - TiN) and this marks the commencement of the concession effective 1 October 2024.
Commissioned in November 2019 by the late President Dr Hage Geingob, the terminal boasts an impressive annual throughput capacity of 750,000 Twenty-Foot Equivalent Units (TEUs). The agreement between Namport and TiN is expected to play a crucial role in bolstering Namibia's position as a key logistics hub in Southern Africa, though, inter alia, increased shipping connectivity, heightened vessel traffic, enlarged containers handling capacity and enhanced operational efficiencies.
In terms of the concession agreement, TiN will operate and manage the terminal for 25 years, a move aimed at significantly enhancing operational efficiencies while increasing revenue and cargo throughput. The collaboration between Namport and TiN is expected to advance service delivery and create and preserve numerous employment opportunities for Namibians.
Namport is excited about this partnership and this watershed development underscores its commitment to improving port operations, addressing the growing demands of the Namibian and the regional markets. It will without doubt entrench Namibia and Namport's competitiveness amongst other coastal states and developing ports in the region and significantly contribute towards the attainment of Namibia's vision to be the logistics hub for the region.
The award of the New Container Terminal concession to TiN represents a strategically important addition to its vast global network of terminals and the integration of the New Container Terminal at the Port of Walvis Bay into its portfolio aligns with its objective to strengthen the logistics network in Southern Africa and beyond. Notably, TiL is a subsidiary of the renowned global shipping company, Mediterranean Shipping Company (MSC). Hence, leveraging off both MSC and TiL's expertise, TiN aims to introduce advanced operational standards and innovative practices to Namport and Namibia.
The handover signifies the commencement of substantial operational improvements at the New Container Terminal. It includes immediate dredging activities aimed at widening and deepening the entrance channel to -16 metres Chart Datum (CD) to accommodate larger vessels.
TiN is dedicated to expanding the terminal facilities to ensure long-term growth and adaptability, prioritising increased storage capacities and improved cargo handling processes. This handover not only celebrates the commencement of TiN operations but also sets the stage for future port developments that will benefit both the local and international shipping communities.
Namport and TiN will in future hold a formal ceremony where the broader details of, and benefits deriving from, the concession will be shared.
For further information or media inquiries, please contact Elias Mwenyo, Executive Commercial Services, at +264 811248241 or via email at elias@namport.com.na.