SA's bulk exports rise almost 90% to record in January
By Dominic Preuss - Feb 13th, 08:37
SA’s bulk export volumes shot up 88.8% year on year in January 2018 to a record 25.4-million tonnes, data from the Transnet National Ports Authority (TNPA) showed on Monday.
The exceptional increase was in part due to a carry-over from December as the ports authority said there was a backlog from the December vessels that were not invoiced, mainly due to customers not submitting cargo dues orders timeously. However, if you add December 2017 and January 2018 together and compare that with December 2016 and January 2017, then the increase is still a large 39.9%.
Bulk exports out of Richards Bay, which is mostly coal, saw a 28.6% jump to 9-million tonnes, while bulk exports out of Saldanha, which are mostly iron ore, saw a 176.8% surge to 14.8-million tonnes.
This may in part be due to the shift in the Lunar New Year from January in 2017 to February this year, so Chinese steel producers front-loaded their February iron ore and coal imports into January as steel production curbs, that were imposed during the winter months to ease pollution, will be lifted in February.
Bulk exports out of the other ports such as Durban and Port Elizabeth rose by 45.2% in January to 1.6-million tonnes.
© BusinessLIVE MMXVIII
How Small Businesses are gearing up to survive the drought
15/02/2018 - 16:43
Nationally small businesses are now being advised to prepare for future water scarcity. With small to medium sized businesses contributing over 65% of South Africa’s employment and 50% of the country’s GDP, their survival is essential to the economy.
Cherries show export potential for the Western Cape
15/02/2018 - 09:19
Once a very small-volumed crop in the Western Cape, cherries have more than quadrupled their export market share over the last four years and continue to show excellent potential as an alternative crop.
Rain boosts kiwi harvest
12/02/2018 - 10:55
South Africa is dealing with a lot of drought-stricken regions but there is some good news. In the Natal Midlands of KwaZulu-Natal, there are farmers who say they’re having a fantastic rainy season, even if this January has been a bit on the dry side.
Water crisis threatens not only Cape, but SA economy
08/02/2018 - 10:16
Cape Town’s water crisis is likely to have far-reaching consequences, not only on the local economy but on the national GDP. The water crisis threatens further downgrades from ratings agencies, hampering much-needed investment, economists have warned.
Mall for Africa expands to 11 new markets
07/02/2018 - 14:15
Mall for Africa, an e-commerce and m-commerce platform present in Nigeria, Kenya, Ghana, and Rwanda, has expanded to 11 new countries in Africa in response to rising demand for its patented service.