28
Jul
11

Nigerian Ports Pumping with Productivity

When speaking of increased container traffic and new port development, does Nigeria ring a bell? It should. We posted a nice spiel about Nigeria last month and the impact the development is having on industry, tech, and standards of living. To get an idea of what they have been up to and how they have handled the increase in business, keep reading.

The Farin Ruwa Falls in Nasarawa State NigeriaBusiness is Flowing

Last month we posted that the Nigerian port of Lagos was lining up ship after ship to its port, recording record docking numbers.  If anyone was worried about the increased traffic and how the port might handle it, no one on their end seemed to be stressing about it. Maybe that has something to do with the US$190 million in expansion and improvements that APM Terminals has invested into the facility, since assuming control in 2006.

And they’re not stopping their either. APM plans for another USD$80 million to be spent  to further modernize and upgrade the terminal that will lead to a projected expansion of operating capacity by another 50% as soon as the end of next year (2012).

While the terminal is no monster by comparison to those of other countries, it is the largest o the west coast of Africa. The current number of containers running through the port is over a three-quarters of a million each year, with the added investment bringing that total to well over a million by the end of next year.

Activity Everywhere

New cranes, dredging of the port and increased economic activity in the country are driving the import and export of goods through the roof.

“2010 to 2020 is bringing massive development to the African continent. As China continues to boom we will see the Chinese offer more large-scale infrastructure development to African governments in return for natural resources and farmland to support it’s vast population. In turn African countries are continuing to challenge old perceptions of corruption and violence through practicing better governance. Chart leader Ghana is one of Africa’s strongest democracies. African countries will continue to veer in favor of increased prosperity. The picture continues to be replacement of Western aid for Africa by Eastern trade with Africa.” Economy Watch

More than one helping hand

The Chinese have their hands in a little bit or a lot, actually, of everything. Good trade relations are needed with numerous countries as the Asian monster fuels it’s belly with energy for the massive growth its billion person population is causing. But, they’re not the only ones’.

The APM container terminal has introduced a new container scanning procedure in partnership with the Nigerian Customs Service (NCS) and Swiss run, inspection service provider Cotecna Destination Inspection Ltd. (CDIL) at Apapa Container Terminal, which increased scanning throughput by 62 percent in the program’s first week of operation, thus speeding container deliveries to customers.

The terminals now averages 126 containers scanned per day and congestion in the scanning area has been eliminated, which had previously resulted in delays of up to four days incurring hundreds of dollars in additional trucking fees.

APM Terminals Apapa process manager William Ross wants 200 containers daily to complete the scanning procedure. Mr Ross said,“This will help reduce the congestion that is associated with current clearance and scanning processes, improve productivity at our terminal and by reducing the cost burden on importers help boost trade.”

A well oiled machine

The ball is in the hands of the booming country and they are holding on strong to possession. There doesn’t seem to be anything that will get in their way. They have aligned themselves and partnered with the best in industry and trade. My father once told me, “If you want to be successful, you need to surround yourself with successful people.” Nigeria seems to have this formula secured.

At Pacific Tycoon, our offices in Asia, put us in the direct line of shipping that goes to countries like Nigeria, and other developing nations that require the space you rent them via container ownership. Don’t hesitate to give contact us. We’re here to help put your money to work and pay you very well.

Image: OnTheGlobe

Sources: EconomyWatch, CargoNewsAsia, APM Terminals, NigerianPortsAuthority

 

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Gain unearned income. Own shipping containers and lease them to us. We contract with companies who need to ship materials.

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