Maritime trade increase to 11.8m tonnes

Maclean Kwofi Business News Aug - 28 - 2018 , 12:53

The Volume of goods passing through the country’s two seaports increased by 14. 3 per cent to 11.8 million tonnes in the first half of 2018.

This is as a result of the relative improvements in some major macroeconomic indicators of the country.

The rise in cargo throughput from 10.3 million tonnes in the first half of 2017 to 11.8 million as recorded in the same half of 2018 is the third consecutive rise after the 2016 general election.

Data from the Ghana Shippers’ Authority (GSA) shows that the development was influenced by corresponding increment in exports, imports and transits.

Total import and export trade volume in the first half of 2018 increased by 14.4 per cent to 11.2 million tonnes compared to same period last year. Total transit/transshipment trade volume in the first half of 2018 increased by 11.49 per cent to 571,054 over the first half of last year.

The Chief Executive Officer (CEO) of the authority, Ms Benonita Bismarck, at the Shipping Quarter and Outlook on Friday, August 24 in Accra, explained that the rise was due to improved confidence posed in the country’s economy.

Ghana’s maritime trade outlook for 2018 is positive. After an impressive performance in 2017, the first half of 2018 has witnessed another increase in maritime trade performance.

In line with expected growth world economic output, and in the wake of the first half performance, Ghana’s cargo throughput for 2018 is bound to post a good growth of not less than 10 per cent.

Cargo throughput for the seaports of Ghana (Tema and Takoradi) for the first half of 2018 was 11.75 million. Cargo throughput for the Tema Port was 8.1 million tonnes representing 69 per cent of the total, while the Port of Takoradi recorded 3.65 million tonnes representing 31 per cent of the total seaborne trade.

Total imports

Total imports for the review period was 7.16 million tonnes. This comprised 2.93 million tonnes of liner cargo, 863,751 tonnes of break bulk, 1.7 million tonnes of dry bulk cargo and 1.7 million of liquid bulk imports.

Imports for the period under review increased by 5.9 per cent over first half of last year. For the trade types, there were recorded increases in liner imports and break-bulk imports of 15.6 per cent and 17.9 per cent respectively.

There were, however recorded decreases of 1.2 per cent and 5.9 per cent in dry bulk and liquid bulk imports.

The total export trade volume for the first half of 2018 was 4.03 million tonnes. This represents 33.5 per cent increase of the same period. This was made up of 1.2 million of liner items, 148,972 tonnes of break bulk items, 2.6 million tonnes of dry bulk and 144,023 tonnes of liquid bulk. – GB