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Sea Coastal Water Transport industry Ghana

Sea and Coastal Water Transport Industry in Ghana 2020

Carole Veitch | Ghana | 16 December 2020

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Report Coverage

This report focuses on the transport of cargo and passengers by sea and inland on Lake Volta. It includes comprehensive information on the country and its ports and water transport infrastructure, the state and size of the sector, trade statistics, regulations, developments and influencing factors including the economic environment and coronavirus. There are profiles of 21 companies including Meridian Port Services, which operates Tema port, Maersk Ghana, a major player in the liner and break-bulk segments, and Supermaritime Ghana, which has a major share of the dry bulk segment.

Introduction

As a gateway to the Gulf of Guinea and an important sub-regional transit trade corridor, Ghana is a maritime trading hub of strategic importance. Situated closer to the globe’s geographic centre of zero degrees latitude-zero degrees longitude than any other city in the world, the Ghanaian Port of Tema boasts the largest container terminal in West Africa. Ghana’s commercial ports collectively receive more than 3,000 vessel calls annually and handle around 85% of the country’s total trade volumes. This report focuses on deep-sea intercontinental transportation of cargo and passengers. In addition, it covers coastwise seaborne transportation and inland waterborne transport on Lake Volta, the largest artificial lake in the world. Although Ghana has reported fewer coronavirus cases than many other countries, the oil-producing nation’s economic growth outlook for 2020, an election year, has been slashed.

Strengths

• Ghana acts as a gateway to West Africa and is a maritime trading hub of strategic importance.
• Tema is well positioned to act as a hub for transhipment.
• The country’s transit trade corridor, incorporating Lake Volta, serves land-locked West African countries.
• The Ghanaian government has invested in infrastructural development, capacity expansion and port modernisation projects.
• The Port of Takoradi is well positioned to provide services and supplies to the offshore oil and gas sector.
• The Port of Tema has the largest container terminal in West Africa.

Weaknesses

• Although there have been significant improvements, operational costs and port tariffs are high.
• Cargo handling and customs clearing delays can lead to port congestion and bottlenecks in the freight transport system.
• The high cost of marine fuel and bunkering services.
• There is a shortage qualified professionals with technical and managerial skills.

Opportunities

• Construction of the Boankra Integrated Logistics Terminal and associated infrastructure commenced in November 2020 and offers opportunities to expand Ghana’s transit trade with landlocked Burkina Faso, Mali and Niger.
• The development of Takoradi Port as an offshore oil and gas supply hub.
• The opening of the new Meridian Port Services container terminal in June 2019, allows for the handling of up to 3.5 million TEUs of containerised traffic.
• With the African Continental Free Trade Area Secretariat based in its capital, Ghana is planning to spearhead the drive to promote intra-African trade.

Threats

• A resurgence of separatist activity could destabilise eastern Ghana’s Volta region.
• Domestic and global recessionary pressures.
• Further disruption to maritime trade and passenger travel resulting from the coronavirus pandemic.
• Further weakening of the Ghanaian currency.
• Sustained weakness of oil and gas prices.
• The escalation of geopolitical tensions and the dissolution of trade agreements.
• The escalation of piracy, crew hijacking and other maritime security risks.
• The high cost of compliance with environmental regulations.

Outlook

2020 has been a year of profound upheaval and unprecedented disruption for the sea, coastal and inland water transport industry. Despite substantial challenges, particularly during the early months of the coronavirus pandemic, the shipping industry has continued to deliver vital supplies. The virus has affected the industry’s workforce and many seafarers have lost their lives, while others have been stranded at sea for several months during the pandemic, without the prospect of shore leave or the opportunity to travel home to their families. As president Akufo-Addo prepares to start his second term in office, commentators say that the government’s pandemic response, separatist activity in eastern Ghana's Volta region and economic recovery are likely to dominate his agenda. With Ghana’s economic growth rate for 2020 plunging to depths last recorded 30 years ago, analysts say that 2021 is likely to be another year of austerity as the country’s leadership grapples with ballooning debt. However, some role players say that with the establishment of the African Continental Free Trade Area Secretariat in Accra and free intra-African trade set to begin in January 2021, the tide could be turning, particularly for companies providing coastwise and inland waterborne transportation services.

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Sea and Coastal Water Transport Industry in Ghana
Sea and Coastal Water Transport Industry in Ghana 2020

Full Report

R 1 900.00(ZAR) estimated $104.58 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 73.21 (USD)*

Table of Contents

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PAGE
1. INTRODUCTION 1
2. COUNTRY PROFILE 1
2.1. Geographic Position 2
3. DESCRIPTION OF THE INDUSTRY 5
3.1. Industry Value Chain 7
4. SIZE OF THE INDUSTRY 8
5. STATE OF THE INDUSTRY 10
5.1. Local 10
5.1.1. Trade 12
5.1.2. Corporate Actions 15
5.1.3. Regulations 16
5.2. Continental 18
5.3. International 20
6. INFLUENCING FACTORS 27
6.1. Coronavirus 27
6.2. Economic Environment 28
6.3. Rising Input Costs 29
6.4. Technology, Research and Development (R&D) and Innovation 29
6.5. Government Interventions 31
6.6. Environmental Concerns 31
6.7. Labour 33
6.8. Off-shore Oil and Gas 34
6.9. Piracy 34
7. COMPETITION 35
7.1. Barriers to Entry 36
8. SWOT ANALYSIS 36
9. OUTLOOK 37
10. INDUSTRY ASSOCIATIONS 38
11. REFERENCES 38
11.1. Publications 38
11.2. Websites 39
APPENDIX 1 40
Ghana’s Seaborne Trade - 2019: Shipping Lines and Charterers (volumes in tons) 40
APPENDIX 2 45
Ghana’s Containerised Cargo Trade - 2019: Shipping Lines and Charterers (Volumes in TEUs) 45
APPENDIX 3 46
Summary of Notable Players 46
COMPANY PROFILES 48
BLUCHIP LOGISTICS LTD 48
BOLLORE TRANSPORT & LOGISTICS GHANA LTD 50
BULK OIL STORAGE & TRANSPORTATION COMPANY LTD 52
CMA CGM GHANA LTD 54
GMT SHIPPING GHANA LTD 56
HULL BLYTH GHANA LTD 57
INTER MARITIME SERVICES LTD 59
INTERMODAL SHIPPING AGENCIES GHANA LTD 61
LOGICAL MARITIME SERVICES LTD 62
MAERSK GHANA LTD 64
MERIDIAN PORT SERVICES LTD 66
MSC MEDITERRANEAN SHIPPING COMPANY GHANA LTD 69
OMAROIL AGENCY LTD 71
PIL (GHANA) LTD 73
R&G LOGISTICS LTD 75
RACHANS LOGISTICS LTD 77
RICH FREIGHT SERVICES LTD 79
SHARAF SHIPPING AGENCY LTD 81
SPEL OIL COMPANY LTD 83
SUPERMARITIME (GHANA) LTD 84
VOLTA LAKE TRANSPORT COMPANY LTD 86