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Namport hits N$776m revenue – The Namibian

THE Namibia Ports Authority (Namport) has upped its revenue by 20% in the first seven months of the financial year starting 1 April 2022 to 31 October 2022, from N$666 million to N$776 million.

This is in comparison to the same period in 2021.

Namport chief executive officer Andrew Kanime made this announcement on Friday morning during a port users’ engagement meeting at Walvis Bay.

He said the company’s operation expenditure has also increased in line with the increase in business activities.

Expenditure to date amounts to N$594 million, in comparison to N$542 million in 2021.

The increase in expenditure is attributed to fuel increases, as well as repair and maintenance expenses due to the ageing fleet.

Another factor is overtime.

“As a result of the increase in revenue which surpluses the increase in cost, we are humble to report 63% increase in operating profit. From N$123 million in the seven months ended on 31 October 2021, to N$222 for the period ended 31 October 2022,” he said.

While reflecting on the year, Kanime observed that business activities continue to decrease as a result of the after-effects of the Covid-19 pandemic and Russia-Ukraine conflict.

He said these activities pose a threat to the port’s sustainability.

“A significant risk to the business going forward is rising levels of inflation, and this is more pronounced in the United States of America and Europe, where in response to the growing need to rein in the run-away inflation, authorities are tightening fiscus spending and general financial conditions. In the case of China, this has been aggravated by its zero-tolerance policy for Covid-19, which has seen it continue with rolling lockdowns,” said Kanime.

He used the event to reassure port users that the concession of the new container terminal will not compromise state security.

According to Kanime, the concession will increase operational efficiencies of the terminal and improve schedules and reliability of vessel services.

Namport has selected Terminal Investment Limited (TIL) to manage and operate the new container terminal.

“Namport will continue to exercise complete control over, and responsibility for all security arrangements at the port, complemented by the Namibian Police, whom we host in the port, and the Namibian Navy, whose base is also next to the port of Walvis Bay. The customs procedures, scanners and inspections will also continue to be done by Namra, as is presently the case,” said Kanime.

The port users’ breakfast is a platform where Namport awards its top clients. The awards honour outstanding individuals who have made significant contributions to the advancement of the maritime industry at Walvis Bay.

Trade Ocean Shipping Namibia (Pty) Ltd marketing director Michelle Kirov was awarded the industry recognition award for 2022.

The award winners represent the most influential minds in the field of transport and logistics.

Other recipients include Logistics Support Services (Pty) Ltd, Maersk Namibia (Pty) Ltd, Sturrock Grindrod Maritime (Pty) Ltd, Trade Ocean Shipping (Pty) Ltd and Woker Freight Services (Pty) Ltd, as the top five revenue based clients.

The top five volume based clients are Walvis Bay Salt Refiners (Pty) Ltd, Puma Energy (Pty) Ltd, Sturrock Grindrod Maritime (Pty) Ltd, Walvis Bay Bulk Terminal (Pty) Ltd, and Logistics Support Services (Pty) Ltd.

XYZ investment CC, Zephyr Investments CC and Cross Border Vehicle Traders CC are the top three SME clients.

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