The Namibian Ports Authority (Namport) has recorded a 20% revenue increase to N$796 million for the seven months to 31 October 2022, CEO Andrew Kanime has revealed.
The national ports operator’s operating profit for the period surged by 63% to N$202 million.
“Our revenue continues to grow, and please I must highlight that here I am talking of organic growth and not tariff adjustment driven growth. We have over the past year welcomed vast new business from both new customers and old customers. We have started handling new commodities from new markets which we did not handle before,” Kanime said.
“Revenue for the seven months to 31st of October 2022 is up 20% from N$666 million to N$796 million. As a result of the increase of revenue, which surpasses the increase in costs, we are humbled to report a 63% increase in operating profit from N$123 million in the 7-month period ended 31st of October 2021 to N$202 million for the period ended 31st of October 2022.”
Namport’s operating expenditure for the period increased by 10% to N$594 million.
“Operating expenditure has also increased in line with increased business activity but at a lower rate. Expenditure for the period to date amounts to N$594 million in comparison to previous year’s expenditure (for the period from 1 April 2021 to 31 October 2021) of N$542 million, representing an increase of 10%,” the Namport CEO said.
“Hence we have been very strong in our exercise of austerity so that we don’t unnecessarily overburden customers with our operational costs. So effective has been the cost containment drive that we have managed to in most cases cushion the customers against some steep increases in our inputs such as fuel and the unfavorable exchange rate for the imported equipment and spares.”
This comes as Namport has activated plans to acquire additional port handling equipment after having in March taken delivery of equipment worth N$17 million, aimed at contributing towards effective and efficient service delivery.
“We have been recapitalising our fleet of cargo handling equipment and have already received two reach stackers and four forklifts in January 2022. For this financial year, we have activated the procurement of seven 4-ton additional forklifts which will be delivered by 01 April 2023. For the new financial year starting 01 April 2024, we have budgeted to acquire an additional 7-ton, 16-ton and 32-ton forklifts.
“We are refurbishing the fleet of RTGs and have awarded a tender for the supply of two new wharf cranes which will be delivered in the second half of the 2023. We plan to acquire a total of six wharf cranes over the next two years so that we alleviate the current challenges at the bulk terminal,” Kanime said.
He said the company was in talks with the German enterprise software giant, SAP, regarding automating its operations billing.
“We recently commissioned an operating system for the general cargo terminal and our ultimate goal is to now automate the billing of our operations. We are presently in discussions with SAP in this regard,” Kanime said.
He further said the phase implementation of the National Single Window, will see the initial phase bidding being rolled out early next year.
“The roll out of the National Single Window continues with implementation earmarked to be carried out in phases and the bidding for the initial phase, being maritime single window and the cross-border window will commence in the first quarter of 2023,” he said.
Among other initiatives to boost cargo volumes through the port, Kanime said the ports company had made available land for the setup of common user liquid and dry bulk facilities and signed an MoU with Angola’s Sonangol and the National Petroleum Corporation of Namibia to explore the possibilities of jointly collaborating and positioning Namport to accommodate and serve the upstream oil sector in Namibia.
“Amongst many other initiatives we have also [made] available land for the setup of common user liquid and dry bulk facilities at both our ports. These are at different stages of implementation and upon completion, will greatly increase the throughput capacity of cargo through both ports,” he said.
Namport’s container volumes increased by 8%, 12,298 Twenty Foot Equivalent Unit’s on a year-on-year basis, while bulk and breakbulk volumes increased by 9%.
“This increase was mainly attributable to the increased import and export containers of 15% and 3% respectively. Bulk and breakbulk volumes increased by 360,189 tonnes or 9%, year-on-year on the back of increased exports of various mining commodities,” the Namport CEO said.
