WINDHOEK, Oct. 17 — The Namibian Ports Authority (Namport) said it would start negotiating the concession agreement with Terminal Investment Limited (TIL), a subsidiary of the Mediterranean Shipping Company (MSC), for managing the new container terminal at the Port of Walvis Bay.
Namport, the national port authority of Namibia with its headquarters in Walvis Bay, has been looking for a manager since 2019 when it commissioned the container terminal at a cost of 4.2 billion Namibian dollars (about 229 million U.S. dollars.
The TIL won the bid to manage Namport’s new container terminal for 25 years from 2023, with Maritime Business and Transport Solutions (MBTS), an international consultancy firm, being appointed as a transactional advisor in the concession exercise.
According to the draft concession, TIL will pay an up-front take-on fee on the signing of the concession agreement and commit to specific increased volumes.
Namport chief executive officer Andrew Kanime said in previous media statements that there is a provision for penalties chargeable in cases where the volume commitments are not met.
Kanime said the negotiations between Namport and TIL on the Concession Agreement would focus on detailed operational matters, including but not limited to the exact terms and conditions of the personnel to be taken over by the operator. Kanime also said the negotiation and handover process is expected to be completed by the first quarter of 2023.
The new container terminal has a capacity of at least 750,000 TEUs per annum. It provides increased container handling capacity in the Port of Walvis Bay. It increases the port’s bulk and break-bulk handling capacity by freeing up the existing container terminal to utilize as a multi-purpose terminal. The new container terminal has added 600 meters of quay wall length to the existing 1,800 meters, enabling major rehabilitation of existing quay walls with minimal disruption to operations.
The TIL, founded in 2000, has interests in more than 60 terminals, handles at least 60 million TEUs per annum and operates in 31 countries across five continents. (Xinhua)
Namibia’s port authority to start talks with MSC subsidiary over new container terminal management
