NAMPORT’S revenue has declined 2% to N$1.113 billion (2019/20: N$1.138) against a target of N$1.032 billion, with an operating profit of N$96 million (2019/20: N$132 million),” the Authority’s latest annual report reflects
Subsequently, the Group’s revenue, which includes Namport and its subsidiaries, was down 12% to N$1.485 billion (2019/20: N$1.688 billion) with an operating profit of N$146 million (2019/20: N$203 million).
“General cargo and overall container volumes reflected modest increases of 11% and 5%, respectively. The increase in cargo volumes was mainly attributable to the continued flow of goods, especially to and from the hinterland and a substantial increase in the volumes of transhipments. As a result, the total cargo handled through Namibia’s ports was 6,214,658 tonnes (2019/20: 5,561,999 tonnes).
“Despite the challenges posed by the pandemic year, TEU volumes handled were up 5% to 155,980. However, shipped and landed volumes were down 8% and 14% respectively, while transhipment volumes were up 169%. This increase in transhipments was primarily due to South African port lockdowns with volumes being diverted to Namibia,” the report reads.
Total bulk and break-bulk volumes increased by 14% to 1,091,852 tonnes, boosted by the 213% growth in manganese ore exports shipped through the Port of Lüderitz.
Cross-border volumes grew by 39% to 1,464,100 tonnes (2019/20: 1,055,383 tonnes) representing 24% of total cargo volumes handled. The total corridor volumes comprised of 528,030 tonnes destined for the hinterland and 936,071 tonnes originating from the hinterland.
Vessel calls to Namport’s ports declined by 25% to 1,303 due to COVID -19 restrictions imposed on movements.
“The immediate focus for the future is on harnessing new volumes through our ports and docks, from within the country, the region and beyond, so that we can maximize utilization of our facilities, enhance return on investments and equally importantly, ensure business sustainability into the future. Efficiency of operations and cost streamlining remain key priorities especially given the drive to attract more volumes from shipping lines, importers and exporters, who are all increasingly demanding for competitive pricing and fast turnaround times for vessels in ports and repair docks,” Andrew Kanime, the Chief Executive Officer of the Authority said further stating that having joined the Group on the 1st of November 2020 and in the midst of the ravaging pandemic where a lot of established businesses could not withstand the strain imposed by the scourge of COVID – 19.
“I am extremely encouraged by the great prospects which abound in the logistics, maritime and ship repairs sectors within which the Group operates. Despite the ongoing turbulence across all economic sectors and all over the globe, the country and the region, the Group’s financial and operational performance has largely continued to show resilience during the year ended the 31st of March 2021. Notably, general cargo and overall container volumes reflected healthy increases of twelve per cent (12%) and five per cent (5%) respectively.
“Hence, while the Group recorded a modest operating profit of N$145 million, down from N$202 million in the preceding financial year, this was eroded by the finance charges mainly attributable to the Africa Development Bank loan which were previously capitalized during the construction phase of the new container terminal, resulting in an after-tax loss of N$72 million in comparison to a profit after tax of N$61 million for the year ended 31st of March 2020,” further stated Kanime.