Southern Africa

Transnet South Africa reports lower full-year losses

Transnet, the state-owned South African logistics group, reported on Friday a loss of 1.9 billion Rand ($108.18million) for the financial year ending March. This is down from the loss of 7.3 billion Rand in the prior year. Due to equipment shortages, and maintenance backlogs, the debt-ridden company has struggled for years to provide adequate rail freight and port services. Transnet's persistent underperformance has led to the stifling of exports for key commodities like coal and iron ore. Mineral exporters have lost billions in revenue. Kumba Iron Ore as well as thermal coal exporter Thungela Resources were forced to reduce production.
Passenger Ground & Sea Transportation

Coach Ouaddou, from South Africa, injured in car accident
A consortium led by Public Storage abandons its $1.4 billion pursuit of Abacus Storage in Australia

Abacus Storage, based in Australia, announced on Tuesday that the consortium led by Nathan Kirsh (a South African billionaire) and Public Storage of the United States had withdrawn their A$2,17 billion ($1.41billion) bid for its firm. Abacus' independent board committee received notification overnight that the consortium withdrawn its offer. The firm didn't give any explanation for the consortium's decision to withdraw. The consortium offered Abacus shareholders A$1.47 for each stapled security, and all shares that were not held by Ki Corp or its subsidiaries. Abacus rejected the offer in May citing concerns about timing, valuation and deal completion. The consortium
Transport Infrastructure

Trafigura and its consortium aim to complete the US loan agreement by 2025
Namibian Port Authority cancels Luderitz Energy Support Project

Namibian Ports Authority's (Namport) Facebook page revealed on Friday that it had cancelled the pre-qualification bid for a new base of oil and gas supplies at Luderitz, just days after its launch and without any explanation. The cancellation of the contract is a major blow to the government's efforts to speed up the development of the Luderitz Port, one the two commercial ports that are located in Southern Africa and is an important centre for energy services. Namibia is a hotspot for exploration following the discoveries of Shell, TotalEnergies and Rhino Resources offshore. The country aims to produce its first
Transportation

Hapag-Lloyd reduces its 2025 earnings projection after half-year profits slip

Hapag-Lloyd, the container shipping company, reported on Thursday a decline of 3.1% in its first-half earnings and reduced the upper end of their full-year forecast. This was mainly due to geopolitical concerns and U.S. Trade Policy. The fifth-largest shipper in the world projected earnings for full-year before interest and tax between 200 million and 1.1 billion euro, as opposed to a range previously expected of breakeven up to 1.5 billion euro. The German company stated that frequent changes in U.S. Tariff Policies have led to volatility in trade patterns. In addition, the security situation at the Red Sea is also
South African tax authorities provide jet fuel to airports

Freight Logistics

South Africa will issue a request for proposals in August for private sector rail investment

The Transport Minister stated on Sunday that the South African government and Transnet, a state-owned logistics company, are exploring new ways to encourage private investment into the country's failing freight rail network. Transnet struggles to provide adequate rail freight and port services due to equipment shortages, maintenance backlogs and rampant cable theft. In a televised address, Transport Minister Barbara Creecy stated that the limited availability of resources from the state to fund infrastructure and to deal with backlogs have intensified these challenges. This has severely restricted state-owned entity's ability to fulfill their mandates. She said that the RFI is focused...

Transport Infrastructure

Golf-Whitnell sinks 2 hole-in-1s in the second round of S.African Open

After making two holes-in one at the DP World Tour South African Open held at the Durban Country Club, Englishman Dale Whitnell will likely toast his success in the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and the 12th holes in his second round. Both par threes. His rollercoaster round of 63 leaves him with nine under par for the tournament. He is five shots behind the clubhouse leader Shaun Norris (64), from South Africa. The play was suspended on Friday evening due to poor lighting. Several players were...

Transport Infrastructure

Whitnell makes two hole-in ones in the second round of SA Open

After making two holes-in one at the DP World Tour South African Open, held at the Durban Country Club in Durban on Friday, Englishman Dale Whitnell could toast his good luck with a few expensive round at the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and 12th holes in his second round. Both par threes. His rollercoaster 63 puts him at nine under par for the tournament. He is five shots behind South African Shaun Norris (64), the leader in the clubhouse. Whitnell became the second player on tour...

Transport Infrastructure

First round of SA Open weather-affected by a trio

After bad lighting cut short Thursday's opening day of the DP World Tour South African Open, Fredrik From, Sam Bairstow, and Darren Fichardt shared the lead with seven under par. Fichardt had yet to complete his round. The course was covered in huge puddles on Wednesday, and the start of first round was three hours delayed. This left a number of golfers with a lot of time to finish their rounds. From had two eagles on his 65. Both were par fives. Bairstow, on the other hand, managed eight birdies. His round was only marred by a missed shot on...

Transport Infrastructure

Parry leads Kenya Open with 65 shots.

John Parry of England carded a bogey free 65 on Friday, giving him a tournament score 14 under par and a one-shot lead after the second round at the DP World Tour Kenya Open held at the Muthaiga Golf Club. Parry is the only player to have not dropped a shot since the start of the tournament. His 63 on the Thursday was a superb score. Hebert from France, who had a 66 during his second round, leads the leaderboard halfway through the event. South African Jayden Schper (69), who is currently in third place, is five shots behind Parry...

Transport Infrastructure

Companies sell their services in Russia

Lots of Western business have actually sold their Russian assets or handed them over to local supervisors to adhere to sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreignowned possessions. Below are some business that have offered their organizations in Russia, divided by sector: AUTOS Continental sold its Russian tyre plant to holding company S8 Capital in May 2023. Renault offered its bulk stake in Avtovaz to the Russian state in 2022, reportedly for just one rouble however with a six-year choice to buy it back. Volkswagen finished the sale of...

Transport Infrastructure

DP World and Anglo American seek to expand operations in Peru, states government

Dubai's DP World and worldwide miner Anglo American are wanting to expand their operations in Peru, the federal government stated on Wednesday, including that DP World had suggested it could invest $1 billion. Port and logistics company DP World would use the funds to expand its port infrastructure in the Andean nation, the governmental workplace stated in a message on X, including that would increase agro-exports and employment, along with reinforce Peru's. position as the region's logistics hub. The financial investment announcement was made by the CEO of DP World,. Sultan Ahmed bin Sulayem, after a conference with Peruvian. President...

Transport Infrastructure

DP World and Anglo American seek to expand operations in Peru, states government

After the post-election unrest, Maputo's port volume has declined.

The port operator reported that Maputo's biggest port saw a 1% drop in volume in 2024, mainly because of post-election protests which forced the closure of borders and roadblockages. After a disputed vote on Oct. 9, Daniel Chapo's Frelimo Party, which has been ruling Mozambique in its current form since 1975, won the election by a narrow margin, protests by the opposition erupted across this southeast African nation. More than 300 people have died in the unrest after a crackdown carried out by security forces. Maputo Port Development Company's (MPDC) statement said that the port volume for 2024 fell to...

S.Africa coal miner Thungela names De Beers' Madondo as new CEO

Thungela Resources has selected De Beers executive Moses Madondo to replace July Ndlovu, who is retiring from Aug. 1, the South African thermal coal exporter stated on Tuesday. Thungela said in a statement Madondo is taking over from Ndlovu, who will reach the age of 60 years in July and has to step down according to the company's retirement policy. Ndlovu, an engineer, has been at the helm of Thungela, which mines coal burned in power stations, given that it was spun off from Anglo American in 2021. Prior to that he had headed the Anglo coal department. He steps...

South Africa's Transnet half-year loss broadens to $117 mln

South African stateowned logistics group Transnet on Tuesday reported a broader loss of 2.2 billion rand ($ 117.48 million) in the 6 months to Sept. 30 on higher expenses and functional difficulties. Transnet made a loss of 1.6 billion rand during the same period last year. The debt-saddled business has actually struggled to provide appropriate freight rail and port services for years due to devices lacks and maintenance stockpiles. Chronic underperformance has actually suppressed exports of key products such as coal and iron ore, crimping economic growth in Africa's many industrialised nation. The logistics firm said its income rose 6%...

Norris wins at Leopard Creek to take 2nd DP World Tour title

Shaun Norris of South Africa won the Alfred Dunhill Golf Champion at Leopard Creek Nation Club on Sunday after a finalround 67 provided him a 13underpar overall of 275 and a oneshot victory. It was a second win in the DP World Trip for the 42-year-old, who started with an eagle at the 2nd and got rid of a double bogey on the seventh to take an early clubhouse lead. Norris started the day 6 off the lead but saw as his challengers fell short on the final holes. Englishman John Parry, Ryan van Velzen from South Africa and over...

Kinhult opens three-shot lead at Alfred Dunhill Championship

Sweden's Marcus Kinhult carded a 68 in his second round to open a threeshot lead at the middle of the DP World Tour's Alfred Dunhill Championship dipped into a blistering Leopard Creek Country Club on Friday. Kinhult, 28, sunk 7 birdies but also carded three bogeys as he moved to 11 under-par for the competition, opening some daytime in between himself and a trio of gamers on 8 under-par-- South African Dean Burmester (67 ), Dale Whitnell (67) from England and Italian Andrea Pavan (69 ). Kinhult is hunting a 2nd win on the European circuit, his first coming at...

Passenger Transportation Services

Mali's Barrick hardball talks are being driven by two former Barrick employees

According to sources familiar with the discussions, two former Barrick Gold executives who have inside information about the Canadian miner's operations in West Africa help drive Mali's demand for a payment from the Canadian company of approximately $200 million. Mamou and Samba Toure were both employed by Randgold in Mali, now part of Barrick, which is a mining firm. Mali's military government, which seized in December three metric tonnes of gold worth approximately $245 million from Barrick, has given miners until Saturday midnight to respond to their demands. According to a source with knowledge of the situation, it wants Barrick...