NamPort records revenue of over N$1 billion

 

Namibia Ports Authority has recorded a total revenue of N$ 1 034 000 000 in the 2017/18 financial year compared to N$891 million that was recorded in the previous financial year, the company’s annual report that was tabled by the minister of works in parliament today shows.

 

Although the company’s transshipment container volumes decreased, local corridor import and export volumes increased which attracted   better returns, the report indicates.

 

“Operating profits for the year increased with 32% amounting to N$121 million, up from 92 million in the previous financial year. This was largely due to the operating cost across the group. Operating cost increased by 8% as a result of annual adjustment in employments and other operational cost.”

 

“During the reporting year much preparatory work was done to upgrade its process and procedure to meet the new specifications standards. Internationally the standard is being updated and integrated, specifically relating to occupational health and safety.

The safety, health, environment and quality (sheq) team has accomplished a great deal preparing for the migration, especially ensuring that Namport's new Sheq managment system retains its alignment with its strategy.

 

Furthermore, construction of the new container terminal is progressing on schedule and the project now stands at 85% completion in terms of construction works. The project has been scheduled for completion and commission early in the 2019/20 financial year.

 

The new liquid-bulk terminal at the Port of Walvis Bay’ north Port implemented by the ministry of mines and energy is currently 90% complete with completion planned for 2019 and commissioning soon thereafter, the report reads.

 

NamPort efforts to gain a foothold in SADC and increase its market share of transit volumes in the region have begun to bear fruit.

 

“Bulk exports increased year-on year by 7 percent while the export of minerals such as Copper, Lead and Zinc has increased markedly riding on favorable metal –exchange prices.”

 

“Equally encouraging, imports of mining chemicals and regents have increased on the outbound leg to Ndola in Zambia and to Lubumbashi in the Democratic Republic of Congo,” the report reads.