Freight Market Updates
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Freight Market Update: July 26, 2021

Freight Market Update: July 26, 2021

August 20, 2021
July 28, 2021

Freight Updates:

Cyber-attack leaves Africa’s biggest port Manually processing shipments.

Transnet SOC Ltd, A state-owned ports, freight, and rail company has suffered an alleged cyber-attack which has led them to resort to processing shipment manually.

Processing systems switched from a software system developed by Navis, to container companies filling out physical processing forms at the port.

As a result, movement at Africa’s largest port has faced a tough blow and has subsequently resulted in extended delays and disruption.

Source: Bloomberg July 22, 2021

Agents and Importers seek Stability at Kenya Ports Authority.

Due to the Kenya government’s inability to appoint a suitable and substantial managing director and board members, including a chairman has raised concerns with importers and clearing agents over the lack of sufficient leadership.

Clearing agents and importers said replacement of Rashid Salim, who has been an acting managing director since March last year, without a full board will likely affect the process of making key decisions at the port.

Changes being made in accordance with a deal signed between Kenya and the IMF have factored in the delay of appointing a new KPA Board chairman and managing director.

Source: The East African/Hellenic Shipping News July 22, 2021.

Kenya-Ethiopia Trade Relations a possible game changer for the region.

Despite the current political turmoil in Ethiopia, there is a lot of infrastructural and economic growth simultaneously taking place that Kenya has fed into.

Kenya needs the approval of her EAC neighbors to push the EAC agenda and with their being reluctance in some member states, this has made Ethiopia look like a possible trading partner.

The port and telecommunication sector relationship between the two countries is something to watch and has been seemingly well received and welcomed.

Source: The Star July 24, 2021