Currency fluctuations could affect volumes

Freight volumes into West Africa could be affected by currency devaluations in the two leading economies – Ghana and Nigeria – says Valerie Guede, regional manager West Africa of JF Hillebrand/Transocean. “Particular attention should be paid to the currency depreciation in Ghana this year, as it is seriously affecting volumes and consumption,” she says. Rising incomes in the region will serve to partially offset the impact of the lower volumes and could help keep freight rates down. “Freight rates are still low due to the arrival of several new lines on the West Africa Coast over the past few years.” Larger non-geared vessels are excluded from most of the ports due to a lack of equipment. “Even today not many harbours are equipped with gantry cranes.” On the positive side Lagos, which is the main port in the region, “is finally decongested, which improves vessel frequency for the whole region,” she says. JF Hillebrand services the area on both full container load and consignment (LCL) basis “from all over the world. “We plan to start LCL services to Ghana, Nigeria, Ivory Coast, Senegal and Cameroon from Europe in 2015,” she says. The company has representation in Ghana, Senegal and Cameroon, and will be represented in Nigeria and the Ivory Coast from next year. The West Africa services are managed from an office in Paris.