South Africa's reputation as a favoured arrest destination for parties seeking security in the shipping sector remains steadfast.
According to Quintus van der Merwe, head of international trade and transportation at Shepstone & Wylie, the ongoing plans for port development and privatisation further bolster optimism within the industry.
“Recently, a significant step was taken as Transnet named ICTSI (International Container Terminal Services Inc) the preferred bidder for a joint venture aimed at expanding Durban Container Termina Pier 2's capacity.
"This expansion, slated to increase the terminal's capacity from two million to 2.8m TEUs, is expected to catalyse heightened traffic to the nation's ports.
"Consequently, this surge in port activity is set to unlock a plethora of new opportunities, not only for logistical entities but also for the legal sector, which will play a vital role in navigating the evolving maritime landscape,” Van der Merwe said.
- Read the full article here: "Terminal expansion opens opportunities for legal sector."
