FTW's Cape Town correspondent Ray Smuts finds out where the industry's key players stand on the issue ... CONCERNS AND doubts notwithstanding, the Government is doggedly pressing ahead with the Coega development as part of its macro-economic strategy, but in the minds of many - not least those at the helm of shipping in South Africa - it's tantamount to serving a potato half cooked. Unless, of course, you are talking to P&O Nedlloyd, appointed Ôpreferred partner' for the undertaking (along with TCI Infrastructure) and the only shipping line to come up with a bid for specifically developing a multi-user container terminal at an estimated R800 million. There can be no doubt that all involved role players have given much thought to this ambitious venture but those not privy to all behind the scenes deliberations question whether that thinking process was sufficient and whether all other development options - such as Port Elizabeth - were thoroughly chewed over. While there is understanding for Government's eagerness to foster economic development in the Eastern Cape - one of the poorest provinces in the land - by way of an Industrial Development Zone (IDZ), the question remains: Is Coega a good idea? Knud E Stubkjaer, a partner in A.P.Moller Group (owners of Maersk Sealand and Safmarine) and the man directly in charge of Maersk Sealand's 32 container terminals worlwide, says bluntly: "If it were my money I don't think we would have put it in there." In an attempt to discover who stands where on this contentious issue, FTW spoke to several top shipping executives in recent weeks.
