Logistics major expects currency-related shift to continue

THE IMPACT of the weakening rand as well as rising interest rates have resulted in a slight shift from imports to exports, a trend more than likely to continue until the situation is reversed, says Mervyn Cookson, Western Cape regional director of Safcor Panalpina. This is certainly borne out by statistics from Transnet National Ports Authority for deep sea containers which show that exports from Cape Town exceeded imports between January and December last year, with 216 892 teus exported and 196 193 imported. Richards Bay was the only other major port that exported more than it imported. Figures for Durban, South Africa’s busiest port, however show an opposite trend for the same period – 578 142 teus exported and 875 595 imported. The Western Cape economy is undeniably performing well, says Cookson, growing at a robust 5.8% year on year and continuing to outperform the national growth pattern. He points to Wesgro data that agriculture, forestry, mining, fishing, retail and manufacturing continue to be the leading import and export sectors for the Western Cape. West Africa is currently viewed as the fastest-growing oil and gas exploration and production area on the Continent, representing many opportunities for oil and gas service providers in the Western Cape, he added. Cape Town is strategically located as a gateway to West Africa and has the largest port in the region, with superior backup. In order to make the most of the lucrative opportunities presented for provincial companies by the West Africa oil ands gas boom, the Cape Oil and Gas Initiative (COGSI) was launched by the Western Cape government in 2004. Cookson says key requirements for success in this industry include quality, reliability, short turnabout times, and adherence to international standards. COGSI aims to support local industry in these critical performance areas as well as nurturing networks with key stakeholders, including other African governments. Keenly aligned with the oil and gas sector, Safcor Panalpina was once again an exhibitor at the Oil Africa 2008 Conference and Exhibition in Cape Town this month.