Scrap vessels are big business in Africa

Scrapped vessels have become the 9th fastest-growing import in Africa, according to head of Wesgro research division, Cornelis van der Waal. On average 1000 ships are scrapped every year, says van der Waal, and one container ship yields approximately 10 000 tons of steel. “It creates a massive opportunity for us in this province.” He said Bangladesh currently reclaimed 20% of national steel demand through vessel breakup. Van der Waal said there was also growing demand for food
and beverage in Africa and the Western Cape as South Africa’s biggest agri producer was ideally positioned to increase its exports. “But it is not just in the produce where there is opportunity. We do need to export more food and beverage to the continent, but we also need to look at construction materials and the like. The massive need for infrastructure development on the continent presents significant export opportunities.”