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Kenyan Port of Mombasa, largest port in East Africa, records highest transshipment traffic

Published

3 years ago

April 13, 2022

The Mombasa Port in Kenya, reputed to be the largest in the whole of East Africa, is experiencing its highest volume of traffic in substantive transshipment business as more ships evade berthing delays and waiting at the neighboring Port of Dar es Salaam in Tanzania.

Official statistics released on Tuesday by the Kenya Ports Authority indicate that at the beginning of this month, 7, 894 Twenty Feet Equivalent Units (TEUS) transshipment to the Dar es Salaam port landed at the Port of Mombasa to await nomination for second carriers to the ports of Dar es Salaam and Zanzibar.

The statistics also revealed that the Mombasa Port has witnessed a noticeable growth in transshipment volumes by an average of 2.5 percent in the last one month, making it one of the busiest in the world.

“Over the last one month, the Port of Mombasa has handled over 10 feeder ships transshipping from the Port of Dar es Salaam with containers advancing her opportunities for a regional transshipment hub.

“MSc Shipping Line, the second top on the world’s liner rankings has confirmed using the port of Mombasa until the situation normalizes in Dar es Salaam. Others include CMA CGM and Maersk Shipping Lines,” the Kenyan Ports Authority said.

The General Manager Operations, Sudi Mwasinago, also confirmed that amongst the shipping lines discharging transshipments at the Port of Mombasa for Dar es Salaam, MSC accounts for 75 percent of the total transshipment volumes while CMA CGM and Maersk accounted for 24 percent and 9 percent respectively.

He said following the significant rise in transshipment business, MSc increased to three feeder services to Mombasa, on a weekly basis service.

Mwasinago noted that the delay of the MSc vessels at the port of Dar es Salaam means that more traffic is diverted to the Port of Mombasa.

Related Topics:Featured Kenya Mombasa Port Shipping

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Mozambique drops interest rate for 6th time in 2024

Published

6 days ago

November 29, 2024

Ifeoluwa Dada

As inflation remains low in southern African Mozambique, its central bank has lowered its main interest rate by 75 basis points, the sixth straight drop.

Mozambique’s MIMO interest rate dropped from 13.50% to 12.75%. Since July, Mozambique’s inflation rate has stayed below 3%; in October, it was 2.68% annually.

In a statement, the Bank of Mozambique stated that, despite concerns about post-election demonstrations and their effect on the cost of goods and services, its most recent monetary policy decision was consistent with maintaining inflation in the single digits over the medium run.

With a moderate inflation forecast, the policy rate was lowered for the sixth straight time.

Despite concerns about post-election demonstrations and their effect on the cost of goods and services, policymakers said the decision was compatible with keeping inflation in the single digits in the medium run.

Although headline inflation increased slightly to 2.68% in October from 2.45% in July, it has stayed below 3% since then. Banco de Moçambique is the source.

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Hackers stole $17 million from Uganda National Bank— Report

Published

7 days ago

November 28, 2024

Ifeoluwa Dada

The state-owned New Vision newspaper has reported that offshore hackers had stolen 62 billion Ugandan shillings ($16.8 million) from Uganda’s central bank.

Earlier this month, the hackers, who went by the name “Waste,” allegedly gained access to the Bank of Uganda’s IT systems and moved the money illegally.

According to New Vision, which cited anonymous bank sources, the Southeast Asian hacker collective moved a portion of the pilfered funds to Japan.

A request for comment on the issue from Reuters was not immediately answered by Bank of Uganda. A request for a response from the Ugandan police was likewise not answered.

More than half of the funds had been successfully retrieved by the central bank from the hackers, according to New Vision. It stated that President Yoweri Museveni had ordered a probe into the cyberattack.

Separately, the Daily Monitor, Uganda’s largest independent daily, stated that insider collaboration could have played a role in the crime.

In Uganda, there have been several instances of cyber thefts from banks and other financial service providers, including telecom companies. However, according to police authorities, several banks are reluctant to openly admit such events for fear of upsetting their clientele.