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The new tariffs are available online, changed little since I last posted them but the brochure is full of nice piccys now.
Morning Mike,
You are right to be conservative and so was I with $10. We should all hopefully get to know when the contract comes along.
PF plays his cards very close to his chest on the businesses they are involved in. Something though seems to be bubbling in North Africa as well as the Middle East for PF to have formed that other Strategic Partnership with Rosehill Security. Their kit seems to be as good as it gets.
Tunisia my guess.
https://www.pssasecurity.org/rosehill-security-targets-middle-east-north-africa-westminster-international-strategic-partnership/
Just imo
I've been here many many years.... sitting on a fair few of them through the downs & downs. Looked through all the recent posts since Friday, but couldn't see anything about the sister port in Barbados. Does anyone think there may be potential for a similar operation in Bridgetown ?
https://www.graphic.com.gh/news/general-news/bridgetown-and-tema-sign-agreement-establishing-sister-port-relationship.html
DHC,.. absolutely agree. It's just a question of how long it will take to get to that level of through put etc., and yes you may well be right with teh higher % to WSG,... I was just trying to be uber conservative. Will be good to some meat on the bones when the contract is signed albeit I think we will only be fed generic info.
HB,...
My little log, for our berths suggests 35 ships for September.
However if we use there figures,.. that is circa 1,500 TEU's per vessel,..... rather than the 1,000 I used. So would make my fag pack calc look quite conservative.
If it helps, we know that 40 ships were services and we scanned 65,000 TEU's in September. Fact as it's on the Tema Port facebook page.
https://www.facebook.com/MPSTemaPort/?__tn__=%2Cd%2CP-R&eid=ARBpB0LE5Kiez6EpkkGle_b2RJYh_8Gye5UD0BDcR-UWfwRJxOOLUk_Au9oXQ_lfcJmp8QA8FABxXn0Z
noodle..... 66% WSG 33% Scan port----- on a $15.2/TEU fee for a full 20ft container--- from the current port tariff fees for 2019.
The % split is MY guesstimate,... based on the comment by PF at the AGM when he said we would get the lion's share of the fee.
Best
Good morning Mike, and all.
Thanks for trying to give your thoughts on possible revenue at Tema, let’s hope that your figures prove somewhat correct. That will certainly add some much needed ££‘S to WSG’s books when we get the interims.
Also hope that PF may be able to provide some further details when the contract is formally announced.
Westminster/scanport ratio?
Fag packet calc:
The berths went operationally live at the end of June and as we know it was a slow start-up as procedures were learned etc., My logs show that the 6 or 7 ships/week were being serviced at that time,… and that continued for roughly a couple of months. The through rate has now increased to circa 8-9 ships a week, with a recent maximum being 10 ships in one week.
So if we average that at circa 8 ships/week and allow for 6 months revenue— July to Dec— then we are looking at fees generated from circa 26 weeks x 8 ships = 208 ships serviced.
Most of the vessels recorded were ‘mid-sized-,… with the capacity to carry 4000 TEU’s and upwards,.. but we have no details of whether they were fully laden or how many TEU’s were off-loaded and loaded. So this is where we are really ‘reaching’ in terms of trying to put numbers to the possible revenue being generated by each ‘visit.
IF WE ASSUME(!) 1000 TEU handled, per ship, on average, that suggest 208K TEU’s over the course of the 6 months to this Financial year end, December ’19.
I think we are all agreed that by looking at the existing port tariffs our fee is likely to be in the region of $10/TEU…. or circa £8/TEU.
So circa $2.08M revenue…. or £1.75M to WSG for this year?
Remember this is only for 6 months and includes for the lower throughput during the ramping up period over the first few months. Throughput at current ship servicing rates would be circa 10-15% higher…. and at the end of Q1 2020 the third berth is due to become operational.
As I say the big unknown is just how many TEU’s are loaded/unloaded at TEMA. If we are indeed on target to be servicing 1M TEU’s, after 12months … the stated aim,… then my numbers above are very conservative. Anyway,.. food for thought. It looks as if all will become clear very soon.