Global Maritime Firms Prioritize Expansion in West Africa

Damen took over Dakar Shipyard as one of the examples of the emerging business opportunities in West Africa (Damen). Photo courtesy of the Maritime Executive.

Rerouting of global trade around the Cape of Good Hope has presented growth opportunities for some regions in Africa. Particularly, West Africa has greatly benefited from the diversion of the shipping traffic, with major maritime companies expanding their presence in the region. 

The longer voyage around the Cape of Good Hope has spiked demand for bunker fuels at emerging supply points in Africa. In addition, demand for ship repair services is also rising, an opportunity that West African countries appear anxious to take. This positive market outlook has also seen major shipping companies realign their liner schedules, deploying extra capacity to West Africa.

Last week, one of the world’s largest suppliers of marine fuels, Minerva Bunkering, announced its expansion in West Africa. The company owned by Mercuria Energy Group launched a bunkering service in Mauritania after approval by the National Hydrocarbons Commission (CNHY). Minerva will be operating from the Mauritanian ports of Nouadhibou and Nouakchott. From these locations, the company will supply commercial vessels as well as offshore oil and gas installations operating in West Africa.

Go to this link to read the full article published by The Maritime Executive https://maritime-executive.com/article/global-maritime-firms-prioritize-expansion-in-west-africa