Share
PUBLISHED ON April 8th, 2019

Mombasa port earns Sh45bn as SGR boosts business

Things are looking up for Mombasa port as a modernisation project and the Standard Gauge Railway (SGR) bring in more cash.

The port earned Sh45.35 billion in 2018, an increase of Sh4 billion over the previous year’s Sh41.56 billion, as it handled a slightly higher number of containers.

According to the Kenya Ports Authority (KPA) financials for 2018, profit before tax for 2018 dropped marginally from Sh10.6 billion to Sh10.3 billion, largely as a result of an increase in expenditure.

MODERNISATION

With the five-year modernisation project, which entailed dredging the port channel and constructing Berth 19, the port has increased its capacity to handle bigger panmax (382 metres) vessels, and the upgrade of the cargo evacuation equipment saw it lower ship occupancy time from five to 1.55 days in 2017.

This means KPA can now expect to see growth in cargo volumes, and especially once the second container terminal under construction is complete.

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.

Leave a Reply

Your email address will not be published. Required fields are marked *