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Dear Madam/Sir
We did it! South Africa managed to host an incredibly successful Soccer World Cup over the last month and really prove to the world that we are able to deliver a world class event right here on the African continent. I could write forever on all the positives that have come out of the World Cup but no doubt, wherever you are based in the world, you will have read, watched and heard about the 31 days of fantastic fun and enjoyment had by over 3 million spectators in the stadiums and billions of television viewers around the world.
What is more exciting for us all is the legacy of improved infrastructure left behind that will benefit us in many ways. This includes improved communications, beautiful stadiums, new roads and rapid transport systems, greater numbers of police with enhanced skills, 3 magnificent airports in our main cities and so much more.
It has come at a cost for sure but at the same time it has demonstrated beyond what money can buy that it really is ‘Ke Nako’ - Africa’s time is here!
With our presence in Sub-Saharan Africa growing we firmly believe the same thing and in ‘Serving Africa’ all of us here at Sturrock Shipping will do our utmost to ensure that it is indeed time for this continent to demonstrate it’s ability and future.
Enjoy the articles in this month’s newsletter and don’t forget we would love to hear from you with information or suggestions as to how we may improve our communications with you all.
With kind regards |
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Andrew Sturrock
Managing Director |
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| Beira emergency dredging to start July 2010 |
Maputo, Thursday 10 June, 2010
CFM, Mozambique Ports and Railways, has the pleasure to announce that Emergency Dredging of the access channel to the Port of Beira, the berth and turning basins of the port itself, as well reclamation works for the future coal terminal, are due to start in July 2010.
The project has a budget of approximately 43 million Euros, of which 23 million will be financed by a loan secured by Government from the European Investment Bank, 10 million Euros will be Provided by CFM 'own funds' and 10 million Euros will be donated by the ORET Fund of Netherlands.
The work will be carried out by Van Oord Dredging and Marine Contractors bv of Netherlands who won the international tender for the works and whose contract became effective on the 24th of March 2010. ...read more
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| Port of Nacala - development plans |
Tuesday 6 July, 2010
A preparatory survey and study are currently being commissioned for the upgrade of the port of Nacala in the northern part of Mozambique.
Being the gateway port of the northern part of Mozambique and neighbouring landlocked countries via the Nacala Corridor, Nacala Port has been playing important roles in the international trade of the country.
The facilities of the port have been time worn and need rehabilitation. Above all, to cope with the growing economic activities in the region, the port requires capacity expansion toward the coming decades. ...read more
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| Infrastructure to get R93.4bn boost over five years |
Friday 18 June, 2010
Transnet will invest R93.4 billion in its infrastructure over the next five years with its rail divisions. Transnet Freight Rail (TFR) and Transnet Rail Engineering (TRE), sharing 59% of the project spend, the ports, Transnet Port Terminals (TPT) and Transnet National Ports Authority (TNPA), sharing 26%, while Transnet Pipelines (TPL) will receive the bulk of the 15%.
Announcing the annual results last week, acting Transnet CEO Chris Wells said the company had invested R8.7 billion on sustaining and upgrading existing infrastructure and R9.7 billion on expansion in the last financial year. ...read more
Source: Joy Orlek, FTW
http://www.cargoinfo.co.za/
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| New VAT returns for S.A. vendors importing and exporting goods |
Tuesday 22 June, 2010
Introduction of the new value-added tax (VAT) return for the remittance of VAT (VAT201) form.
The changes to the VAT 201 will impact all vendors, specifically vendors involved in the import and export of goods. These vendors will now be required to indicate separately on their declarations all transactions involving the import and the export of goods. This requirement will serve to inform and enhance SARS's risk assessment across the different taxes administered by SARS. The new form will be available shortly, and the current form must be used in the meantime. ...read more
Issued on behalf of the commissioner for the South African revenue service
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| New Incoterms® 2010 |
The South African Association of Freight Forwarders has reminded it members about a further revision of Incoterms® which have been covered in FIATA's e-Flash of July 2010 and which is repeated hereunder for the benefit of our readers:
Excerpt from the FIATA E-Flash No. 10 - July 2010
The text of the INCOTERMS® 2010 rules has been finalised, but not yet approved. This is expected to be done by the ICC Executive in September 2010.
On 1 January 2011 a comprehensive revision of ICC's Incoterms rules applying to billions of dollars of business transactions will come into effect, a major step in helping international trade professionals ensure legal certainty and save both time and money. The new revision, the first in a decade, reflects the profound changes that have taken place in global trade since 2000. ...read more
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| After the final whistle |
Congratulations Spain - truly worthy world champions! Congratulations South Africa - for staging a World Cup that, off the field at least, was so full of joy and fun!
599 players from thirty-two teams have played 64 matches in 10 stadiums and scored 145 goals between them across the beautiful Republic of South Africa this month. World Cup fever will come to an end, and, at least for this year, the vuvuzelas will play no more but the positive spirit will no doubt carry on. Did you know...
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| Airfreight demand beats pre-crisis level |
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Demand for airfreight rose strongly in May and now exceeds levels seen before the global economic downturn, the airlines body, the International Air Transport Association (Iata), said.
Cargo demand was up 34.3%.
Source: http://www.cargoinfo.co.za/
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| Outlook for the rand – an economist predicts |
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After gaining 22% on real trade-weighted this past year, from undervalued to overvalued, the rand is not going to stand still during 2010-2013.
But what will it be - feast or famine, and in what order?
In the view of FNB chief economist Cees Bruggemans, discounting another global crisis or a major domestic policy shift as low-probability tail risk for now, current prospects suggest continuation of the rand/dollar for 2010 at 7-8 and rand/euro at 9-10.
Some rand firming is still possible into 2011, followed by mild easing in 2012-2013, but it makes for relatively narrow trading ranges of 7-9 rand/dollar and 9-11 rand/euro.
Source: http://www.cargoinfo.co.za/
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