Transnet turns to government for debt relief lifeline
NewsSouth Africa’s Transnet sets sights on government assistance to alleviate its US$ 7.3 billion debt.
The South African port sector is experiencing profound, long lasting congestion that exceeds anything seen in the country in recent years. Waiting times of up to 20 days were reported at Durban in November, with about 70 vessels waiting outside the port at any one time. Cape Town recorded delays of up to 14 days, while congestion is also affecting the ports of Richards Bay and Gqeberha.
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