SPECIAL FEATURE
The Maritime Economy offers blue water opportunities Contribution to GDP could rise to R177-billion by 2033.
Richards Bay is the site of South Africa’s largest coal export terminal.
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each port to focus on its strengths. Transnet spent R2.5-billion on new port equipment in 2019/20. On the west coast, Saldanha is the main port for the export of iron ore. Large industrial operations already exist and the Saldanha Bay Industrial Development Zone (SBIDZ) is set to become a hub for maritime repair activities and oil rig maintenance and repair. About 1 800km to the east and five degrees further north, Richards Bay Coal Terminal (RBCT) is South Africa’s primary export portal. Although volumes dipped somewhat to 72.1-million tons in 2019, the fact remains that the infrastructure is in place to support expansion of aspects of the Maritime Economy through the Richards Bay Special Economic Zone (RBSEZ). Sectors under investigation include alternative energy generation and opportunities in the gas sector. A feasibility study is being done on a gas-topower plant and a large liquid petroleum gas import and storage terminal was recently built for Petredec by Bidvest Tank Terminals. Saldanha Bay can offload Very Large Crude Carriers as can the Port of Durban, which is Africa’s busiest port. Durban handled more than 81-million tons of cargo in 2019, which included 2.84-million
arely does a country have an opportunity to start a new sector from scratch, let alone two. When the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) began in 2011 to find new sources of electricity, a strong new economic sector came into being. In eight years, investment totalling R209.4-billion was committed to the energy programme by local and foreign entities. If anything, the potential of the Maritime Economy, sometimes called the Oceans or the Blue Economy, is even greater. The anticipated numbers are impressive. The share of the Maritime Economy to South Africa’s gross domestic product (GDP) will by 2033 grow by upwards of 250% (and perhaps as much as 350%) compared to its current value, to a figure between R129-billion and R177-billion. A million new jobs are expected to be created. In every field South Africa either has existing infrastructure or is in the process of creating or reviving it: ship-building and repairs, oil rig maintenance, oil and gas operations, port operations, logistics, marine engineering and bunkering. South Africa’s eight ports are run by the stateowned group Transnet, which has a strategic plan for
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