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It is no longer news that the Mediterranean Shipping Company (MSC), the worlds largest shipping line is set to take-over Nigeria’s container port terminal, Tin-Can Island Container Terminal (TICT). However, what is news is that the take-over which could be completed officially in weeks, could change the dynamics of Nigeria’s ports system.
Recall that in January 2022, the MSC took over from Denmark’s Maersk Line to become the world’s largest container liner.
According to investigation by the Nigerian Tribune, currently APM Terminal Apapa sits atop the busiest container port terminal chart in Nigeria, accounting for the lion share of container traffic that arrives Nigerian ports.
However, findings have revealed that the number one position enjoyed by APM Terminals has over the years been boosted by the sister-relationship that exist between the worlds former largest shipping line, Maersk Line and APM Terminals in Apapa.
With MSC acquiring TICT, the busiest container port toga in Apapa might be set to change given the current standing of MSC as the world’s largest shipping liner. Speaking with the Nigerian Tribune on the development, a shipping agent with Cosco Shipping Line who wouldn’t want his name in print explained that MSC entry into port business in Nigeria might change the dynamics of Nigeria’s ports.
According to the shipping agent, “APM Terminals have been the busiest container port operator in Apapa for years because its sister company, Maersk Line readily feeds it with cargoes year in, year out. Even when cargo volume dropped at the ports in recent months due to global economic recession, APM Terminals always have enough cargoes to handle because Maersk Line brings cargoes to no other container terminal in Nigeria other than APM Terminals Apapa.
“The other container terminals like TICT and Port & Cargo Handling Services (P&CHS) have had to depend on memorandum of understanding with foreign shipping liners to get enough cargoes at times.
“However, the current situation where MSC isd taking over TIC T means only one thing, henceforth, MSC will be ffeding TICT with containers all round the year just has Maersk Line has always done with APM Terminals. The acquisition is set to transform TICT into a very busy container terminal. I foresee it surpassing APM Terminals here in Apapa.
“The dynamics of shipping is beginning to go beyond just owning shipping lines. Investors now see the acquisition of port terminals as a complement to ownership of shipping lines. In Nigeria today, ports that have shipping lines that feeds them regularly are the busiest. Take for example, the PTML terminal is the busiest Roll-On, Roll-Off (RORO) port in Nigeria because it has a dedicated shipping line in Grimaldi that feeds it all year round. PTML and Grimaldi are sister companies. Same with APM Terminals and Maersk Line. Now, MSC has entered the fray with TICT. Let’s watch and see the battle for busiest container terminal in Nigeria in the next 12 months.”
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