Pretoria is pressing ahead with the creation of a national shipping line, something that has been on the drawing board since 2017.
The Department of Transport has released the first draft of the South African Shipping Company Bill, 2022 that aims to establish the country’s first national carrier, South African Shipping Company (SASCO).
Crude and chemical tankers as well as containerships, dry bulk vessels and bunker barges are all being eyed by the government, either newbuild or secondhand. All ships would be flagged in South Africa.
“Despite the country being a cargo-owning nation that generates approximately more than 80% of export cargo, the carriage of cargo is predominantly undertaken by foreign-owned ships,” the bill states.