Maritime Sector records huge trade deficit

Ghana’s maritime sector in the third quarter of 2009 recorded disappointing huge trade deficit of 1,437,688 metric tons.

According to the Ghana Shippers Authority’s quarterly journal maritime export and import trades accounted for 755,264 and 2,192,952 metric tons for period.

The journal which was released last Thursday and copied to theghanaianjournal.com said, total export volume for the quarter presented 8.0 per cent increase over the 2008 figure which stood at 697,967 metric tons export trade for the same period.

Total transit import for the period July to September 2009 was 88,046 metric tons, while the transit export was 3,638 metric tons.

“Greater share of the national maritime trade involving cargo trade was handled by the Tema Port that loaded and discharged over two million metric tons representing over 71 percent of total maritime trade. The Takoradi Port on the other hand handled 869,631 metric tons, representing 29 percent of the national maritime trade”.

The Takoradi Port accounted for 94,354 metric tons of the total liner exports for 2009, as against the 97,730 metric tons in the third quarter of 2008, showing a slight decrease, while the Tema Port recorded a decrease as it handled 186,496 metric tons in 2009, compared with the 233,270 metric tons that passed through that Port in 2008. About 280,850 metric tons, representing 37 percent of total export trade for the period were liner exports.

Dry bulk export trade took 62 percent of the total export trade, as 471,421 metric tons of the export trade was dry bulk exports trade.

The Takoradi Port recorded the largest export tonnage of 467,467 metric tons of dry bulk exports, as against the 3,945 metric tons handled by the Tema Port in the third quarter of 2009.

Liquid bulk exports accounted for only one per cent of total export trade in the third quarter of 2009, compared with the 24 percent it recorded in the same period in 2008.

Liquid bulk exports involved the transportation of crude oil, oil products, and liquid chemicals, such as caustic soda, vegetable oils and wine.

On the maritime import side, the total 2,192,952 metric tons recorded represented 74 percent, as against the 3,155,169 metric tons for 2008.

The Tema Port recorded a slight drop in tonnage with 1,885,151 metric tons it handled during the period, as against the 1,990,709 metric tons it recorded in 2008.

Takoradi Port also posted a lower figure of 307,801 metric tons of total imports for the third quarter of 2009, compared with the 1,124,460 metric tons in 2008.