Ibom Deepsea Port to handle four million TEUs in 2040 … work to start in January

Ibom Deapsea port

Ibom Deepsea Port will accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels upon completion and is estimated to grow from about 1.2 million (Ten Equivalent Units) TEUs in 2021 to about four million TEUs in 2040.

This was contained in a statement issued by the promoters of port, noting that work would commence at the site of the port this January and the process requires private sector players signifying interest in financing it.

The port is strategically located in the South East of Akwa Ibom State, on a 2,565 hectares Greenfield port area which is designed for New Panamax, Class vessels with channel (18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 km. The project is said to be in an enviable position to emerge as the first major transshipment hub for the region.

“Due to its proximity to target markets in West and Central Africa, neighbouring hinterland countries and major shipping lines calling West/Central Africa, large gateway market size to attract direct vessel services and sizable transshipment cargo hinterland for feeder shipping network connection, as well as its capacity to handle post and New Panamax vessels at its specialized terminals.

“The IDSP is in an enviable position to emerge as the first major transship hub for the region. The transshipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about four million TEUs in 2040,” said the statement.

The statement said “the procurement process for the IDSP Project is scheduled to commence in January 2018 with advertisement of the Request for Qualification (RFQ) from reputable private sector port developer/operators for the development of the Deep Seaport would be done in partnership with the Akwa Ibom State government and the federal government of Nigeria.

“With the prevailing gap in functional seaports in West Africa coupled with the demonstrated commitment of both the federal government and the Akwa Ibom State Government to create an enabling environment for private sector investors to exploit the opportunities in the industry, the Ibom Deep Seaport presents a compelling investment case that cannot be ignored by investors.”

“The IDSP is positioned to offer a value proposition superior to other seaports in the region. Available data indicates that the various seaports currently serving the West and Central African sub-region are reaching saturation and the need for viable alternatives has become critical for major shipping lines sailing these routes.

“With limited land to expand the existing seaports in Lagos and the inhibiting conditions against the development or expansion of other ports in neighboring countries, the Ibom Deep Seaport offers an ultra-modern deep seaport with modern cargo handling equipment, facilities and systems that can address the capacity challenges constraining other seaports across the region. The Greenfield site has substantial land available for future expansion.”

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