West Africa’s Dry Bulk Shipping Market Transforms Amid Rising Chinese Demand
The dry bulk shipping market in West Africa is undergoing significant changes, driven by China’s increasing demand for minerals from the region. Recent reports indicate that capesize and larger loadings in West Africa have experienced double-digit growth over the past few years. According to investment bank Jefferies, West Africa now accounts for 14 percent of global Capesize liftings, a notable increase from just six percent four years ago. This trend is expected to continue, particularly with the anticipated rise in exports from Guinea’s Simandou iron ore project.
The first shipment of nearly 200,000 metric tons of iron ore from Simandou recently reached Majishan port in East China. A second shipment departed Guinea in late December, contributing to the project’s ambitious goal of producing 120 million tons annually. This surge in exports is poised to bolster the region’s shipping market further, as demand from China remains robust.
Ghana’s Manganese Exports Set to Soar with Historic Bulk Carrier Arrival
In a historic move, Ghana is poised to increase its manganese exports to China significantly this year. For the first time, the country will welcome an ultra-capsize bulk carrier, the MV CBS Years, which is scheduled to arrive at the Port of Takoradi on January 27. This milestone marks a significant development for the Ghana Manganese Company (GMC), which aims to achieve a 10 million tons export target by 2026.
The arrival of the MV CBS Years involves collaboration with partners such as Cosco Shipping Lines and the Ghana Ports and Harbors Authority (GPHA). A welcome ceremony is planned to commemorate the berthing of this largest bulk carrier in West African waters. In preparation for this event, members of GPHA’s marine operations team, including marine pilots, have traveled to China for advanced training in berthing capesize vessels.
Kofi Gyetsua Ankuma, GMC’s Administrative Superintendent, emphasized the importance of this development, stating, “MV CBS Years’ call at Takoradi marks a significant business turning point for the GMC.” Ghana’s manganese export target has nearly doubled, with production expected to reach five million tons in 2024. This growth solidifies Ghana’s position as Africa’s third-largest manganese producer, following Gabon and South Africa.
Ghana Welcomes MV CBS Years: A Milestone for Maritime Industry
GMC is collaborating with China’s Tianyuan Manganese Industry (TMI) to establish Ghana’s first national manganese refinery. The project, budgeted at $450 million, has faced delays since its inception in 2024 but remains a key component of Ghana’s mining strategy. As the region’s shipping market evolves, these developments highlight West Africa’s growing significance in the global minerals trade.
