President-Ghana Chamber of Shipping (GCS) Stanley Raja Korshie Ahorlu notes that Ghana spends an estimated US$2billion annually on foreign shipping services, a situation that highlights the country’s overreliance on international maritime transport.
This situation deprives the country of value it could be generating locally through a well-developed shipping industry.
While the country owns and manages key port infrastructure – specifically the ports of Tema and Takoradi – a majority of the shipping value chain is dominated by international players.
Companies like Maersk and other global shipping giants handle the nation’s imports and export – meaning profits from shipping largely flow out.
Although these international companies offer excellent service and connect the country to its trading partners in Asia and Europe, their cost to the local economy is huge.
More concerning is lack of investment in the country’s domestic maritime space, especially in short-sea shipping, coastal shipping and inland water transport. These sectors remain underdeveloped and are key to the nation’s future.
Long-haul shipping needs are being met by international lines. However, when it comes to short-sea shipping between Tema and Takoradi, or the use of our inland waterways to move cargo and passengers, we are virtually non-existent.
“In an era when global supply chains are shifting and countries are seeking more localised production and consumption, having a strong local maritime sector is no longer optional”, Korshie Ahorlu maintains.
“If we don’t build up our capacity in coastal and inland water shipping, we will continue to rely on others. And in today’s world, that puts us at a serious disadvantage,” he further elaborated.
Ahorlu also stressed the importance of establishing a robust intra-African shipping network, which he believes is critical for prosperity of the country and continent.
Therefore, the GCS president has called on the country’s maritime regulatory agencies – including the Ghana Maritime Authority, Ghana Shippers’ Authority and Volta Lake Transport Company – to do more in supporting the development of local maritime businesses.
He made these observations while addressing the topic ‘The state of Ghana’s Shipping Industry: Empowering the Private Sector for Growth’.
