Ethiopian Sea Transport Targets Record Revenue & Freight Volume

The Ethiopian Sea Transport and Logistics Service aims to generate 104.14 billion birr revenue by transporting over 8.25 million tons of goods this fiscal year, 2017.

Demissew Benti, head of the Corporate Communication Department in Ethiopian Sea Transport and Logistics Service, shared that the revenue will come from sea transport services, focusing on exports and imports.

Last year, the organization set a goal of 51.01 billion birr for sea transport and logistics. They exceeded this target by earning 57.14 billion birr, resulting in a net profit of 8.86 billion birr. This year’s freight transportation goal represents a 10% increase from the 7.5 million tons handled last year.

Demissew Benti highlighted the service’s critical role in facilitating over 94% of the nation’s trade activities, including public transport, freight transport, and port operations. He also addressed security challenges in the Red Sea region but expressed confidence in resolving these issues through collaboration.

Due to security concerns affecting shipping routes from China and other Far East countries, the service has arranged to use ports in Saudi Arabia and Oman for local transport. This step prevents potential disruptions to business operations.

Demissew Benti also mentioned plans to lease additional vessels and purchase six new ships in the upcoming fiscal year. The organization has expanded operations beyond Djibouti port to include Lamu port.

Other Stories

Tigray Aims to Deliver 800 KG Gold to NBE in this Fiscal Year