Cargo transport booming

According to the statistics published by South African port authorities, cargo shipping has been witnessing continuous growth in recent years. In 2015, 19 million tons of cargo were shipped throughout the country’s eight commercial harbors, an average of two million tons more than previous years.

International Transport Forum (ITF) has estimated that intra-African trade will witness a 735% increase by 2050. Meanwhile, international cargo transport will undergo a 200% growth in terms of volume. These prospects are a good sign for the marine insurance market in Africa.