Monrovia Free Port enables 24-hour operations
June 23, 2016: Monrovia Free Port in Liberia, West Africa inaugurated a new port navigation system which will enable 24-hour port access to the port for the first time in three decades.
The new equipment includes 12 off-shore buoys and two land-based range markers, which were installed at a cost of approximately $500,000.
Previously, the absence of buoys, lighting and electronic navigation systems limited port access to daylight hours only.
“The return to 24-hour accessibility to the port is another major milestone in the development of the Liberian economy as a global trading partner, and increases the ability of APM Terminals Liberia to serve the people and businesses of Liberia, and the region,” stated George Adjei, managing director, APM Terminals Liberia.
APM Terminals began operations at the Port of Monrovia in February 2011 under a 25-year concession agreement for the privatisation of the port concluded in 2010.
Under the terms of the agreement, $120 million will be invested in port upgrades, with over $100 million invested to date.
The World Trade Organisation (WTO) formally approved Liberia’s membership on December 16, 2015 at the Geneva-based, 162-member group’s Tenth Ministerial Conference in Nairobi. With the ratification of the Liberian WTO Protocol of Ascension, formalised on June 15 by the Liberian government, Liberia will become the WTO’s 163rd member nation.
Membership becomes effective 30 days after the official ascension notification is received by the WTO. Trade policy and other reforms will help to stimulate foreign direct investment in Liberia and increase port traffic.
Approximately 350 vessels call the Port of Monrovia annually.
APM Terminals Liberia handles approximately 95 percent of the country’s trade which includes 800,000 metric tonnes of general cargo as well as containerised trade. Container throughput at the facility was 98,000 TEUs (twenty foot equivalent units) in 2015.
Photo: Liberian President Ellen Johnson Sirleaf visit to APM Terminals Liberia.