The West African Container Terminal (WACT), situated in Onne, Rivers State, Nigeria, has announced a forthcoming tariff increase, effective April 1, 2025. This adjustment, which has received the necessary regulatory approvals, impacts both terminal handling charges (THC) and storage fees. Specifically, THC will see an 8% increase, while storage charges will undergo a substantial 100% increase. This development has been communicated to stakeholders through a notice released by WACT, outlining the rationale and specifics of the tariff adjustments. Despite the significant increase in storage charges, the terminal has also extended the free storage period from three to five days, an effort to mitigate the potential impact on customers.
The decision to increase tariffs stems from WACT’s ongoing investments in infrastructure and operational improvements. The terminal emphasizes its commitment to providing a superior customer experience and positions the tariff adjustments as necessary to sustain this commitment. These investments encompass upgrades to equipment, enhancements to existing infrastructure, and optimization of operational processes. The terminal argues that these improvements ultimately benefit customers through increased efficiency, reliability, and safety, while also enabling WACT to maintain a cost-effective operation.
The 100% increase in storage charges, while substantial, is accompanied by a two-day extension of the free storage period. This extension aims to provide customers with greater flexibility and potentially offset some of the increased costs. WACT acknowledges the potential inconvenience of the tariff adjustments and presents this extension as a measure to alleviate some of the financial burden on its customers. The terminal emphasizes its customer-centric approach and underscores the importance of these changes for maintaining a high level of service.
WACT’s justification for the tariff increases centers on the need to sustain its investments in infrastructure and operational efficiency. The terminal asserts that these investments are essential for providing a seamless and reliable service, ultimately contributing to a more efficient supply chain for their customers. By investing in modern equipment and refined processes, WACT aims to enhance the overall efficiency and reliability of its operations, contributing to smoother cargo handling and reduced delays. This, in turn, is expected to translate into improved service for customers, despite the increased costs.
The planned tariff adjustments reflect WACT’s broader strategy to enhance its service offerings and maintain competitiveness in the evolving landscape of port operations. The terminal highlights its focus on embracing technological advancements, particularly in the realm of e-commerce, and emphasizes the importance of flexibility and reliability in meeting the demands of modern supply chains. By investing in its infrastructure and optimizing its processes, WACT aims to position itself as a leader in providing efficient and reliable container terminal services, adapting to the changing dynamics of global trade and the increasing reliance on technology-driven solutions.
In summary, WACT’s planned tariff increases, while significant, are framed within the context of its broader strategy to enhance its operational capabilities and provide a superior customer experience. The terminal emphasizes its ongoing investments in infrastructure and process optimization, positioning these investments as necessary to maintain its commitment to efficiency, reliability, and safety. While acknowledging the potential impact on customers, WACT highlights the extended free storage period as a mitigating factor and reiterates its commitment to providing best-in-class service. The company believes that these adjustments are essential for ensuring long-term sustainability and maintaining its competitive edge in the evolving maritime industry.
