Transnet Port Terminals (TPT) is considering further private sector partnerships at underperforming terminals as it seeks to accelerate volume growth, while dealing with disruption at its flagship Durban partnership.
Chief executive Jabu Mdaki said the division was pursuing two major partnerships, at the Ngqura manganese export corridor in the Eastern Cape and the Richards Bay Dry Bulk Terminal in KwaZulu-Natal. TPT is investing about R4 billion a year in equipment and reported a 6% increase in revenue in the 2026 financial year.
The Richards Bay process, launched earlier this year, seeks a partner to raise capacity at the dry bulk terminal from about 18.5 million tonnes a year to 26.9 million tonnes, with chrome and magnetite among the main growth commodities. Under the proposed structure, TPT would keep a 51% stake in a special purpose vehicle. At Ngqura, Transnet has invited bids for an operator to handle about 16 million tonnes of manganese a year.
Transnet’s Port Private Sector Partnerships
| Terminal | Status | Detail |
|---|---|---|
| Durban Gateway Terminal (Pier 2) | Operating since January 2026 | ICTSI bought 49.999% for R10.5bn; 25-year concession |
| Richards Bay Dry Bulk Terminal | Partner selection under way | Capacity 18.5mt to 26.9mt a year |
| Ngqura manganese terminal | Bids invited | About 16mt a year |
| Cape Town multipurpose terminal | Proposals requested (July) | 25-year concession |
| Cape Town liquid bulk terminal | Concluded (October 2025) | FFS Tank Terminals, 25 years Sources: Transnet, Business Day, Engineering News, Freight News |
Transnet has turned to private partners because its balance sheet cannot fund the scale of investment needed. In July it requested proposals for a 25-year concession to redevelop and operate the Cape Town multipurpose terminal, after the port was ranked among the worst performers globally in the World Bank’s container port index.
The partnership model is under scrutiny after problems at the Durban Gateway Terminal, formerly Durban Container Terminal Pier 2 and the country’s busiest container terminal. Philippines-based International Container Terminal Services Inc (ICTSI) took over operations on 1 January under a 25-year deal, paying R10.5 billion for a 49.999% stake. A switch to a new container management system in August caused severe delays. Transport Minister Barbara
Creecy said average vessel anchorage times had roughly doubled to nearly six days since ICTSI took over, and some ships have bypassed Durban.
Freight forwarders escalated the problem to the Presidency in August. Transnet chair Andile Sangqu has said the system did not work as it should, and the group’s chief operating officer visited the terminal to help resolve the problems, even though Transnet has no operational role there.
The Durban terminal is investing R737 million in equipment to raise capacity by 40% to 2.8 million twenty-foot equivalent units by 2030, according to Creecy.
Transnet returned to profit in the year to March 2026, reporting R4.6 billion against a R1.9 billion loss a year earlier, helped by the gain on the Durban stake sale. Group revenue rose 7.1% to R88.6 billion. Excluding the one-off gain, headline earnings showed a loss of R4.8 billion.