South Africa's Transnet National Port Authority (TNPA) plans to raise its port tariffs by 12% from 2011-2012 period in a move to up its revenue.
The port authority said the increase was due to a revenue requirement of $1.07 billion, according to local media BusinessReport.
The TNPA told the Ports Regulator of South Africa that the tariffs will allow it to recover investments in owning, managing, controlling and administering ports and its investments in port services and facilities.
TNPA currently controls and manages eight commercial ports in South Africa, which includes Richards Bay, Durban and Cape Town.
The planned tariff hike has so far received some comments from the SA Association of Ship Operators and Agents (Saasoa) which said the increace "was way too much" as the industry has just come out of recession.
In 2009, the authority has requested a tariff hike of 10.62% which was not approved, allowing only for a 4.42% then.
Meanwhile, TNPT has reported a 35% rise on its first half (H1) 2010 profit due to its handling of record volumes of coal and iron ore at its ports.
Net profit in the six months ended September 30 climbed to $250 million from $179 million last year, according to Bloomberg.
Acting Chief Executive Officer Chris Wells said the company has been handling 70 million metric tonnes (mt) of coal in recent weeks, against less than 62 mt in the past two years.
The port authority said the increase was due to a revenue requirement of $1.07 billion, according to local media BusinessReport.
The TNPA told the Ports Regulator of South Africa that the tariffs will allow it to recover investments in owning, managing, controlling and administering ports and its investments in port services and facilities.
TNPA currently controls and manages eight commercial ports in South Africa, which includes Richards Bay, Durban and Cape Town.
The planned tariff hike has so far received some comments from the SA Association of Ship Operators and Agents (Saasoa) which said the increace "was way too much" as the industry has just come out of recession.
In 2009, the authority has requested a tariff hike of 10.62% which was not approved, allowing only for a 4.42% then.
Meanwhile, TNPT has reported a 35% rise on its first half (H1) 2010 profit due to its handling of record volumes of coal and iron ore at its ports.
Net profit in the six months ended September 30 climbed to $250 million from $179 million last year, according to Bloomberg.
Acting Chief Executive Officer Chris Wells said the company has been handling 70 million metric tonnes (mt) of coal in recent weeks, against less than 62 mt in the past two years.