Swiss shipping giant MSC has entered into a 45-year concession deal with Nigerian maritime firm Nigerdock to construct, manage, and operate a new container terminal at Snake Island Port in Lagos.
The terminal forms part of MSC’s broader $1 billion investment in Nigeria’s infrastructure and logistics sector, the company confirmed.
As global shipping firms seek long-term stakes in emerging markets amid shifting supply chains, Nigeria Africa’s largest economy continues to face persistent congestion at Lagos’ ports.
The MSC terminal, which will be built by ITB Nigeria and DEME Group, is slated for completion by 2028. It will span 30 hectares (74 acres) and feature a 910-metre (3,000 ft) quay equipped for ship-to-shore cranes and mobile harbour cranes, accommodating both deep-sea vessels and barges.
Snake Island Port, operated by Nigerdock, covers 85 hectares and currently has three terminals serving the Lagos port complex.
War surcharge on shipments
In addition, MSC announced a “War Risk Surcharge” (WAR) for cargo shipments from the Indian subcontinent and Gulf countries to Africa and Indian Ocean islands.
The surcharge will affect cargo moving from Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE to destinations including West Africa, East Africa, South Africa, Mozambique, and Indian Ocean islands.