The project forms part of MSC’s planned $1 billion investment in infrastructure and logistics in Nigeria, aimed at strengthening port capacity and improving supply chain efficiency in the country.
Global shipping companies have increasingly sought long-term positions in emerging markets as global supply chains undergo significant restructuring. In Nigeria, persistent congestion at ports in Lagos has heightened the need for additional modern terminal infrastructure to support growing trade volumes.
According to the company, the new terminal will occupy about 30 hectares and feature a 910-metre quay designed to accommodate ship-to-shore cranes and mobile harbour cranes. The facility will be capable of handling both deep-sea vessels and barges.
Construction of the terminal will be carried out by ITB Nigeria and DEME Group, with completion expected by 2028.
Snake Island Port, operated by Nigerdock, is an 85-hectare maritime facility comprising three terminals that serve the Lagos port complex.
MSC Introduces War Risk Surcharge
In a related development, Mediterranean Shipping Company recently announced plans to introduce a “War Risk Surcharge” on cargo shipments from parts of the Middle East and the Indian subcontinent to African destinations and Indian Ocean islands.
The surcharge will apply to cargo originating from Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates destined for West Africa, East Africa, South Africa, Mozambique and several Indian Ocean island markets.