Transnet swings back into profit as it posts first unqualified results since 2018

[Polymathic]

Transnet makes profits?
What timeline is this?

 

[sefeddt]

One of the guys I cycle with works for Transnet, he claims if he wants a days rest from chores and home maintenance he goes to work to relax.

 

[Phylax]

Despite ‘clever accounting’, Transnet still operational mess – Ghaleb Cachalia - POLITICS | Politicsweb

DA MP says Gauteng fuel pipeline breach is now at crisis point

www.politicsweb.co.za

While Transnet may have succeeded in turning a profit through an accounting smoke and mirrors, its operational capabilities continue to deteriorate markedly across the board. Independent estimates indicate that the vital Gauteng fuel pipeline has been breached 9 times in the past 19 days.

 

[ForceFate]

One of the guys I cycle with works for Transnet, he claims if he wants a days rest from chores and home maintenance he goes to work to relax.

He's part of the problem...I guess.

 

[Baise]

Despite ‘clever accounting’, Transnet still operational mess – Ghaleb Cachalia - POLITICS | Politicsweb

DA MP says Gauteng fuel pipeline breach is now at crisis point

www.politicsweb.co.za

While Transnet may have succeeded in turning a profit through an accounting smoke and mirrors, its operational capabilities continue to deteriorate markedly across the board. Independent estimates indicate that the vital Gauteng fuel pipeline has been breached 9 times in the past 19 days.

There are a couple of Spill Cleaning companies that are making a killing off of this.
The clean up and rehabilitation costs run into millions per job.

 

[surface]

@TheChamp - Is it same AG who gave unqualified audits to DA municipalities or is it her corrupt avatar who can be bribed?

There seems to be some doubt in cadres here, hence the question.

 

[surface]

He's part of the problem...I guess.

I also have some stories but need to recall them. I will be back soon.

 

[sefeddt]

He's part of the problem...I guess.

No. He is not management, there is nothing for him to do, trains have long since ceased to run on the route he works. Twiddle his thumbs. ??

 

[ForceFate]

Just for P/R bots who claim twitter bias. This from pro Ukraine twitter. Challenge now is to show Pro Russian doing similar and showing one of their own.

No. He is not management, there is nothing for him to do, trains have long since ceased to run on the route he works. Twiddle his thumbs. ??

 

[surface]

There are a couple of Spill Cleaning companies that are making a killing off of this.
The clean up and rehabilitation costs run into millions per job.

These BEE companies keep on getting richer , ne.

 

[airborne]

Despite ‘clever accounting’, Transnet still operational mess – Ghaleb Cachalia - POLITICS | Politicsweb

DA MP says Gauteng fuel pipeline breach is now at crisis point

www.politicsweb.co.za

While Transnet may have succeeded in turning a profit through an accounting smoke and mirrors, its operational capabilities continue to deteriorate markedly across the board. Independent estimates indicate that the vital Gauteng fuel pipeline has been breached 9 times in the past 19 days.

What quantity of fuel is generally siphoned off with each breach?

I've seen a few incidents in Nigeria I think it was where the pipe breach caught on fire and all the perps got roasted toasty.

 

[Vrotappel]

"profit"

 

[konfab]

No. He is not management, there is nothing for him to do, trains have long since ceased to run on the route he works. Twiddle his thumbs. ??

Then your friend should be given an option to either go somewhere else in the company where is work is needed, or given a severance package and get told to work somewhere else.

 

[sefeddt]

Multi posting has it hazards.

 

[Calkem]

What quantity of fuel is generally siphoned off with each breach?

I've seen a few incidents in Nigeria I think it was where the pipe breach caught on fire and all the perps got roasted toasty.

It depends, they were some instances whereby these criminals would purchase a 1-2 hectare plot wherein the pipe runs and build a 3-metre high wall and pump diesel from the line for over a month, about 1 million litres will flow out (R25 mill) in that month. To a lesser extent criminals syndicates will carry out a hit-and-run, they would overnight tap into the line load 3-5 tri-axles (120 000 litres) and head off. Now the major problem would be that the syndicates wont shut off the pipes after getting their fill, so you have 100 000's of fuel spillage until it is reported/detected. They is also losses from Tarlton with siphoning, heck even at the Durban BP terminal years ago.

These losses are a major loss, Transnet is insured, but the larger losses is with smuggled fuel which is huge from the Mozambique's Ressario Garcia port and the independent importers at Richards Bay, this is were now we loose millions of tax revenue per day. Another thing again goes to show that a Transnet "profit" is just a scam, you have the major "refineries" who ship fuel via road at over 250% more than the pipeline. Transporters like Wardens Cartage has been bringing fuel in to the hinterland for years now via road all again due lack of capacity with TPT.

 

[Pegasus]

Grindrod have reported some actual good results. Not fiddled.

They actually use Mozambique because of Transnet incompetence.

Grindrod to triple capacity of Mozambique port as SA coal exporters avoid Transnet logjam - Miningmx

AN increase in coal deliveries for export from South Africa is behind plans by Johannesburg-listed logistics operator Grindrod wanting to triple capacity at its drybulk port terminals in Mozambique, said Bloomberg News. Mozambique has become a destination for South African coals because the...

www.miningmx.com

AN increase in coal deliveries for export from South Africa is behind plans by Johannesburg-listed logistics operator Grindrod wanting to triple capacity at its drybulk port terminals in Mozambique, said Bloomberg News.

Mozambique has become a destination for South African coals because the country’s own exporting infrastructure is plagued by disruption. Some of the disruption is caused by inefficiencies in the way the state-owned Transnet operates the coal lines and port, but it is also a consequence of vandalism and sabotage of state infrastructure.

Capacity at Grindrod’s wholly-owned terminal at the Maputo port, Mozambique’s biggest, will grow to 4.5 million tons (Mt) annually by the end of June from 1.5Mt, said Bloomberg News. Capacity at its 65%-held Matola coal terminal will increase to 12Mt yearly from the current 7.3Mt “in the short to medium term,” Grindrod said on its website.


Mozambique has its own challenges, the newswire said. Trucks crossing the South African border to Mozambique at times can wait up to three days in queues of more than 15 kilometers (about 9 miles) long, it said. “Critical to both projects is unlocking road and rail bottlenecks along the corridor,” Grindrod said.

The Richards Bay Coal Terminal (RBCT) said in January that 2021 coal exports of 58.7Mt were the lowest since 1996. It had planned to export 18Mt more for the year.

Mxolisi Mgojo, CEO of Exxaro Resources which is one of South Africa’s largest coal exporters, described Transnet has having “one of worst export rail performances for the industry”.

 

[wingnut771]

but everything is fine coz the AG said so.

 

[Oldfut]

These BEE companies keep on getting richer , ne.

Maybe but the spill guys I know are not BEE (but are doing most excellently due to Transnet pipe bursts, theft and the KZN riot + floods clean up ongoing), well unless they are as far as Transnet sees. Say no more.

 

[Calkem]

Grindrod have reported some actual good results. Not fiddled.

They actually use Mozambique because of Transnet incompetence.

Grindrod to triple capacity of Mozambique port as SA coal exporters avoid Transnet logjam - Miningmx

AN increase in coal deliveries for export from South Africa is behind plans by Johannesburg-listed logistics operator Grindrod wanting to triple capacity at its drybulk port terminals in Mozambique, said Bloomberg News. Mozambique has become a destination for South African coals because the...

www.miningmx.com

AN increase in coal deliveries for export from South Africa is behind plans by Johannesburg-listed logistics operator Grindrod wanting to triple capacity at its drybulk port terminals in Mozambique, said Bloomberg News.

Mozambique has become a destination for South African coals because the country’s own exporting infrastructure is plagued by disruption. Some of the disruption is caused by inefficiencies in the way the state-owned Transnet operates the coal lines and port, but it is also a consequence of vandalism and sabotage of state infrastructure.

Capacity at Grindrod’s wholly-owned terminal at the Maputo port, Mozambique’s biggest, will grow to 4.5 million tons (Mt) annually by the end of June from 1.5Mt, said Bloomberg News. Capacity at its 65%-held Matola coal terminal will increase to 12Mt yearly from the current 7.3Mt “in the short to medium term,” Grindrod said on its website.


Mozambique has its own challenges, the newswire said. Trucks crossing the South African border to Mozambique at times can wait up to three days in queues of more than 15 kilometers (about 9 miles) long, it said. “Critical to both projects is unlocking road and rail bottlenecks along the corridor,” Grindrod said.

The Richards Bay Coal Terminal (RBCT) said in January that 2021 coal exports of 58.7Mt were the lowest since 1996. It had planned to export 18Mt more for the year.

Mxolisi Mgojo, CEO of Exxaro Resources which is one of South Africa’s largest coal exporters, described Transnet has having “one of worst export rail performances for the industry”.

How is the coal getting to Matola?

This is not good news for you, maybe for me and Grindrod, but not for you. I know those the guys there at Grindrod, I have them on contract, Phillip and them, even back when it was still called Sturrock, the country benifits nothing. One gets 6-7 trips per week, per truck to Richards Bay or Durban and only 2 trucks to Matola, the productivity you get from the truck 2 loads a week is nothing, it used to be 1 (one) trip a week, now you tell me per truck, what profit you make from that. It's a overall loss for SA Inc.