The ship and boat manufacturing industry in South Africa has a great opportunity to supply and service sub-Saharan Africa with working vessels as required by State agencies for various activities, Trade and Industry Minister Dr Rob Davies said on Friday.

Speaking at the naming ceremony of the new multimillion-rand composite floating dock, held at the Dormac ship-repair facility at the Port of Durban, he pointed out that about 12 000 ships call at South Africa’s ports each year, while over 30 000 vessels sail along the South African coastline every year.
 
“The ship repair industry is estimated at above R1-billion in Durban in normal trading conditions. This is with all docks well maintained and working as well as all other challenges addressed. Dormac 1 will go a long way towards meeting the demand for ship repair in South Africa’s busiest harbour,” he added. 
 
He said the ultimate goal was to boost, grow and industrialise the economy and to create employment.

He added that South Africa’s maritime economy could generate an estimated gross domestic product contribution of R129-billion to R177-billion by 2033, and create 600 000 jobs.
 
“South Africa is ideally positioned to serve the East–West cargo traffic and the booming African offshore oil and gas industry, through marine manufacturing, which includes ship and rig repair, refurbishment and boatbuilding.

“Despite this competitive advantage, we currently capture only 1% of the global market of ship repair and refurbishment,” said Davies.
 
The Department of Trade and Industry (DTI) had, through its 12i Income Tax incentive, supported the Dormac 1 construction with R160-million. The project cost R290-million.
  
Dormac MD Chris Sparg said the DTI's support made it possible for his company to undertake this venture.
 
“The DTI recognised the enormous value and potential impact on job creation, skills development and energy efficiency programmes and for that we are most grateful,” he added.