Transnet group CEO Portia Derby has hit back at critics who may feel Transnet should accede to union demands simply to end the 'rough' strike, stressing that it is crucial to ensure the state-owned freight and logistics company remains sustainable.
Members of the SA Transport and Allied Workers' Union and the United Transport and Allied Trade Union gather outside the Transnet Building in this file photo.Almost a week since organised labour declared a dispute with Transnet over wage negotiations, group CEO Portia Derby insists the entity's sustainability must come first.
"We cannot have labour being 66% of our cost. The next big cost driver on our side is interest cost, followed by electricity and fuel costs," Derby said at the Agri SA annual congress in Pretoria on Thursday. "On average, South Africa exports about 476 000 tonnes of bulk minerals a day worth R1.06 billion. We estimate that [at present] just 120 000 tonnes of minerals worth R261 million are being exported daily. Major mineral export harbours are operating at between 12% and 30% of their daily averages."
"Ports are strategic assets of SA. Logistic activities like exports must continue without interruptions," says the exporter. "Any delays will slow down getting SA berries on to retail shelves in export markets. Berries are highly perishable and cold chain storage in Cape Town is going to come under a lot of pressure if there are significant delays," says Walsh."We are waiting with bated breath to hear about the outcome of Transnet wage negotiations."A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
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