The traditional model of ‘bridge port’ for Las Palmas, focused on the transshipment of goods to and from Western Africa, is being irreparably eroded. The increasing investment and autonomy of African ports is forcing the Canary hub to undergo a painful but necessary redefinition of its role in the Atlantic supply chain. The financial survival of the port will now depend on its ability to transform into a center for technical services, ship repairs, and high-end green bunkering.
The competition from Tanger Med is not an isolated case. Several ports in Western Africa are emerging as self-sufficient megahubs thanks to massive injections of Chinese, Arab, and major global shipping company capital. Lomé (Togo), Lekki (Nigeria), and Tema (Ghana) are developing terminals with capacities for container ships of up to 18,000 TEUs. These ports have shifted from relying on Las Palmas as a feeder hub to making direct connections with Asia and Europe, eliminating the need for intermediate stops in the Canaries.
This self-development diverts traffic that historically generated port fees and handling revenue for Las Palmas, forcing the port to seek less volatile business sources than pure transshipment. In light of the decline in container share, the only way forward for Las Palmas is to consolidate its high-profit and low-competition sectors in Africa: the ship repair sector is a robust and high-value-added pillar.
Key companies in the port demonstrate the financial health of this niche: Zamakona closed 2023 with sales of 21.49 million euros and a total asset of over 31 million euros, with steady growth in recent years. This business not only generates direct income but also qualified and long-term employment, being a service that requires the technological infrastructure that African ports still cannot replicate. The port of Las Palmas is crucial for the fishing and offshore (oil and wind) fleet operating in Western Africa, offering the only EU-certified repair service with legal certainty in the Central Atlantic.
The ambition is to consolidate Las Palmas as the primary LNG bunkering point and, in the future, for green hydrogen in the Atlantic. In 2024, the port already broke fuel supply records, exceeding 2.6 million tons, a financial business of provisioning that will continue to grow with the decarbonization of the global fleet. The imperative for Las Palmas is clear: stop competing on price and volume with African massiveness and focus on quality, technology, and EU regulatory backing, thereby ensuring its financial and strategic relevance on the global logistics map.
