Business – Page 4 – Shipping World News Magazine

Nov282017 by Our EditorNo Comments

16 Companies In INTELS-Operated Free Trade Zone Deregistered

The Oil and Gas Free Trade Zones Authority (OGFZA) has deregistered a total of 16 companies operating in the zones under the concession of INTELS Nigeria Limited, the company whose contract for ship pilotage was recently revoked by the federal government. However, the companies are said to have voluntarily applied to withdraw from the trade zones following the lull in business activities even before the face-off between the federal government and Intels. According to the OGFZA, the application for de-registration between March and April 2017, saying that the current feud has no connection with the exit of the affiliate OGFZA maintained that companies under the zone indicated interest to leave due to lull of economic activities in Nigeria and the authority is currently engaging INT...

Nov222017 by Our EditorNo Comments

Seme Customs Command Rakes in N5.3b in 10 Months

Business

By Sylvanus Ekpo The Nigeria Customs Service, Seme Command, generated a total of N5.3 billion between January and October, 2017 in spite of the downturn in the economy through the Lagos Abidjan Corridor. Also, 23 persons are undergoing trial for various offenses. Making the claims recently, the Comptroller of the command, Mohammed Aliyu, said the command used the collaborative anti-smuggling approach with other security agencies to dislodge and ground the activities of economic saboteurs. In turn, the command witnessed the decline in smuggling in the Seme border axis while there was a corresponding increase in revenue generation. He stated that the anti-smuggling unit made a total of 469 seizures with a Duty Paid Value (DPV) of N508, 469, 776.00 for the period under review. In...

Nov222017 by Our EditorNo Comments

NPA: Port reform without road reform

Business, Port News

by Sylvanus Ekpo These are not the best of times for the Nigerian Ports Authority, NPA. It is no longer news that the port access roads at Apapa and Tin Can Island ports are in a terrible state of disrepair. According to the Port Act of 1954 as amended, section 32 mandates the NPA to regulate traffic that is moving in and the one which is approaching but over the years, due to executive recklessness, the access roads were allowed to decay and today they have become an embarrassment to everybody, a congenital eyesore in the face of our port concession. Before the ports were concessioned in 2006 to private terminal operators by government, the NPA had a yearly throughput of 35million tons of cargo, a figure that could hardly be managed then. But, after the concession in March 2006, the...

Nov202017 by Our EditorNo Comments

IMO Council: Nigeria Woos Foreign Diplomats For Nigeria’s Election

Business, Press Release

…Says NIMASA Has Put Nigeria High to Win Council Seat In a bid to ensure that Nigeria wins the re-election into one of the highest decision making body of the International Maritime Organization (IMO), an arm of the United Nation (UN) responsible for global maritime regulation, the Minister of Transportation Rt. Hon. Rotimi Amaechi and the Minister of Foreign Affairs, Mr. Geofrey Onyema has called on all Heads of Foreign Missions to support the country’s quest as it seeks election into the Category C of the IMO Council. Speaking at the Cocktail Dinner in honour of Foreign Missions organized by the Federal Ministry of Transportation and the Federal Ministry of Foreign Affairs at the yesterday in Abuja, Mr. Onyema said that as a key player in the global maritime industry, Nigeria has playe...

Nov202017 by Our EditorNo Comments

Apapa Gridlock Conduit Pipe for Extortion By Taskforce – Survey

Breaking News, Business, Law, Maritime, Port News

Backdropped against the decision by the Lagos State government to institute a joint security task force, it has become apparent that some selfish personnel are taking advantage of their new status to extort the people. As trailers and tankers jostle for space to inch towards the ports or tank farms, a syndicate operating within the "chaotic axis" is busy extorting money from the drivers to pay their way through the logjam. Investigations carried out by Shipping World reveal that drivers pay as much as #50,000 to #100,000 to be allowed to shunt the queue and head straight under escort into the port for business. This often takes place at night when Lagos is asleep. It is not clear if this syndicate has the backing of the authorities in Alausa but there are concerns that the unsav...

Nov162017 by Our EditorNo Comments

INTELS: The End of the Road

Breaking News, Business, Law, Maritime, Opinion, Politics

by Sylvania Ekpo The sledgehammer seems to have come down hard on the integrated logistics limited, Intel's and her subsidiaries with the revocation of the residence permits of their expatriate staff by the federal government. According to a statement by the Nigeria immigration service, NIS, the decision was taken after the Oil and Gas Free Zones Authority, OGFZA, withdrew the operational licence. The affected staff are expected to leave Nigeria by November 30, 2017 failing which they might be deported by the ministry of interior. Intels, a company owned by the former vice-president and chieftain of the All Progressive Congress, Atiku Abubakar, was in the news early in October when it was reported that the Nigerian Ports Authority (NPA) had terminated its pilotage contract in Onne, ...

Nov162017 by Our EditorNo Comments

Ports: FG, Lagos Set Up New Joint Task Force to Address Apapa Gridlock

Business, Law, Maritime, Politics

As Apapa local government seeks partnership with NIMASA on tackling logjam The federal government and the Lagos state government Wednesday set up a new Joint Security Task Force that will tackle the Apapa gridlock. This was as the state government hinted of plans to enforce the 2012 Lagos Road Traffic Law. The new move followed the current menace of tankers and trucks that have made traffic unbearable for residents and people doing business in Apapa. The decision to set up a Task Force was reached during a Security Council meeting held Wednesday and chaired by the state governor, Mr. Akinwunmi Ambode. Among those who attended the meeting were Lagos Commissioner of Police, Mr. Imohimi Edgal: Commander of Ikeja Cantonment, Brig Gen. Elias Attu; Commander of NNS Beecroft, Commodore...

Nov162017 by Our EditorNo Comments

Ten Bulker Crew Members Saved from Pirate Hands off Nigerian Coast

Business, Law, Maritime

Armed pirates boarded a drifting bulk carrier around 17 nautical miles south-southwest (SSW) off Bonny Island, Nigeria on November 11 and kidnapped ten of its crew members. The pirates reportedly entered the bridge and fired their weapons damaging the bridge windows. “They stole ship’s properties, crew personal belongings, kidnapped 10 crew and escaped in their boat,” according to a report from ICC IMB. The UK-flagged bulker has been identified as the 2012-built Venus Bay owned by Pioneer Marine, but the company is yet to confirm the attack to World Maritime News. As informed, the ship was on its way toward the Nigerian port of Onne when the attack occurred. Due to a prompt reaction from two Nigerian navy vessels, the pirates were intercepted and the kidnapped crew released...

Nov162017 by Our EditorNo Comments

I-N-C-R-E-D-I-B-L-E! Senate Holds on to Customs 2015, 2016, 2017 Budgets

Breaking News, Business, Maritime

The seeming face off between the Nigerian Senate and Customs helmsman Hameed Ali is taking a huge toll on anti smuggling drive and revenue generation efforts of the Nigerian Customs Service. And this may further hamper the ease of doing business at the ports. This has led to deliberate refusal of the Senate to appropriate capital funds to the agency which is the reason there is a shortfall in anti smuggling patrol vehicles and functional scanners at the nation's major entry points among other essential needs of the agency. The Nigerian Customs Service is the third highest revenue earner for the country. Hameed Ali and the Senate have been engrossed in an ego war for almost two years now on account of the Customs Chief refusing to appear in the red chambers donned in Customs uniform. ...

Nov12017 by Our EditorNo Comments

Customs Storm Auto Shops in Ikoyi, FESTAC, Seize Bullet Proof Cars, Others

Business, Law

Men of the Federal Operations Unit of the Nigeria Customs Service Ikeja weekend took their fight against Car smugglers to the door steps of auto dealers when it raided auto marts in Festac and Ikoyi , Lagos . By the time the Operation was done 59 assorted vehicles with over 40 of them 2017 models were impounded. Customs helmsman of FOU Ikeja, Uba Muhammed who briefed journalists in Lagos Wednesday said the vehicles included Toyota Prado jeeps, Lexus jeeps, Toyota hilux, Toyota Camry , Toyota Camry and Hiace buses, among others. The cars are valued at over N1b. He said the car dealers have a one month period of grace to show proof they were not smuggled into the country through our land borders. Importation of vehicles through Nigeria's land borders is prohibited. Mohammed said some o...