Sunday, February 5Nigeria's Authoritative Maritime News Magazine
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Tag: shipowners

Indigenous Shipowners May get NNPC, NIMASA Nod To Lift Crude

Indigenous Shipowners May get NNPC, NIMASA Nod To Lift Crude

Breaking News, Business, Maritime
… As Dakuku Champions New Trade Terms to Boost Indigenous Shipping … Kachikwu, Baru Weigh Options Shipowners and other stakeholders in the maritime sector are on the verge of getting the desired change in trade terms from Free On Board (FOB) to Cost Insurance and Freight (CIF) which would enable them to begin to lift Nigeria crude and ultimately boost indigenous capacity. This new encouragement was a fall out from the stakeholders’ engagement on changing Nigeria’s crude oil affreightment trade term from FOI to CIF which was organised by Nigerian National Petroleum Corporation (NNPC) and the Nigerian Maritime Administration and Safety (NIMASA) held on Tuesday at the NNPC towers in Abuja. The Minister of State For Petroleum Dr. Ibe Kachikwu who declared the event open welcomed the de...
Full Text of Engr. Ogbeifun’s Address At Shipowners Dinner Night

Full Text of Engr. Ogbeifun’s Address At Shipowners Dinner Night

Business, Maritime
OPENING ADDRESS BY MR. GREG OGBEIFUN PRESIDENT, SHIPOWNERS ASSOCIATION OF NIGERIA (SOAN) ON THE OCCASION OF THE ALL SHIPOWNERS WORKSHOP AND DINNER PROTOCOL- RECOGNITIONS The events at the recent International Maritime Organization (IMO) elections into Category C of the Council where Nigeria lost and actually came second to the last position underscores the importance and urgency of the theme of this end of year Workshop and Dinner “Giving a Critical Lifeline to the Nigerian Maritime Industry”. Our performance at that election has dealt a hard blow on our psyche as a maritime nation. The world has told us that our maritime domain is sick and almost moribund, that we are not a maritime nation that can be relied on for maritime trade, maritime security, maritime infrastructure or ...
$100 billion Ship building Fund: Ship Owners may drag Amaechi before Buhari

$100 billion Ship building Fund: Ship Owners may drag Amaechi before Buhari

Breaking News, Business, Maritime, Opinion
The Nigerian Ship Owners Association (NSOA) is set to drag the Transportation Minister, Rotimi Amaechi, before President Muhammad Buhari over the refusal of the Nigerian Maritime Administration & Safety Agency (NIMASA) to commence the disbursement of the Cabotage Vessel Financing Fund (CVFF). The end of year dinner of the NSOA last week in Lagos almost degenerated into a brawl when Engr. Greg Ogbeifun challenged the minister to show them where he derived his powers to hold back the CVFF. The funds are about $100 billion. At the dinner, Amaechi had boasted that as long as he remained the minister of transportation, not one Kobo of the CVFF would be disbursed. The CVFF currently domiciled in NIMASA has become an issue of controversy as successive managements in the agency have ...
Amaechi, Ship Owners Fight Dirty over N100b Vessel  Financing Fund

Amaechi, Ship Owners Fight Dirty over N100b Vessel Financing Fund

Breaking News, Business, Maritime
The Minister of Transportation, Rotimi Amaechi on Thursday announced that he will not disburse the Cabotage Vessel Financing Fund (CVFF), dashing the hopes and expectation of indigenous ship owners, who have been waiting for the disbursement of the fund for more than a decade. This is even as the ship owners demanded the sack of Dakuku Peterside as Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) for his incompetence in running the affairs of the agency. Amaechi told a gathering of ship owners and key stakeholders who converged at a workshop and dinner organized by the Ship Owners Association of Nigeria (SOAN) that as long as he remains the minister, the fund will not be disbursed. The CVFF which currently stands at over $100billion was created solely...