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General News Maritime/Shipping

Fears of global trade disruptions as Baltimore bridge collapses

Baltimore (U.S), March 27, 2024 – Fears have been raised of significant disruption to global supply chains after a container ship crashed into a bridge in the US city of Baltimore. The ship, named the Dali, hit a support column of the Francis Scott Key Bridge in the early hours of Tuesday morning, causing it to collapse. The bridge spanned the entrance to the Port of Baltimore, the busiest port in the US for car exports and the ninth-busiest overall. Six people are missing presumed dead. The US Coast Guard …

General News Maritime/Shipping

Baltimore’s Key Bridge collapses after ship collision

Baltimore (U.S.), March 26, 2024 – The Francis Scott Key Bridge, a major span critical to East Coast shipping, collapsed early morning Tuesday after it was struck by a large cargo ship. The incident prompted a massive emergency response for at least seven people in the water. James Wallace, the Chief of the Baltimore City Fire Department, said at a news conference that around 1:30 a.m. a vessel struck the Key Bridge in Baltimore, causing the collapse. Several vehicles were on the bridge at the time of impact and were …

General News Maritime/Shipping Money market

Tony Elumelu Foundation announces 10th Cohort of Entrepreneurship Programme – 20,000 entrepreneurs funded across Africa

10th Cohort of the Tony Elumelu Foundation Entrepreneurship Programme Announced Over 50 business sectors from farming to technology represented. 20,000 entrepreneurs from 54 countries across Africa funded in 10 years – doubling original target Lagos, March 25, 2024 – The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs from all 54 African countries, has announced the successful entrepreneurs in its tenth selection for the TEF Entrepreneurship Programme. This new cohort brings to 20,000, the number of young African entrepreneurs who have received funding, mentoring, and capacity-building support …

Business Solutions Investment Maritime/Shipping

CPPE advises Customs to peg duty exchange rate at N1000/$

Lagos, Feb.  25, 2024 – The Centre for the Promotion of Private Enterprise (CPPE), a private sector think-tank,  on has advised the Central Bank of Nigeria (CBN) to peg the customs duty exchange rate at N1000/$ for the rest of the year.  It said this would be in line with the Federal government’s commitment to ease the current hardships on the citizens and the burden on businesses. Muda Yusuf, its Director- General, said on Sunday that the centre welcomed CBN’s decision to approve the use of the exchange rate reflected …

Business Solutions Maritime/Shipping Oil and Gas

Oil Theft: Reps to collaborate with Nigerian Navy to check losses

Abuja, Feb. 18, 2024 – The House of Representatives pans to collaborate with the Nigerian Navy on strategies to effectively police the pipelines and other critical assets in the oil and gas industry. Alhassan Ado Doguwa, the Chairman of the House Special Adhoc Committee on Crude Oil Theft and Losses, made the appeal during a visit to the Nigerian Navy. He appealed to the Nigerian Navy to provide relevant information to assist in uncovering those responsible for the ongoing theft of the country’s crude oil. Doguwa assured that information obtained …

Maritime/Shipping

Fidelity Bank supports Temile Development Company to boost Nigeria’s gas revenue

Lagos, Jan. 31, 2024 – Temile Development Company Ltd, an indigenous player in the oil and gas industry, recently inaugurated a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) Carrier. The project has been termed as a significant milestone in the advancement of Nigeria’s domestic gas industry and the generation of gas revenues. Named ‘Alfred Temile 10’, the vessel was part-financed by Fidelity Bank Plc, a leading Nigerian bank, and was inaugurated at the Hyundai Mipo Dockyard in Ulsan, South Korea. Dignitaries at the event included the Group Chief Executive …

Maritime/Shipping

First LNG-powered vessel berths at Lekki Deep Seaport

Lagos. Jan. 29, 2024 – The first LNG-powered container vessel to berth in Nigeria, the CMA CGM SCANDOLA, arrived at the Lekki Deep seaport on Monday. The vessel, boasting of 14,812 TEUs, is also the first LNG-powered vessel to navigate to West Africa Its historic arrival was witnessed by Gov. Babajide Sanwo-Olu of Lagos State and other stakeholders. Jubril Gawat, the Senior Special Assistant to Governor Babajide Sanwo-Olu on New Media, disclosed this on his official X page. He wrote: “The CMA CGM SCANDOLA has an overall length (LOA) of …

Maritime/Shipping

Lekki Port receives biggest sea vessel

Lekki (Lagos), Jan. 22, 2024 – The Lekki Deep Sea Port, the deepest sea port in Nigeria, received the biggest sea vessel in the world, Maersk Edirne, on Sunday.  The vessel, with a capacity of 13,092 TEUs (twenty-foot equivalent unit) , arrived at the Lekki port at about 14:42 hours. Biodun Dabiri, the Chairman of Lekki Port, said that Lekki Port had elevated Lagos State and Nigeria on the international maritime scene. He said its modern facilities and world-class equipment enabled the port to accommodate such a large vessel. Dabiri …

Maritime/Shipping

NIMASA, MWUN dialogue on fate of disengaged NNSL seafarers

Lagos, Dec. 7, 2023 – The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Maritime Workers Union of Nigeria (MWUN) have begun discussions on how to resolve the lingering issue of terminal benefits of seafarers whose appointments were terminated due to the liquidation of the defunct Nigerian National Shipping Line, NNSL. Dr Bashir Jamoh, the Director General of NIMASA, and Comrade Adewale Adeyanju, the Vice President of the Nigerian Labour Congress who is also the President General of the Maritime Workers Union of Nigeria, jointly announced an agreement for physical verification of the affected seafarers/next of kin as the …

Maritime/Shipping

NIMASA signs performance bond with Ministry of Marine and Blue Economy

Lagos, Nov. 24, 2023 – Dr Bashir Jamoh, the Director General of the Nigerian Maritime Administration and Safety Agency, has signed a performance bond on ministerial deliverables for 2023-2027 with the Ministry of Marine and Blue Economy. Adegboyega Oyetola, the Minister of Marine and Blue Economy, supervised the NIMASA bond signing ceremony at a ministerial retreat in Lagos on Thursday. He urged the management of NIMASA to key into the vision of the ministry in achieving its mandate as set by President Bola Tinubu. “This document will drive our carefully thought-out strategies and …