Indigenous shipowners have called on major cargo owners, including the Dangote Group, among others, to support local fleet development by offering long-term Contracts of Affreightment for petroleum products, cement, fertiliser and other bulk cargoes.
The shipowners said cargo is the foundation of shipping, and predictable cargo contracts are what make vessel financing and acquisition possible.
The call was made by a former Nigeria Chapter President of the African Shipowners Association and Group Managing Director of Seamate Maritime Integrated Services Limited, Capt. Ladi Olubowale, at a Public-Private Dialogue with CEOs organised by the Nigerian Chamber of Shipping in Lagos recently.
The dialogue, themed ‘Unlocking efficiency in the marine and blue economy value chain’, brought together industry stakeholders, including Mr Edwin Devakumar, Group Vice President of Dangote Group (Oil and Gas), as guest CEO.
Olubowale explained that Nigeria’s maritime strategy must move beyond debates about vessel ownership to “creating commercial conditions that
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