Nigeria: Shipowners call on Dangote, others to support domestic fleet development
Nigerian indigenous shipowners have renewed their call for major cargo owners, particularly the Dangote Group, to support domestic fleet development through long-term Contracts of Affreightment (CoAs) covering petroleum products, cement, fertiliser and other bulk commodities. The shipowners hinged their call on the principle of shipping economics: cargo creates trade, trade supports financing,…
Nigerian indigenous shipowners have urged major cargo owners, notably the Dangote Group, to aid domestic fleet development through long-term Contracts of Affreightment (CoAs) for petroleum products, cement, fertiliser and other bulk commodities. Captain Ladi Olubowale, former president of the Nigerian chapter of the African Shipowners Association, emphasized during a Public-Private Dialogue that shipping follows cargo, and long-term CoAs are essential to financing, acquiring and deploying vessels.
He proposed that Dangote Group, with its expanding refinery, cement, fertiliser and industrial operations, could support Nigerian fleet development by allocating portions of its maritime cargo to qualified indigenous shipping companies under structured CoAs. Olubowale also highlighted the ongoing use of foreign-controlled vessels for transporting Nigerian crude and petroleum cargoes to Nigerian terminals.
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