Nigeria: Shipowners call on Dangote, others to support domestic fleet development

AI Summary

Nigerian indigenous shipowners are urging major cargo owners like the Dangote Group to support domestic fleet development through long-term contracts of affreightment. They emphasize that consistent cargo flow underpins trade financing and fleet growth in sectors including petroleum, cement, and fertilizer commodities.

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, and predictable cargo ...