INVESTMENT OPPORTUNITIES IN THE NIGERIAN MARITIME SECTOR A PAPER PRESENTATION BY
|
|
- Agnes Dalton
- 5 years ago
- Views:
Transcription
1 INVESTMENT OPPORTUNITIES IN THE NIGERIAN MARITIME SECTOR A PAPER PRESENTATION BY 1 MR. HASSAN BELLO EXECUTIVE SECRETARY/CEO NIGERIAN SHIPPERS COUNCIL CHAIRMAN NIGERIAN FLEET IMPLEMENTATION COMMITTEE AT THE NIGERIAN MARITIME SUMMIT AT MARLBOROUGH HOUSE, LONDON ON WEDNESDAY 28 TH SEPTEMBER, 2016
2 OUTLINE OF THE PRESENTATION 2 General Overview of the Nigerian s Maritime Sector Nigeria as an Import and Export Economy The establishment and demise of Nigerian National Shipping Line Present Government Initiative in Establishing National Carrier in Nigeria Available Investment Opportunities in the Nigerian Maritime Sector Conclusion
3 INTRODUCTION It is a privilege and my pleasure to be in your midst to make this presentation on the investment opportunities in the Nigerian Maritime Sector. 3 The Maritime Environment will continue to be a veritable medium of transportation, global commerce resource exploitation and recreation. It would continue to remain relevant for the economic prosperity and development of most nations because of its huge marine ecosystem and abundant mineral resources.
4 GENERAL OVERVIEW OF THE NIGERIAN MARITIME SECTOR Nigeria covers a total of 923,768 square kilometres with a land area of 910 square kilometre and a coastline of 853 kilometres and inland waterways totalling 8,575 kilometres. 4
5 GENERAL OVERVIEW CONTINUE 5 This therefore implies that Nigeria s maritime environment will remain attractive due to the potential of her maritime sector for socio-economic development. Nigeria is a leading Maritime nation with enormous natural maritime resources and a major hub for local and international trade in Africa, contributing significantly to Gross domestic product (GDP) with annual contribution to GDP of about 15 Billion USD as reported in 2013 which is second to oil and gas sector.
6 GENERAL OVERVIEW CONTINUE In recent years the sector has been witnessing a lot of reforms to position it in order to achieve efficiency, growth and overall developmental objective of government in the sector and the economy? 6 The following are the major players in the Nigerian Maritime Sector 1. Ship owners 2. Port/Terminal Operators 3. Shipping Services Providers 4. Freight Forwarders/handlers 5. Regulatory Agencies e.g. Nigerian Shippers Council (NSC) Nigerian Ports Authority (NPA) Nigerian Maritime Administration and Safety Agency (NIMASA)
7 GENERAL OVERVIEW CONTINUE Nigeria Custom Service (NSC) National Agency for Food and Drug Administration and Control (NAFDAC) Standards Organisation of Nigeria (SON) 6. Service; Federal Ministry of Transportation and Federal Ministry of Finance 7. Financial Institutions e.g. Banks and Insurance companies It is pertinent to note that Nigeria s desire to have a large, strong, sustainable and competitive economy will depend largely on its ability to harness the potentials of its maritime sector for sustainable economic development. 7
8 The Establishment And Demise of Nigerian National Shipping Line (NNSL) 8 The Nigerian National Shipping Line (NNSL) was established by the Nigerian government in 1957 at first 33% of the capital was from Elder Dempster line and 16% by palm line, both British companies while Nigerian government held 51%. In 1961, the Nigerian government acquired all the shares. The NNSL started operations in 1959 with 3 vessels. Nigerian seamen Who were employed by British Shipping Companies in the colonial era Moved to work for the NNSL and by 1964 had grown to 16 vessels. In 1977 the Nigerian government ordered the construction of 19 new vessels and by 1979 NNSL had 24 oceangoing ships. It became an important source of training for seamen of the Nigerian Merchant Navy.
9 NNSL CONTINUE 9 In 1988 the 24 ships of Nigerian National Carriers including the NNSL took only 11% of the cargoes at Nigerian Ports. The NNSL due to a combination of financial and administrative issues could no longer attract cargo for her vessels. In the 1990s several of the company s vessels were seized in different port of the world for alleged breach of contract and unpaid bills.
10 NNSL CONTINUE 10 The NNSL was subsequently liquidated in September its assets were assumed by the newly formed National Unity Line (NUL). The NUL began commercial operations in July 1996 as Nigeria s National flag Carrier. In August 2005 the government put the NUL up for sale. Since then, Nigeria has no National Carrier despite her huge maritime activities.
11 NIGERIA AS AN IMPORT AND EXPORT ECONOMY 11 Prior to oil production, which surged after the 1970s, Agricultural production was the largest export sector for Nigeria. Later the country became largely oil-intensive economy, Agricultural sector took a back seat. Oil and natural gas are the most important export products for Nigerian trade. The country exports approximately million barrels per day according to 2015 OPEC figures, and in terms of total oil exports, Nigerian ranks 6 th in the world with a value of USD 38 Billion. Imports reached over US Dollar 42.1 billion this comprised mainly of machinery, heavy equipments, consumer goods and food products. A large portion of the imports are from the EU, particularly the Netherlands, the UK, France and Germany, China, the US and South Korea are also major import trade Partners with Nigeria.
12 PRESENT GOVERNMENT INITIATIVE IN ESTABLISHING NATIONAL CARRIER IN NIGERIA The present government has identified the need for development of Nigerian Fleet for active participation in international maritime trades mainly due to the following benefits: Massively support Nigeria s economic diversification drives Ensure the provision of employment to Nigerian seafarers Enhance Nigeria status in comity of maritime Nationals including membership of International Maritime Organization (IMO) Provide requisite training for Nigerian Seafarers The new initiative by the federal government is to establish a private sector driven National Carrier this will consist of international trading ships involved in dry/bulk cargo import/export and crude, Container and refined product affreightment 12
13 GOVERNMENT INITIATIVES CONTINUE The National Carrier will be a Joint Venture between Nigerian investors and foreign partners. 13 The federal government will provide support and enabling environment for the National Carrier in the following areas. 1. Enforce section 37 of Nigerian Maritime and Safety and Administration (NIMASA) Act which guarantees carriage of all government cargoes by the National Carrier. 2. Tax relief to the Joint Venture for a reasonable period between (5 to 10 years) 3. Exemption from import tax for vessels imported into Nigeria, registered in the Nigerian ship registry including vessel spare parts and equipment.
14 GOVERNMENT INITIATIVES CONTINUE Reduction of port dues for Nigerian flagged vessels. 3. Reduce delays in the process of obtaining regulatory approvals 4. Exemption from the payment of Sea Protection Levy for Nigerian flagged ships. 5. Government will encourage importers and exporters to patronise Nigerian registered vessels. 6. Government will carry out legislative reforms that will further support the sustainability of the National Carrier e.g. Attractive fiscal policies.
15 INVESTMENT OPPORTUNITIES IN THE NIGERIAN MARITIME SECTOR The robust activities in the sector and continuous growth premised on the above developments presents enormous opportunities for investors. For instance, the deregulation and liberalization of the Port Sector has given additional impetus for private initiatives in terminal operations. There is currently investment opportunity in the establishment of a National Carrier through Joint Venture with Nigerian Private Investors in wet and dry Cargo operation. Apart from terminal operations and shipping line another area of investment is in fleet acquisition. Vessels represent major segment of assets in the sector where tanker and cargo vessels are very popular. Due to the huge capital outlay involved in purchase of new vessels, some Nigeria investors buy used vessels and some new vessels will be needed for take off of the Nigerian Fleet. 15
16 INVESTMENT CONTINUE Investments There are also areas of investment in ancillary services such as Ship/Vessel Support Services which include: - coastal water transportation service - servicing oil platforms and driller of gas and oil. - supply of boats e.g. tug boats - ship building and repairs - medium and small fishing vessels - ship chandling - operating cable and pipeline laying vessels - shipping company agency. 16
17 INVESTMENT CONTINUE 17
18 INVESTMENT CONTINUE 18
19 CONCLUSION 19 Commonwealth nations trading with Nigeria should be invited to PATRONISE the emerging Nigerian Shipping Fleet in the afreightment of cargo between our two countries.
20 20 Thank you for your attention
OPPORTUNITIES FOR SRI LANKAN BOAT BUILDINGS IN NIGERIA
OPPORTUNITIES FOR SRI LANKAN BOAT BUILDINGS IN NIGERIA Prepared by: High Commission of Sri Lanka Nigeria February 2017 Opportunities for Sri Lankan Boat Builders in Nigeria Page 1 CONTENTS 1. SUMMARY...
More informationTHE MERCHANT SHIPPING (FEES AND TAXING PROVISIONS) LAW OF LAW No. 44 (I) OF 2010
DMS Version dated 15. 05.2010 Final THE MERCHANT SHIPPING (FEES AND TAXING PROVISIONS) LAW OF 2010 1 LAW No. 44 (I) OF 2010 Section 1. Short title. 2. Interpretation. 3. Delegation of powers and duties.
More informationThe Great Eastern Shipping Co. Ltd.
The Great Eastern Shipping Co. Ltd. 1 Forward looking information This presentation contains certain forward looking information through statements, which are based on management s current expectations
More informationCABOTAGE THE NIGERIAN PERSPECTIVE. Introduction
CABOTAGE THE NIGERIAN PERSPECTIVE Introduction Over the years, each country has sought to protect its citizens by restricting participation in key sectors of the economy to its citizens usually through
More informationANNEX II. Reservations for Future Measures. Schedule of Canada Explanatory Notes
ANNEX II Reservations for Future Measures Schedule of Canada Explanatory Notes 1. Canada s Schedule to this Annex sets out, pursuant to Articles 8.9.2 and 9.6.2, the specific sectors, sub-sectors, or activities
More informationLIMITED LIMITED 1. CETA Services and Investment Reservations Canada Federal Annex II 1 August 2014 Annex II. Schedule of Canada.
Annex II Schedule of Canada Aboriginal Affairs National Treatment (Articles and ) Market Access (Articles and ) Most Favoured Nation Treatment ( and ) Performance Requirements (Article ) Senior Management
More informationGuide to Cyprus Tonnage Tax System
Guide to Cyprus Tonnage Tax System GUIDE TO CYPRUS TONNAGE TAX SYSTEM Limassol, 2018 SHIPPING DEPUTY MINISTRY TO THE PRESIDENT REPUBLIC OF CYPRUS www.shipping.gov.cy 35 Navigating 33 Excellence A leading
More informationIntroduction of Taiwan Maritime Policy
Introduction of Taiwan Maritime Policy Yi-Chih Yang Associate Professor, Department of Shipping and Transportation Management, National Kaoshiung Marine University, Taiwan Content Development of Taiwan
More informationANNEX II. Schedule of Canada. Reservations for Future Measures
ANNEX II Schedule of Canada Reservations for Future Measures 1. The Schedule of a Party sets out, under Article 10.9 (Investment Reservations and Exceptions) and 11.7 (Cross-Border Trade in Services Reservations),
More informationShipping in Cyprus. July 2016
Shipping in Cyprus July 2016 Shipping in Cyprus Cyprus holds a leading role in the shipping industry and ship management activities in South East Europe and is considered to be as one of the most attractive
More informationBusiness Opportunities Maritime sector & Offshore industry Angola
CONFERENCE: Doing Business in Angola and Brazil 24 th October 2012 - Head Office KPMG Amstelveen Business Opportunities Maritime sector & Offshore industry Angola Marco Rensma Director-owner MEYS Emerging
More informationAustria, Czech Republic, Hungary, Luxembourg and Slovakia
Austria, Czech Republic, Hungary, Luxembourg and Slovakia An exhaustive analysis of employment trends in all sectors related to sea or using sea resources Country reports Landlocked EU countries: Austria,
More informationSEACOR HOLDINGS ANNOUNCES RESULTS FOR ITS SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2016
August 1, SEACOR HOLDINGS ANNOUNCES RESULTS FOR ITS SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, FORT LAUDERDALE, FL -- (Marketwired) -- 08/01/16 -- SEACOR Holdings Inc. (NYSE: CKH) (the "Company") today
More informationSri Lanka The hub of South Asia.
Sri Lanka The hub of South Asia SRI LANKA AT A GLANCE Capital (Commercial) Colombo Capital (Administrative) Sri Jayewardenepura Kotte Area 65,525 sq km Population 21,409,381 (July 2017 est.) Official Language
More informationJustin B. Yagerman J.P. Morgan Asset Management Global Maritime and Transport
CHARTING THE COURSE: Maritime s role in institutional portfolios Justin B. Yagerman J.P. Morgan Asset Management Global Maritime and Transport FROM THE LOOKOUT: GLOBAL MARITIME Workhorse of the Global
More informationBELGIUM. Positive effects resulting from the application and the integration of the Maritime State Aid Guidelines in the Belgian Shipping Policy
BELGIUM Positive effects resulting from the application and the integration of the Maritime State Aid Guidelines in the Belgian Shipping Policy a. Fiscal alleviation measures In 2002, Belgium introduced
More informationSEACOR Holdings Inc.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event
More informationMERCHANT SHIPPING ACT 1985
Statutory Document 421/98 MERCHANT SHIPPING ACT 1985 MERCHANT SHIPPING (ISM CODE) REGULATIONS 1998 Coming into operation :1 st July 1998 In exercise of the powers conferred on the Department of Trade and
More informationMaritime Rules Part 21: Safe Ship Management Systems
Maritime Rules Part 21: Safe Ship Management Systems ISBN 978-0-478-44731-6 Published by Maritime New Zealand, PO Box 25620, Wellington 6146, New Zealand Maritime New Zealand Copyright 2015 Part 21: Safe
More informationAnnex II - Schedule of Canada. Aboriginal Affairs
Annex II - Schedule of Canada Sector: Aboriginal Affairs Industry Classification: Type of Reservation: National Treatment (Articles 803, 903) Most-Favoured-Nation Treatment (Articles 804, 904) Local Presence
More informationINTERNATIONAL CHAMBER OF SHIPPING
INTERNATIONAL CHAMBER OF SHIPPING PRELIMINARY COMMENTS ON PROPOSED CHANGES TO THE OECD MODEL TAX CONVENTION DEALING WITH THE OPERATION OF SHIPS AND AIRCRAFT IN INTERNATIONAL TRAFFIC The International Chamber
More informationMaritime Transport Amendment Bill
Maritime Transport Amendment Bill Questions and Answers A. Supplementary Fund Protocol Q1. What is the Supplementary Fund? The Supplementary Fund Protocol establishes a third tier of compensation under
More informationTEEKAY TANKERS LTD. REPORTS SECOND QUARTER 2015 RESULTS
TEEKAY TANKERS LTD. REPORTS SECOND QUARTER 2015 RESULTS Highlights Reported second quarter 2015 adjusted net income attributable to shareholders(1) of $41.3 million, or $0.35 per share, compared to an
More informationWorksheet 5 Hong Kong: From Entrepot to International Financial Centre
S1 IH A Brief History of Hong Kong 23 IH Worksheet 5 Hong Kong: From Entrepot to International Financial Centre Over the last two centuries, the world has undergone a lot of changes and so has Hong Kong.
More informationCoastal Trading (Revitalising Australian Shipping) Amendment Bill 2017 No., 2017
2016- The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Coastal Trading (Revitalising Australian Shipping) Amendment Bill No., (Infrastructure and
More informationIrish Tonnage Tax Delivering Global Competitive Advantage
1 Irish Tonnage Tax Delivering Global Competitive Advantage 1 Irish Tonnage Tax Delivering Global Competitive Advantage Irish Tonnage Tax has been introduced to support the development of a new, innovative,
More informationTrends in Labour Productivity in Alberta
Trends in Labour Productivity in Alberta June 2016 -2- Introduction Labour productivity is the single most important determinant in maintaining and enhancing sustained prosperity for Albertans. Higher
More informationA focus on innovation
Introduction Bibby Line Group started out as a family-run shipping business. It was founded in 1807 and since that time the company has grown to become a global business. It has also diversified into new
More informationThe Great Eastern Shipping Co. Ltd. Investors Meet 17 th November, 2006
The Great Eastern Shipping Co. Ltd. Investors Meet 17 th November, 2006 Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking
More information2: PROCEDURES CONCERNING REQUIREMENTS FOR MEMBERSHIP OF IACS
IACS PROCEDURES Volume 2: PROCEDURES CONCERNING REQUIREMENTS FOR MEMBERSHIP OF IACS Volume 2: PROCEDURES CONCERNING REQUIREMENTS FOR MEMBERSHIP OF IACS 1 of 76 Adopted at C60, December 2009 Add 1, April
More informationDaily Briefing. Dry cargo tops 2017 stock performance survey. Leading maritime commerce since Friday January 5, 2018
Friday January 5, 2018 Daily Briefing Leading maritime commerce since 1734 LEAD STORY: Dry cargo tops 2017 stock performance survey NEWS: Taiwan probes Lighthouse Winmore charterer Dry cargo tops 2017
More informationIINO KAIUN KAISHA, LTD. (IINO LINES)
Consolidated Financial Results For the Three Months Ended June 30, 2014- under Japanese GAAP IINO KAIUN KAISHA, LTD. (IINO LINES) Stock code: 9119 URL: http://www.iino.co.jp/kaiun/english/ Representative:
More informationOrganisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development
For Official Use DSTI/DOT/MTC(2003)40 DSTI/DOT/MTC(2003)40 For Official Use Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 22-Jan-2003
More informationChina s 2009 Regulation on the Prevention and
China s 2009 Regulation on the Prevention and Control of Marine Pollution from Ships Nengye Liu * Introduction The People s Republic of China is a major coastal state with an eastern continental coastline
More informationCOMMENTS ON BILL C-64 (AN ACT RESPECTING WRECKS, ABANDONED, DILAPIDATED OR HAZARDOUS VESSELS AND SALVAGE OPERATIONS
COMMENTS ON BILL C-64 (AN ACT RESPECTING WRECKS, ABANDONED, DILAPIDATED OR HAZARDOUS VESSELS AND SALVAGE OPERATIONS Submitted to the House Standing Committee on Transport, Infrastructure and Communities
More informationAPPLICATION TO P&I CLUB FOR ATHENS 2002 PLR WAR BLUE CARD. IMO ship identification number(s): Port of registry: Flag:
APPLICATION TO P&I CLUB FOR ATHENS 2002 PLR WAR BLUE CARD Section 1: Ship/Blue Card Information Name of Ship(s): Distinctive number or letters: IMO ship identification number(s): Port of registry: Flag:
More informationARTICLES OF INCORPORATION OF ***SAMPLE CORPORATION 2***
REPUBLIC OF LIBERIA Business Corporation Act 1977 The Associations Law, Title 5, as Amended, of the Liberian Code of Laws Revised ARTICLES OF INCORPORATION OF (A Nonresident Domestic Corporation) Registration
More informationAnnex 6 referred to in Chapter 8 Schedules in relation to Investment Part 1 Schedules of Specific Commitments in relation to Article 98
Annex 6 referred to in Chapter 8 Schedules in relation to Investment Part 1 Schedules of Specific Commitments in relation to Article 98 1. In this Schedule: 1A Schedule of Japan (a) Sector refers to the
More informationThe Great Eastern Shipping Co. Ltd.
The Great Eastern Shipping Co. Ltd. Investor Conference,Goa February, 2007 Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking
More informationMARINE INSURANCE SOLUTIONS SPECIALTY
MARINE INSURANCE SOLUTIONS SPECIALTY An enduring legacy Marine insurance has existed for thousands of years. In ancient times, ship owners would obtain loans from investors. If a ship was lost, the loan
More informationFINANCIAL HIGHLIGHTS. Brief report of the three months ended June 30, Kawasaki Kisen Kaisha, Ltd. [Two Year Summary] Consolidated
FINANCIAL HIGHLIGHTS Brief report of the three months ended June 30, 2016 [Two Year Summary] Consolidated Kawasaki Kisen Kaisha, Ltd. Three months Three months Three months June 30, 2016 June 30, 2015
More informationANNEX. to the. Proposal for a Council Decision
EUROPEAN COMMISSION Strasbourg, 5.7.2016 COM(2016) 444 final ANNEX 9 PART 1/3 ANNEX to the Proposal for a Council Decision on the signing on behalf of the European Union of the Comprehensive Economic and
More informationREPUBLIC OF THE MARSHALL ISLANDS
REPUBLIC OF THE MARSHALL ISLANDS MARITIME ADMINISTRATOR Marine Notice No. 2-011-45 Rev. 2/15 TO: SUBJECT: ALL SHIPOWNERS, OPERATORS, MASTERS AND OFFICERS OF MERCHANT SHIPS, AND RECOGNIZED ORGANIZATIONS
More informationACQUISITION OF FLOATING PRODUCTION STORAGE AND OFFLOADING VESSELS IN NIGERIA.
ACQUISITION OF FLOATING PRODUCTION STORAGE AND OFFLOADING VESSELS IN NIGERIA. FPSOs are used in the production and storage of crude oil located and produced offshore. Nigeria is the ninth largest producer
More informationNotice to Mariners No. 71
Notice to Mariners No. 71 SUBJECT : FUJAIRAH OFFSHORE ANCHORAGE AREA CO-ORDINATES AMENDMENT & GENERAL INSTRUCTIONS I Amendment Further to our Notice to Mariners No. 53 dated 15/11/1998, Mariners are kindly
More informationAnnex 6 referred to in Chapter 8 Schedules in relation to Investment Part 1 Schedules of Specific Commitments in relation to Article 98
Annex 6 referred to in Chapter 8 Schedules in relation to Investment Part 1 Schedules of Specific Commitments in relation to Article 98 1. In this Schedule: 1A Schedule of Japan (a) Sector refers to the
More informationDiversifying Africa s Largest Economy PAPER PRESENTED BY DR.OKECHUKWU E.ENELAMAH HONOURABLE MINISTER OF INDUSTRY, TRADE & INVESTMENT
Diversifying Africa s Largest Economy PAPER PRESENTED BY DR.OKECHUKWU E.ENELAMAH HONOURABLE MINISTER OF INDUSTRY, TRADE & INVESTMENT AT 4 TH WTO CHINA ACCESSION ROUNDTABLE. PROTOCOL I will like to thank
More informationCapital Product Partners L.P.
Third Quarter 2013 Earnings Presentation October 31, 2013 Capital Product Partners L.P. www.capitalpplp.com Disclosures This presentation contains forward-looking statements (as defined in Section 21E
More informationMaritime Cyprus Tax alert: New tonnage tax legislation introduced
Maritime Cyprus Tax alert: New tonnage tax legislation introduced May 2010 Kanaris Demetriades & Associates COMPLIANCE AUDIT TAX ADVISORY QUALITYSERVICEEXCELLENCE Cyprus: a well established shipping centre
More informationINSERVE Inserve Risk Engineering Ltd Renown House Bury St. London EC3A 5AR. Registered in England No.
A global company of marine surveyors and consultants offering surveys and services tailor made for marine insurers and their clients in the 21st century 2014 Inserve Risk Engineering Ltd Renown House Bury
More informationMARITIME LABOUR CONVENTION 2006 AS AMENDED (MLC): FINANCIAL SECURITY REQUIREMENTS
DECEMBER 19, 2016 TO ALL INSUREDS AND BROKERS Dear Sirs: MARITIME LABOUR CONVENTION 2006 AS AMENDED (MLC): FINANCIAL SECURITY REQUIREMENTS The amendment to the Maritime Labour Convention 2006 (MLC) will
More informationOctober 2017 kpmg.com.mt
Ship Registration in Malta October 2017 kpmg.com.mt Malta developed a strong legal and regulatory platform that enabled the Maltese Flag to become an established and reputable International Ship Register
More informationConsultation Document New Zealand s accession to the Supplementary Fund Protocol
Consultation Document New Zealand s accession to the Supplementary Fund Protocol Ensuring our transport system helps New Zealand thrive May 2014 ISBN: 978-0-478-07265-5 Making a submission 1. Submissions
More informationNigeria s Petroleum Industry:
NRG002-14092011-FO Nigeria s Petroleum Industry: Striving to rise above challenges Nigeria s petroleum sector, has faced severe challenges in recent times. Nonetheless, the inherent potentials of the sector
More informationEconomic Outlook & the Impact on Shipping
Economic Outlook & the Impact on Shipping Gary Morgan Lloyd s Register IMSF 28 Gdansk, Poland European Dry Bulk Shipping Market Outlook A few points before we proceed Globalisation is further complicating
More informationThe economic value of the EU shipping industry. April A report for the European Community Shipowners Associations (ECSA)
A report for the European Community Shipowners Associations (ECSA) Contents Executive Summary... 3 Infographic... 6 1 Introduction and definitions of terms used in the study... 7 2 The evolution of the
More informationPANAMA MARITIME AUTHORITY MERCHANT MARINE CIRCULAR MMC-298
PANAMA MARITIME AUTHORITY MERCHANT MARINE CIRCULAR MMC-298 PanCanal Building Albrook, Panama City Republic of Panama Tel: (507) 501-5348 rberrocal@segumar.com To: Subject: Ship-owners/Operators, Company
More informationPrepared for Members and Committees of Congress
Prepared for Members and Committees of Congress Œ œ Ÿ Many Members of 111 th Congress are concerned about the sharp rise in pirate attacks in the strategic waterways in the Gulf of Aden off the East coast
More informationQatar Navigation Q.S.C.
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 30 SEPTEMBER 2015 INTERIM CONSOLIDATED INCOME STATEMENT For the nine months ended 2015 For the three months ended For the nine months ended
More informationInsurances for a Charterer or Operator
Insurances for a Charterer or Operator Captain Pappu Sastry Director, Founder and Managing Partner NEPA Projects, Hong Kong Enough has been spoken about the marine insurances related to ships but we don
More informationSEAGOING VESSEL S ACCEPTANCE CRITERIA
SEAGOING VESSEL S ACCEPTANCE v. 2016 www.cepsa.com SEAGOING GENERAL CEPSA (Compañía Española de Petróleos, S.A.U.) is an integrated energy company operating at every stage of the oil value chain, engaged
More informationTEEKAY TANKERS LTD. 4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE
TEEKAY TANKERS LTD. 4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY TANKERS LTD. REPORTS SECOND QUARTER RESULTS Highlights Declared a cash dividend of
More informationThe Case for Port Antitrust Immunity Has Its Time Finally Come?
The Case for Port Antitrust Immunity Has Its Time Finally Come? An Introduction to the the Shipping Act of 1984 and Antitrust Immunity for Port Authorities Heather M. Burns, Deputy City Attorney Port of
More informationAXA Africa Specialty Risks
AXA AFRICA SPECIALTY RISKS Political Risk and Trade Credit Growing a business in an emerging market can come with a wide range of issues. That s why offers tailor-made coverage that s designed to help
More informationArmed Guards Onboard Ships - what you need to know!
Insurance Bulletin Issue 03 - April 2011 Armed Guards Onboard Ships - what you need to know! By Steven Jones Welcome In this third Seacurus Insurance Bulletin, we examine one of the most topical issues
More informationMARITIME LABOUR CONVENTION 2006 AS AMENDED (MLC): FINANCIAL SECURITY REQUIREMENTS
OCTOBER 06, 2016 CIRCULAR NO. 34/16 TO MEMBERS OF THE ASSOCIATION Dear Member: MARITIME LABOUR CONVENTION 2006 AS AMENDED (MLC): FINANCIAL SECURITY REQUIREMENTS Reference is made to previous communications
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES. Proposal for a COUNCIL DECISION
COMMISSION OF THE EUROPEAN COMMUNITIES l Brussels, 22.02.2002 COM(2002) 97 final 2002/0048(CNS) Proposal for a COUNCIL DECISION concerning the conclusion of the Agreement on maritime transport between
More informationSPECIALIST PROTECTION
SPECIALIST PROTECTION Review of the Year for the year ended 31 December 2014 Proud of our tradition, proud of our history, focused on the future HELLENIC WAR RISKS AT A GLANCE For the year ended 31 December
More informationQatar Navigation Q.P.S.C.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 30 SEPTEMBER 2018 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONTENTS Page(s) Condensed consolidated interim financial statements: Condensed
More informationConvention on Limitation of Liability for Maritime Claims, 1976 (London, 19 November 1976)
Convention on Limitation of Liability for Maritime Claims, 1976 (London, 19 November 1976) THE STATES PARTIES TO THIS CONVENTION, HAVING RECOGNIZED the desirability of determining by agreement certain
More informationVIETNAM - SCHEDULE OF SPECIFIC COMMITMENTS ( For the Second Package of Commitments ) 1) None 2) None 3) Unbound 4) Unbound
AIR TRANSPORT Aircraft repair and maintenance services (CPC 8868) AIR TRANSPORT SUPPORTING SERVICES FOR ALL TRANSPORT (CPC 746) Selling and Marketing of Air Transport Services * 1) None 1) None 1) None
More informationNON-TECHNICAL MEASURES TO PROMOTE QUALITY SHIPPING FOR CARRIAGE OF OIL BY SEA
INTERNATIONAL OIL POLLUTION COMPENSATION FUND 1992 FOURTH INTERSESSIONAL 92FUND/WGR.4/2/3 WORKING GROUP 12 May 2006 Agenda item 3 Original: English NON-TECHNICAL MEASURES TO PROMOTE QUALITY SHIPPING FOR
More informationJune 2018 kpmg.com.mt
Malta Tonnage Tax Rules June 2018 kpmg.com.mt Malta developed a strong legal and regulatory platform that enabled the Maltese flag to become an established and reputable International Ship Register which
More informationKorean Economic Trend and Economic Partnership between Korea and China
March 16, 2012 Korean Economic Trend and Economic Partnership between Korea and China Byung-Jun Song President, KIET Good evening ladies and gentlemen. It is a great honor to be a part of this interesting
More informationShipping Companies and Ship Registration in Bermuda
Shipping Companies and Ship Registration in Bermuda Preface This publication has been prepared for the assistance of those who are considering the incorporation of a Bermuda company to own or operate ships,
More informationSEACOR HOLDINGS ANNOUNCES SECOND QUARTER RESULTS
July 22, 2010 SEACOR HOLDINGS ANNOUNCES SECOND QUARTER RESULTS FORT LAUDERDALE, FL--(Marketwire - July 22, 2010) - SEACOR Holdings Inc. ( NYSE: CKH) today announced its results for the second quarter of
More informationCONVENTION ON LIMITATION OF LIABILITY FOR MARITIME CLAIMS 1976
CONVENTION ON LIMITATION OF LIABILITY FOR MARITIME CLAIMS 1976 The States parties to this Convention, Having recognized the desirability of determining by agreement certain uniform rules relating to the
More informationRecent Developments of Maritime Law in China. James Hu Shanghai Maritime University Shanghai Wintell & Co Law Firm
Recent Developments of Maritime Law in China James Hu Shanghai Maritime University Shanghai Wintell & Co Law Firm I. Introduction Sources of maritime law: domestic laws, regulations and provisions; international
More informationKIRBY CORPORATION ANNOUNCES RESULTS FOR THE 2002 FIRST QUARTER
KIRBY CORPORATION FOR IMMEDIATE RELEASE KIRBY CORPORATION ANNOUNCES RESULTS FOR THE 2002 FIRST QUARTER 2002 first quarter earnings per share were $.36 versus $.28 ($.35 excluding goodwill amortization)
More informationINLAND REVENUE BOARD OF MALAYSIA TAXATION OF INCOME FROM EMPLOYMENT ON BOARD A SHIP
TAXATION OF INCOME FROM PUBLIC RULING NO. 12/2016 Translation from the original Bahasa Malaysia text DATE OF PUBLICATION: 9 DECEMBER 2016 Published by Inland Revenue Board of Malaysia First edition 2016
More informationThe Great Eastern Shipping Company Ltd. A Review of Financial Year
The Great Eastern Shipping Company Ltd. A Review of Financial Year 04 April 30, 2004 Forward Looking Statement This presentation contains certain forward looking information through statements, which are
More informationVIETNAM BRIEF ABOUT THE COUNTRY AND OPPORTUNITIES IN DOING BUSINESS
VIETNAM BRIEF ABOUT THE COUNTRY AND OPPORTUNITIES IN DOING BUSINESS 1 CONTENTS: I. OVERVIEW OF ECONOMY IN VIETNAM II. III. IV. OVERVIEW OF FDI IN VIETNAM PROCEDURES FOR INVESTMENT TIPS FOR DOING BUSINESS
More informationChange or no change? (How) did the financial crisis affect hull claims trends?
Change or no change? (How) did the financial crisis affect hull claims trends? International Maritime Statistics Forum 10-12 May 2010, at EMSA, Lisbon Astrid Seltmann, Analyst/Actuary @ Cefor The Nordic
More informationd Amico International Shipping Q RESULTS Conference Call - 9 May 2007
d Amico International Shipping Q1 2007 RESULTS Conference Call - 9 May 2007 Disclaimer This document does not constitute or form part of any offer to sell or issue, or invitation to purchase or subscribe
More informationReport on Marine Insurance Premium 2000 and 2001
IUMI 2002 New York City Facts & Figures Committee Report on Marine Insurance Premium 2000 and 2001 Tore Forsmo The Central Union of Marine Underwriters Oslo, Norway Thanks also to Fédération Française
More informationThe New Maritime Silk Road. Marine Money Istanbul Ship Finance Forum 25 th May 2016
The New Maritime Silk Road Marine Money Istanbul Ship Finance Forum 25 th May 2016 = = = Crude Oil Petroleum Products Chemicals Coal Iron Ore Grains Consumer Goods Average Price $70 Million $50 Million
More informationboost tricky Coastal Shipping. Coastal India, the move On one
VITAL INDUSTRY UPDATES - 20/08/2015 Coastal shipping gets boost Coastal shipping in India got a boost with India s largest logistics company in the private sector All Cargo Logistics acquiring two additional
More informationMonthly Market Review Macroeconomy Equity Fixed Income
Macroeconomic Review THE U.S. HAS STARTED THE BIGGEST TRADE WAR IN HISTORY. On July 6, 2018, U.S. President Donald Trump's administration began imposing a US$ 34 billion tariff on goods imported from China,
More informationINVESTMENT environments IN VIETNAM
VIETNAM The Economic and Cultural Office in Taipei INVESTMENT environments IN VIETNAM Mr. Bui Trong Dinh Assistant to the Head Office / in charge of investment Taipei - October 2010 1 VIETNAM investment
More informationEMSA. Annual Overview. of Marine Casualties and Incidents
EMSA Annual Overview of Marine Casualties and Incidents 2015 KEY FIGURES for 2014 as reported in the European database on marine accidents 136 fatalities 3022 accidents 99 very serious accidents 1075 persons
More informationRegulatory Impact Statement: International Convention on Standards of Training, Certification and Watchkeeping for Seafarers - Manila Amendments
Regulatory Impact Statement: International Convention on Standards of Training, Certification and Watchkeeping for Seafarers - Manila Amendments Agency Disclosure Statement Regulatory Impact Statement
More informationTHE REPUBLIC OF LIBERIA LIBERIA MARITIME AUTHORITY
Office of Deputy Commissioner of Maritime Affairs THE REPUBLIC OF LIBERIA LIBERIA MARITIME AUTHORITY Marine Notice POL-008 Rev. 06/12 TO: SUBJECT: ALL SHIPOWNERS, OPERATORS, MASTERS AND OFFICERS OF MERCHANT
More informationANNOUNCEMENT NO TO THE COPENHAGEN STOCK EXCHANGE
ANNOUNCEMENT NO. 13 2003 TO THE COPENHAGEN STOCK EXCHANGE 21 November 2003 TORM - Interim report for the first nine months of 2003 maintains expectations for 2003 Net profit for the first nine months of
More informationGoznak-leasing, CJSC Moscow 2015
Goznak-leasing, CJSC Moscow 2015 1 General Information: Leasing Company Goznak-leasing, CJSC was established in June 2002 to provide enterprises and organizations of Goznak Association (Federal State Unitary
More informationVIRTUAL ARRIVAL FROM A COMMERCIAL AND CONTRACTUAL PERSPECTIVE
VIRTUAL ARRIVAL FROM A COMMERCIAL AND CONTRACTUAL PERSPECTIVE Anna Wollin Ellevsen, Legal and Contractual Affairs Officer, BIMCO INTRODUCTION BIMCO is the world s largest private international shipping
More informationOctober 31, Plan to Equip Part of Our Fleet with EGCS
Capital Product Partners L.P. Announces Third Quarter 2018 Financial Results, Plan to Equip Part of the Partnership s Fleet With Exhaust Gas Cleaning Systems and the Sale of the M/T 'Amore Mio II' October
More informationQatar Navigation Q.P.S.C.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 30 JUNE 2018 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONTENTS Page(s) Independent auditor s report on review of condensed consolidated interim
More informationClauses referred to in Owners Certificates of Entry or Endorsement Slips.
Clauses referred to in Owners Certificates of Entry or Endorsement Slips. Addendum for Owners This Addendum contains full wordings of clauses which may be incorporated, where contractually agreed, in the
More informationHyundai Heavy Industries Co., Ltd. May 2003
Hyundai Heavy Industries Co., Ltd. May 2003 1 Table of Contents 1. Overview 2. Financial Results and Analysis 3. Business 4. Current Issues 2 1. Overview 3 Overview of the Company Establishment : Dec.
More informationIMO WORK PROGRAMME. Damage stability verification of oil, chemical and gas tankers
INTERNATIONAL MARITIME ORGANIZATION E IMO MARITIME SAFETY COMMITTEE 83rd session Agenda item 25 MSC 83/25/14 3 July 2007 Original: ENGLISH Executive summary: WORK PROGRAMME Damage stability verification
More information