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Container spot rates fall marginally, long-term keep climbing

Agency Report

The last week has seen a marginal decrease in spot container freight rates, however, long-term rates are up more than 90% year-on-year.

The Drewry World Container Index (WCI) declined by 0.2% for the week ended 30 September to $10,360.87 per feu, remaining some 291.8% higher than a year earlier. The marginal drop in average follows a flat index week earlier, which marked a stabilisation after 22 weeks of consecutive increases.

The overall week-on-week decrease was driven by the transpacific trade with Shanghai – Los Angeles down 2% at $12,172 per feu, which remains up 198% year-on-year. The backhaul LA – Shanghai saw a 1% decrease last week to $1,383 per feu.

Spot rates on Asia – North Europe rose through with Shanghai – Rotterdam up 1% at $14,558 per feu, with rates up 535% year-on-year.

“Drewry expects rates to remain steady in the coming week,” the analyst said.

The stabilising of spot rates coincided with CMA CGM’s announcement that it would be freezing spot increases until 1 February next year.

The change in approach was noted by Xenata CEO Patrik Berglund. “However, with rates already so high there’ll no doubt be many shippers viewing this as ‘crumbs from the rich man’s table’… and let’s see if any freezes do take hold within the broader carrier community,” he commented.

While container spot rates may finally be showing some stability Xenata said the impact on long-term rates continues to be felt with another 3.2% rise in September taking year-to-date increases to 91.5%.

Xenata little evidence that the fundamentals are weakening and expect rates to remain strong.

“This year has seen a unique convergence of Covid-19 disruption, port congestion, strong demand, and maxed-out capacity, and that has stoked the flames of record-breaking rates,” explained Berglund.

“The global supply chain is under immense pressure and desperate shippers have no choice but to pay up to secure deliveries, or at least try to, ahead of key trading periods such as Christmas. It’s a crazy market out there.”

Xenata noted that with the market strongly in their favour, lines were looking to lock in customers in long-term bookings with some even offering multi-year deals with guaranteed shipments.

“Shippers are treading carefully in this regard, but there is some appetite for longer-term commitment – raising the question of whether both parties might look beyond the traditional tender?” Berglund said.

It was noted that long-term contracts already account for 60% of Maersk’s bookings.

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NIMASA deepens maritime security as 492 Deep Blue personnel graduate in tactical training.

Funso OLOJO, Port Harcourt.
The Nigeria’s maritime security received a massive boost as 492 personnel of the iconic Deep Blue project have graduated from tactical trainings received across some of the best security institutions in the world.
Unveiling the graduants in their tactical attires at the Elele military barrack, Port Harcourt, the Director General of the Nigerian Maritime Administration and Safety Administration( NIMASA), Dr Dayo Mobereola, said the occasion gave the agency a sense of fulfillment and accomplishment on its task to ensure Nigeria’s maritime domain is secured.
According to him, the 492 graduating Deep Blue personnel undergone specialized trainings conducted across several strategic training locations across the world, including Italy, Switzerland, Australia, Syria and
Nigeria.
He disclosed that the training has therefore exposed the personnel, taken from across different units of the Deep Blue project, to global best practices and international operational standards in maritime security operations.
“Today’s event is a demonstration of
operational readiness, institutional resilience and Nigeria’s determination to maintain a safe, secure and economically viable maritime environment.
“With many people are not fully aware of the level of operations and integration and technological capacity that supports these achievements.
“The Deep Blue architecture integrates two special mission aircraft equipped with advanced maritime surveillance sensors, three special mission helicopters for over-the-sea operations and surveillance, two special mission vessels for deep sea operations, eight unmanned aerial vehicles for real-time intelligence gathering, 16 fast interception boats for rapid tactical response and 15 armed coastal patrol vessels.
” The Command, Control, Communication, Computer and Intelligence Center, the C4I, serves as
the central coordination hub for military domain awareness and operational response.
“As many of you may recall, the Gulf of Guinea was once regarded as one of the most challenging military
maritime regions in the world due to incidents of piracy and robbery.
“Today, through the Deep Blue project and the collective efforts of all stakeholders, we are proud to say that Nigeria has
transformed the narrative which has resulted in zero piracy incidents since 2022.
“This has restored trust among global shipping operators, investors, and maritime stakeholders.
Mobereola expressed appreciation the Minister of Marine and Blue
Economy, Adeboyega Oyetola, for what he described as his exemplary leadership, strategic guidance, and steadfast commitment to promoting maritime security initiatives in Nigeria.
He also acknowledged the role the  Minister of Defense, General
Christopher Musa and the Minister of State for Defense, Dr. Belo
Matawale for their continued support and commitment towards strengthening national security and enhancing interagency cooperation in the maritime domain.
Mobereola commended  the Nigerian Navy, Air Force, Army, the Nigerian Police Force, the Department of State Services, (DSS) and all security and intelligence agencies whose professionalism and
cooperation continue to strengthen the operational success of the Deep Blue project.
Hee made special mention of Deep Blue project technical partner HLSI, Security Systems Technologies Limited, for their invaluable support, technical expertise, commitment to capacity development, and strategic partnership in the implementation and sustainability of the Deep Blue project.
NIMASA DG also congratulated the graduating personnel  for successfully completing the important steps of their professional journey.
“This strength you have received comes with enormous responsibility as you are expected to uphold high standards of professionalism, discipline, integrity, and the discharge of your duties.
Tge event was by the Minister of Marine and Blue Economy, Adegboyega Oyetola,  the  Minister of Defense, General
Christopher Musa and the Minister of State for Defense, Dr. Belo
Matawale, high military personnel from Navy, Army and Sir force.
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Headlines

WHO honors NFVCB over tobacco control in entertainment industry

Funso OLOJO, Editor 
The National Film and Video Censors Board (NFVCB) has been honoured with the World Health Organization (WHO) Director-General’s Special Award, African Region, receiving a Certificate of Appreciation for its outstanding contributions to tobacco control advocacy and the promotion of responsible media content in Nigeria.
 The NFVCB is the only institution among the five-person African Region winners unveiled as part of the activities commemorating World No Tobacco Day.
This recognition by the DG of the WHO, Dr. Tedros Adhanom Ghebreyesus, acknowledges the Board’s leadership in regulating the depiction and promotion of tobacco and nicotine products in Nigerian films, music videos, skits, and other audiovisual content, particularly those accessible to young audiences.
 The WHO Director-General’s Awards are presented annually ahead of World No Tobacco Day on May 31 to honour individuals and organizations across WHO’s six regions for exceptional work in advancing the implementation of the WHO Framework Convention on Tobacco Control (WHO FCTC).
NFVCB was recognized for its landmark 2024 regulations prohibiting the promotion, and glamourization of tobacco and nicotine products in entertainment content.
The regulations require that any necessary depiction of tobacco use in films and videos must carry health warnings, receive the highest classification rating, and be restricted to audiences aged 18 years and above.
The regulations also mandate producers to place a disclaimer and disclose any relationship with the tobacco and nicotine industry while prohibiting tobacco brand display and product placement in entertainment content.
The policy aligns with the implementation guidelines of Article 13 of the WHO FCTC on tobacco depiction in entertainment media.
With the introduction of the regulations, Nigeria became the first country in Africa and only the second globally to establish such comprehensive safeguards against the glamorization of tobacco use on screen.
Research and WHO guidance have consistently shown that the portrayal of tobacco use in entertainment media normalizes smoking behaviour and increases the likelihood of tobacco uptake among young people.
Through clear regulatory standards, the Board is helping to reduce exposure to pro-tobacco imagery while promoting socially responsible storytelling within Nigeria’s creative industry.
The recognition also aligns with the 8-Point Agenda of the Honourable Minister of Art, Culture, Tourism and the Creative Economy, Barrister Hannatu Musa Musawa, aimed at strengthening policy frameworks, promoting responsible creative content, preserving cultural values, and positioning Nigeria as Africa’s creative capital by 2030.
Speaking on the recognition, the Executive Director and Chief Executive Officer of the NFVCB, Dr.Shaibu Husseini, described the award as a validation of the Board’s efforts toward promoting responsible storytelling and safeguarding public interest through effective content regulation.
“This award is a validation of the work we have done with the Nigerian creative industry to promote responsible storytelling.
“The goal has never been to censor art, but to ensure that our films do not inadvertently market products that are harmful to public health,” he stated.
 Dr. Husseini reaffirmed the Board’s commitment to supporting initiatives that promote healthy societal values, protect children and vulnerable audiences, and strengthen the positive influence of Nigeria’s entertainment industry globally.
The ED also expressed appreciation to the Federal Ministry of Art, Culture, Tourism and the Creative Economy, filmmakers, producers, and advocacy partners, especially Corporate Accountability and Public Participation Africa (CAPPA), National Tobacco Control Alliance (NTCA), and Campaign for Tobacco-Free Kids (CTFK), for their collaboration in advancing the policy.
The Board stated that it would continue to strengthen enforcement of the regulations, expand public education and stakeholder engagement, and deepen collaboration with WHO, the WHO FCTC Secretariat, and relevant stakeholders in promoting responsible entertainment content and public health protection.
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Business

Taiwo Afolabi calls on African businesses to scale up their operations for global relevance

Gloria Odion, Maritime reporter 
Dr. Taiwo Afolabi, Chairman, SIFAX Group, has called on African entrepreneurs, investors, and business leaders to prioritise the growth of large, sustainable corporations capable of competing globally, rather than operating fragmented and small-scale enterprises that limit the continent’s economic potential.
Speaking at the sidelines of the Africa CEO Forum held in Kigali, Rwanda, Afolabi said Africa’s economic transformation would depend significantly on the emergence of strong indigenous corporations with the scale, structure, and capacity to drive industrialisation, create jobs, attract investment, and compete internationally.
According to him, discussions at this year’s forum reinforced the urgent need for African businesses to embrace collaboration, long-term thinking, regional integration, and strategic expansion.
He said: “Africa cannot achieve its full economic potential with thousands of weak and fragmented businesses operating in silos.
“What the continent needs are strong institutions and large corporations that can survive beyond their founders, scale across borders, attract global capital, and compete with the best companies around the world.”
Afolabi noted that while entrepreneurship remains critical to Africa’s growth story, the continent must deliberately move beyond subsistence and lifestyle businesses towards building enduring enterprises with robust governance systems, innovation capacity, and continental reach.
He stressed that African governments, financial institutions, and private sector stakeholders must create enabling environments that support business scalability through improved infrastructure, access to finance, favourable regulations, and intra-African trade.
“The conversations at the Africa CEO Forum clearly showed that Africa’s future lies in integration and scale.
“The African Continental Free Trade Area (AfCFTA) presents a historic opportunity for businesses to expand beyond national borders and build truly pan-African enterprises,” he added.
Afolabi noted that SIFAX Group’s long-term vision is anchored on strengthening intra-African trade and supporting the successful implementation of AfCFTA through investments in logistics, ports, transportation, and digital finance solutions across Africa.
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