Headlines

CMA CGM splashes $2.3bn on Los Angeles terminal take over

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group

CMA CGM has acquired Fenix Marine Services (FMS), one of the largest container terminals in the Port of Los Angeles, United States of America(USA).

The $2.3bn deal ensured that CMA CGM acquired a 90% stake in FMS from private equity fund EQT Infrastructure III, making the French line the sole shareholder in the terminal.

The terminal has a capacity of around 2.5m TEU, is the third-largest in the Port of LA/Long Beach area, and has a long-term concession agreement through to 2043.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group said “In order to manage efficiently our port operations on the West Coast of the United States, we have decided to acquire Fenix Marine Services.

“Fenix Marine Services is one of the largest terminals in this country and one of its most strategic gateways. It is a key industrial facility which will significantly strengthen our position and support our rapid growth in this market.”

The ports of LA and LB have been the focus on considerable media, and more recently federal government attention, over the last year as congestion has reached record levels with vessels waiting weeks to berth, and terminals running out of yard space.

CMA CGM operates 24 services on the transpacific between Asia and the US West Coast and is one of the largest operators on the trade lane.

The FMS terminal currently has four berths and a 292-acre container yard with more than 700 reefer plugs.

CMA CGM said that it would invest to extend yard capacity in a phased approach, expand rail capacity, and construct a new berth.

Sean Pierce, CEO, and President of FMS said, “Our vision was always to deliver on operational excellence and to do things better than they have been done before.

“All employees at Fenix Marine Services, whether on the front line in Port of Los Angeles or at our back-office in Arizona, have been critical in delivering that vision. This transaction is a testament to the strength and fortitude of the team.”

Cash-rich container lines raking in huge profits in the current market are investing in the future with both acquisitions and vessels orders. This year has seen CMA CGM move into the air freight space setting up CMA CGM Air Cargo acquiring four secondhand freighters and ordering two new aircraft.

CMA CGM has been making significant investments in LNG fuelled tonnage and by early 2022 will be deploying 15,000 LNG-powered vessels between Asia and the US, calling at the FMS terminal.

Customs

Freight Forwarders applaud Customs over new VIN valuation

—- as reworked policy comes on stream Friday

Eyewitness reporter

In a rare show of satisfaction and mutual agreement, the highly critical freight forwarders have applauded the Nigeria Customs Service over the new Vehicles Identification Number (VIN) valuation policy.

The new vehicle valuation, which was first introduced about two months ago, was greeted with uproar from the freight forwarders who described the policy as inhuman and unrealistic due to the high values it placed on vehicles.

This led to the suspension of the system by the customs authority which thereafter reworked and improved the policy by accommodating the observations and grievances of freight forwarders.

At the second stage of the demonstration and sensitization of stakeholders on the new VIN valuation held at the Apapa Customs command Thursday, the freight Forwarders were full of praises for the customs over the improved valuation system which they all agreed has addressed and accommodated their views.

“This is very good. The new VIN valuation system has accommodated all our observations, even though there is room for improvement.

“It has taken care of the savage vehicles and accidented vehicles, which the first VIN didn’t consider”, Kayode Farinto, the Acting President of the Association of Nigerian Licensed Customs Agents (ANLCA) and one of the most critical voices of the system, said.

Earlier, the Customs Area Controller of Apapa Command, Comptroller Malanta Yusuf, who is the host, enjoined the stakeholders to take full advantage of the automated system which he said would make goods clearance procedure seamless and faster.

While welcoming the stakeholders to the sensitization meeting, Comptroller Yusuf urged them to be compliant with the extant guidelines to enable them to enjoy the benefits of the new system.

He assured them help desk would be created in each of the commands to help resolve the teething problems that are bound to crop up, adding that there would be continuous engagement and improvement on the new valuation policy.

He told the appreciative stakeholders that the VIN valuation policy is irreversible and will be deployed this Friday, May 20th, 2022.

Comptroller Festus Okun, the Customs Area Controller of Ports Terminal Multiservices Limited (PTML) Command said the Customs, through the VIN valuation, has imbibed basic principles of taxation which include predictability, neutrality, simplicity, and efficiency.

Comptroller Kunle Oloyede of Tin Can Island Port, described VIN as a platform for robust gathering of statistical analysis and data for national economic purposes relying on the template of accuracy that will further integrate NCS with other ministries, departments and agencies.

Comptroller Hammi Swomen of Kirikiri Lighter Terminal Command, who sought more cooperation from all stakeholders, stated that sincere declarations without tampering with relevant information contained in Single Goods Declaration or mismatching information will aid in quicker clearance and seamlessness of the VIN system.

Comptroller Anthony Udenze of the Tariff and Trade Department at Customs headquarters urged vehicle importers and their agents to avoid acts that would delay the process of clearing.

He explained that the process of identifying salvage and accident vehicles under the VIN regime would be very transparent as the declarant would be expected to attach photos showing the accidented vehicles.

He further explained that for vehicles to be treated as accidented, the chassis must be affected by the accident not just by removing fenders, bumpers and headlamps.

However, Farinto called for true declaration and compliance on the part of freight forwarders. w2hivh he said will facilitate their clearance of goods and also made the Customs to introduce more changes such as auto release for used vehicles.

Comptroller Yusuf promised that the issue of auto release of used vehicles, which is not yet accommodated in the new system, will be looked into by the Customs High Command.

The new improved VIN valuation policy has therefore addressed most of the major concerns of stakeholders who said they couldn’t wait to start using the system.

The new system has been given a human face as the assessed values are adjudged as fair and the process transparent by the freight forwarders.

It has also considered the two options of salvage vehicles and accidented vehicles.

It is harmonisation and unification of all the hitherto isolated different values at the commands.

According to Comptroller Udenze, the new VIN valuation considers all the variants and series of all vehicles.

The technological system, which is expected to promote trade facilitation, has also been amended to reflect the reduction in the value of vehicles..

Foreign

U.S. picks 56 young Nigerians for Mandela Washington Fellowship

US President, Joe Biden

Adebayo Obajemu

The United States Mission in Nigeria said it has chosen 56 young ‘changemakers’ for the Mandela Washington Fellowship (MWF) for 2022.

The statement also indicated that U.S. Mission Nigeria has selected 16 alumni from the MWF cohort from 2021 to take part in this year’s Alumni Enrichment Institute.

Kathleen FitzGibbon, Deputy Chief of Mission, made this known at the pre-departure orientation programme in Abuja organised for the beneficiaries in preparation for their fellowship in the United States this Summer.

“For the 2021/2022 MWF application cycle, over 19,000 Nigerians started the application, and over 8,000 submitted the application by the deadline.

“Following this, a total of 56 Mandela Washingon fellowship awards were made available to Nigerians this year,” she said.

In a joyous mood, one of the fellows,
Mayokun Iyaomolere, an environmentalist who will be studying Civic Leadership Track at Appalachian State University, Boone, North Carolina, said getting selected is an exciting opportunity for him.

“I believe this will be a game-changer for me and every other fellow as we will learn optimised ways to enhance the quality and widen the scope of impact of our works,” he said.

Chisom Nwankwo, a social entrepreneur and cleantech expert who runs the Skilled Women Initiative said: “after having a Virtual fellowship in 2021 as a result of the COVID19 pandemic, I am really excited to be heading to Drexel University Pennslyvania this summer as an Alumni Enrichment participant of the MWF.”

“I am looking forward to creating new relationships that will be pivotal to the growth of my nonprofit TSWINI and the improvement of my knowledge on sustainable clean technology solutions,” she said.

Babajide Oluwase, the founder of Ecotutu, a cleantech company delivering a suite of cold chain solutions to African businesses, said it is really an exciting feeling for him to be selected for the fellowship.

“Upon completion of my studies in the United States, I look forward to integrating the learnings into my work to advance Ecotutu’s mission of democratizing access to affordable cooling solutions for African businesses.”

While admonishing the fellows, MWF program coordinator, Diran Adegoke, told fellows that the opportunity to travel to the United States is one to be cherished.

While making a presentation on “elevator speech” to the fellows, he encouraged them to present themselves in the best version possible and always remember that they are in the United States to represent Nigeria.

Launched in 2014, the Mandela Washington Fellowship for Young African Leaders is the flagship exchange programme of the U.S. government-sponsored Young African Leaders Initiative (YALI) created to further the United States’ commitment to investing in the future of Africa.

Each year, U.S. Missions across Sub-Saharan Africa select accomplished leaders, who have established records of promoting innovation and positive impact in their countries.

This summer, the Fellows will travel to the United States to participate in six-week Leadership Institutes studying Business, Civic Engagement, or Public Management at U.S. colleges and universities.

At the conclusion of the Leadership Institutes, the Fellows will attend the annual Mandela Washington Fellowship Summit, where Fellows, U.S. government officials, and representatives from businesses and organisations with an interest in Africa engage in high-level sessions and workshops.

After completing the Leadership Institutes and Summit, Fellows are eligible to participate in several MWF alumni opportunities, such as the Alumni Enrichment Institute, that build on the skills and connections developed during their summer exchange program.

Recall that since 2014, more than 5,000 young leaders from every country in Sub-Saharan Africa have participated in the MWF with 456 Fellows of the lot coming from Nigeria. Thus far, Nigeria remains the largest contributor of Fellows each year.

Talking about the import of the MWF, Ambassador Leonard said, “The United States is dedicated to investing in the next generation of young Nigerian leaders reinforcing the strong partnership between both nations.

The vision, courage, and drive to innovate of Mandela Washington Fellows will help shape the future of Nigeria for many generations to come.”

Headlines

Prophet Akinpelu calls for Southeast presidency

Prophet Oludele Akinpelu,

–—condemns criminal silence of politicians on Deborah’s death

Adebayo Obajemu

Popular prophet, Oludele Akinpelu, the presiding pastor of Living God Freedom Church Àlagbado, has urged the political class to play by the rules and allow equity and justice to have a foothold, saying that it was time for the political system to allow for the president of Igbo extraction.

He made this call in a press release at the end of his annual 41- day of prayers and fasting.

The popular prophet noted for prophetic utterances which normally come to pass added that for the sake of equity and fairness, the Southeast of the country should be allowed to produce the next president of the country.

” For the sake of equity and justice, I urge all presidential contenders from all parts of the country in all the parties to withdraw for Southeast candidates who will then sort themselves out in the primary.

” A nation can not survive if it is built on injustice, honestly, my heart is with the people of the southeast on the issue of the 2023 presidential ticket.

” And I know I’m not alone in this. Pa Ayo Adebanjo expressed a similar sentiment. That’s the way to go if this country must survive.”

He also condemned politicians for not speaking out in the case of Deborah Samuel, who was murdered by fellow students at the Shehu Shagari College of Education for allegedly making derogatory comments on Prophet Mohammed.

” We must condemn jungle justice, if the lady had done something wrong let the court of competent jurisdiction decides.

“The two religions – Islam and Christianity have respect for the sanctity of human life, so I can’t understand where the murderers got their inspiration.

“Even the respected Sheikh Gumi said as much that Prophet Mohammed was insulted severally but he didn’t do anything harmful to his traducers.

“We must be guided by respect for law in our action.”

The respected prophet urged the political class to put their house in order and do the needful to take the country out of economic hardship, insecurity, and pervasive poverty that pervade the land, warning that God’s anger is on those bent on sponsoring crises and insecurity in the country.

He declared that “unless politicians repent and seek the face of the Lord, sudden punishment awaits them for bringing the country to a shameful low in the eyes of the international community through their ill-thought-out economic policies, greed, self-aggrandizement and lack of concern for the welfare of citizens who entrusted them with power and representation.”

In his message to Nigerians, he urged the people to repent and seek the path of righteous living, adding that the current insecurity situation in the country calls for concerted prayers on the side of both Christians and Moslems.

It could be recalled that last June in his open-air crusade in Ikare Akoko which attracted over five hundred thousand people, he prophesied that the ravaging Coronavirus pandemic would wane in Nigeria from the first quarters of 2023, he also said that unless fervent prayers were offered, a notable religious leader in Nigeria would die in the first quarters of this year. All the prophecies have since come to pass.

He attributed the worsening insecurity in the country to the activity of forces of darkness who are bent on foisting a sinister agenda on the country, cashing in on poverty and illiteracy to recruit an army of jobless illiterates to carry out their agenda.

He blamed the current administration for not doubling down on countermeasures against bandits, wondering why the administration is reluctant to name individuals fingered as sponsors of banditry, but added that divine punishment awaited those sponsoring insecurity which had led to the loss of lives of innocent citizens of the country.