Headlines

Shipping companies revenue may hit $500 billion in 2022

–— to earn $200 billion as profit— Drewry report

The maritime research consults, Drewry, has made a forecast for a huge harvest by the world’s containers carriers in 2022 as their operations are expected to gain marginal traction.

The carriers broke records in 2021 leading to reports of dramatic profit increases while the growth is expected to moderate in the year ahead, the companies are still forecast to show another year of record results.

Maritime research consults Drewry released its outlook for 2022 forecasting that higher carrier profits would drive industry sales past $500 billion for the first time in 2022, prompting Drewry to revise its earnings estimate to a staggering $200 billion for the full year.

“The gravy train kept on rolling for ocean carriers,” writes Drewry in its latest Container Forecaster report, noting that the industry “once again exceeded our expectations,” with its third-quarter 2021 reports.

Drewry estimates EBIT performance at $70.9 billion for the third quarter, “a staggering nine-fold improvement from $7.6 billion in the same quarter a year ago.”

Given that the industry was ahead of where they expected after nine months, Drewry had again upgraded its annual forecast for 2021 to $190 billion from its previous projection of $150 billion in profits.

They expect that the container carriers will show a profit margin of approximately 43 percent for the full year.

“The pandemic and ensuing supply chain crisis is the primary driver of the supercharged carrier profits and shares price bonanza,” says Simon Heaney, Senior Manager, Container Research at Drewry.

“In simple terms, the longer the congestion lasts, the longer that freight rates and carrier profits will stay extremely high.”

Among the factors they foresee for 2022 is a reduction in volatility in the spot market instead of expecting that the trend will continue to longer-term contracts, although they forecast they will be signed at much higher rates.

“On balance, Drewry thinks the bulk of risk from the highly unpredictable container market will reside with shippers in 2022,” says Heaney while forecasting that 2022 will be another year of severe disruption, under-supply, and extreme cost.

Drewry notes in its forecast that it would take all of 2022 to fix the supply chain already factored in some further Covid-related disturbance.

They believe that the emergence of Omicron added greater uncertainty to the market.

On the balance, they however believe that container demand growth is losing some momentum and that carriers will face further headwinds in the year ahead, creating the expectation for moderating growth.

Headlines

Mobereola, NIMASA DG, reflects on year 2025 with satisfaction, says 2026 holds promising opportunities for maritime industry

Funso OLOJO

The Director -General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dayo Mobereola, has expressed his satisfaction over the achievements recorded in the maritime industry in the outgoing year of 2025, while looking forward to a promising 2026 with hope.

In his Christmas message to the stakeholders in the maritime industry, Dr Mobereola noted that the 2026 ended well with the election of Nigeria into the category C of the International Maritime Organization (IMO) after 14 years of failed attempts as well as zero occurrence of piracy attacks on Nigeria’ waters.

“The year 2025 has been a good one for our industry as once again, we have not recorded a single piracy attack in our waters in a whole calendar year, Nigeria was also able to deposit three Instruments of Accession to IMO Conventions that were signed by President Bola Tinubu ,we have been able to maintain industrial harmony in the sector all of which culminated to Nigeria’s election into the category C Council of the International Maritime Organization.

“We couldn’t have done this without our stakeholders who have contributed in various ways in the course of their operations during the year. We see you, we thank you and we felicitate with your during this yuletide season”Mobereola observed.

He however assured that the Agency will re-double efforts in ensuring that 2026 is even better for every stakeholder.

While calling on industry operators to brace up for the new year with hope of better times, Dr. Mobereola noted that “at NIMASA, we appreciate the weight of our renewed responsibility by virtue of Nigeria’s membership of the IMO Council because to whom much is given, much is definitely expected.

” You can therefore be sure of an increased momentum in our resolve to sustain maritime safety, security, environmental protection and adherence to relevant conventions and protocols with renewed vigour.”

The DG concluded by acknowledging the support of President Bola Ahmed Tinubu, Adegboyega Oyetola, Minister of Marine and Blue Economy, industry stakeholders, management and staff of NIMASA as well as all Nigerians and wished everyone a Merry Christmas and a prosperous New Year.

Headlines

FG trains 75 boat operators on safe inland waterway navigation

Funso OLOJO

The Federal Ministry of Marine and Blue Economy, in collaboration with the National Inland Waterways Authority (NIWA), has concluded a three-day Boat Navigation and Safety Training for 75 boat drivers and skippers, as part of efforts to improve safety and professionalism on Nigeria’s inland waterways.

The training, which ran from Monday, 22, December, 2025 to Wednesday, 24 December, 2025 focused on equipping participants with the practical knowledge and operational competence required for the issuance of the Certificate in Safe Boating and Navigation.

Participants were drawn from major boating associations, including the Maritime Workers Union, the Association of Tourist Boat Operators and Water Transporters of Nigeria (ATBOWATAN), and the Waterfront Boat Owners and Transporters Association of Nigeria (WABOTAN).

Boat operators from Lagos, Ogun and Ondo states took part in the programme.

Speaking at the closing ceremony, Timothy Clement of the NIWA Lagos Area Office described the training as a significant intervention aimed at reducing accidents on inland waterways.

He noted that many previous boat mishaps were caused by limited technical knowledge and insufficient experience among operators, adding that sustained capacity-building would help address the challenge.

Clement also highlighted ongoing safety measures being implemented by NIWA, including the removal of wrecks to improve navigation and continuous sensitisation of boat operators along major routes such as CMS, Ikorodu, Badore, Badagry and Port Novo.

According to him, NIWA has intensified awareness campaigns, moving from jetty to jetty to educate operators on safe practices, while encouraging boat owners to release more skippers and captains for structured training programmes.

“So far, so good. We thank God for the success of this three-day training for boat skippers.

“Participants came from Lagos and other parts of Nigeria, and over the past three days, they have learned a great deal,” Clement said.

“This year alone, NIWA conducted sensitisation exercises two to three times across different jetties.

“We are encouraging operators to make more of their captains and skippers available for this kind of training.

” I believe that by this time next year, we will have even more reasons to celebrate improved safety on our waterways,” he added.

Also speaking, the Lead Trainer and Consultant, Dr. Sileola Akinbowale, described the programme as a life-saving initiative designed to strengthen manpower capacity and reduce waterway accidents.

She explained that the training was structured to ensure boat operators are properly equipped with both theoretical knowledge and hands-on skills required to operate safely and efficiently.

Akinbowale commended the Federal Government, the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the former Managing Director of NIWA, Bola Oyebamiji, for prioritising safety and capacity development in the sector.

Assessing the programme, she rated it about 90 per cent successful, noting that it combined classroom sessions with practical exercises on the water.

“We did not limit the training to classroom lectures. Participants were taken out for practical sessions at the jetty, which made the programme very effective. It was an all-inclusive training, not just theory,” she said.

She assured that the initiative would be sustained, stressing that continuous capacity enhancement remains critical to saving lives and improving professionalism on inland waterways.

Participants expressed satisfaction with the training, describing it as timely and impactful.

A Lagos-based boat operator, Wasiu Olalekan, said the programme had strengthened participants’ ability to respond to emergencies and distress situations.

“With this training, we now know how to handle distress situations on the waterways because of the knowledge given to us. On behalf of the Lagos State participants, we appreciate the Minister and NIWA management for this opportunity,” he said.

Another participant from Ondo State, Biobaku John, said the training exposed him to critical safety and emergency response skills that would enhance his professionalism.

“I gained important safety and firefighting skills during these three days. As a boat driver, I learned a lot and I am proud to have participated,” he said.

Similarly, the leader of the Ogun State delegation, Pami Ronald, said participants were trained in boat handling, safety procedures, first aid, emergency response, engine maintenance and effective waterway transport management.

“For the past three days, we learned extensively about safety, first aid, how to raise alarms, call for rescue teams and even engine maintenance. The training was very educative,” he said.

The programme forms part of ongoing efforts by the Ministry of Marine and Blue Economy and NIWA, in line with recommendations from investigation reports under the tenure of former NIWA Managing Director, Bola Oyebamiji, to improve safety standards, professionalism and confidence among inland waterway operators nationwide.

Headlines

FG approves 50 percent price slash on Yuletide train services

— as passengers flood train terminal

Funso OLOJO

The Nigerian Railway Corporation (NRC) has commenced 50 percent price discount on Yuletide train services across the country which was approved by the Federal Government to ease traveling during this festive session.

The 50 percent slash in the prices of train services runs between Tuesday, December 23rd, 2025 to Sunday, January 4th, 2026.

According to the statement from the NRC, the commencement of the price reduction attracted huge turn out of passengers who thronged major railway corridors across the country to take advantage of the offer.

At major stations along the Lagos–Ibadan, and Abuja–Kaduna, as well as key narrow gauge routes, passengers turned out in large numbers, with several train departures operating at near full capacity as early bookings reflected strong public response to the 50% discount initiative.

The festive rail service, being implemented by the Nigerian Railway Corporation, runs from Tuesday, 23 December 2025 to Sunday, 4 January 2025, during which passengers enjoy a 50 percent discount on train fares nationwide to ease the cost of festive travel.

Many passengers who interacted with NRC officials expressed appreciation for the 50 percent discounted fares, describing the initiative as timely, thoughtful, and economically relieving, especially for families and group travellers journeying to reunite with loved ones during the Yuletide season.

According to the NRC , the 50 percent Yuletide Train Ride is a people-oriented intervention under the Renewed Hope Agenda of President Bola Ahmed Tinubu, aimed at reducing transportation costs, promoting inclusive mobility, and encouraging the use of rail transport as a safe and reliable alternative during peak travel periods.

Speaking on the commencement of the discounted festive operations, the Managing Director/Chief Executive Officer of the NRC, Dr. Kayode Opeifa, assured passengers of the Corporation’s preparedness to sustain safe, efficient, and customer-focused services throughout the Yuletide period.

The Corporation confirmed that both standard gauge and narrow gauge services are fully operational, with enhanced security, safety, and customer service arrangements in place across stations and onboard trains to manage increased passenger traffic resulting from the 50% discount offer.

Passengers travelling on standard gauge routes are advised to continue using NRC-approved online booking platforms, while passengers on narrow gauge services can purchase their tickets directly at designated railway stations.

The Nigerian Railway Corporation reiterates its commitment to seamless festive operations and urges passengers to cooperate with railway officials and comply with all travel guidelines to ensure smooth journeys throughout the 50% discount Yuletide Train Ride period.