Headlines
Shipping companies revenue may hit $500 billion in 2022

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.
“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.
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.
Headlines
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Customs
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Headlines
NIMASA set to open Lokoja office to harness waterways resources

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has disclosed that the Agency is set to reopen the Lokoja office, as part of efforts towards harnessing the Blue Economy, enhancing collaboration, while also promoting Research and Development.
The DG, who made this known when he played host to the Executive Secretary of the Kaduna State Emergency Management Agency (KADSEMA), Mal. Usman Hayatu Mazadu at the head office of the Agency in Lagos, noted that investment in research would play a major role in ensuring the harnessing of Nigeria’s maritime potentials.
“The key cardinal principle of opening the NIMASA Lokoja office is to improve on Research and Development.
He said, “Now, the Blue Economy has come to stay and very soon you will see the impact of what we have; in terms of the gains and benefits to grow our Gross Domestic Product while improving the well-being of our own Economy”.
Earlier in his remarks, Mallam Usman of KADSEMA lauded the Agency for the feat achieved so far, which cuts across the entire Nigeria.
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