Headlines
Maersk records $6.8billion in Q1 2022

Maersk reported its best-ever quarter in Q1 2022 with a $6.8bn profit despite taking a $718m hit from pulling out of Russia.
Operating results hit record levels across Maersk’s ocean, logistics and services, and terminals segments.
Maersk said its ocean segment’s result was fuelled by strong contract rates boosting freight rates; logistics and services were supported by increased volumes and better margins.
This all added up to a $6.8bn profit in Q1, compared to $2.7bn in the same period in 2021, for the Danish shipping company.
The ocean segment reported a 6.7% decline in loaded volumes, driven by lower backhaul volumes in Europe and North America, said Maersk.
“Freight and charter rates remained elevated in the container industry, reflecting congestions, although a gradual decline was recorded for spot/short-term contracts during Q1 relative to Q4 2021, in line with the deterioration of supply-demand,” Maersk said in its Market Insights.
“The continued congestions and dislocation of supply and demand fundamentals in the logistics industries increases the uncertainty surrounding the rates outlook.
Maersk continued its acquisition binge in the quarter, and completed its purchase of Pilot Freight Services.
Maersk decided in the wake of Russia’s invasion of Ukraine to completely withdraw from Russia.
Maersk’s withdrawal from Russia includes divestment of shares in Global Ports Investments, the exit of two Russian warehouses, and an end to Svitzer towage services in Sakhalin.
Maersk restated its updated guidance issued on April 26 of a $30bn underlying EBITDA for 2022.
Analyses
The invisible toll gates:Why National Single Window is Nigeria’s ultimate economic battleground

Headlines
NANTA Exco embarks on seven-day Ghana retreat, fam trip to deepen regional tourism partnership

Gloria Odion, Reporter
The National Executive Council (NEC) of the National Association of Nigeria Travel Agencies (NANTA) has commenced a seven-day executive retreat and familiarisation (fam) trip to Ghana, hosted by Safari World, as part of efforts to strengthen regional tourism partnerships and expand cross-border travel opportunities.
The NANTA delegation was received at Safari World Homes in Accra by the Chairman of the Safari World Group, Mr. Ernest Gyekye, who expressed delight at hosting the Nigerian travel trade leaders.
He assured the delegation of a memorable experience throughout their week-long stay.
Speaking on the significance of the visit, NANTA President, Mr. Yinka Folami, described the retreat and familiarisation tour as a strategic initiative aimed at fostering stronger business relationships and promoting collaborative tourism development across Africa.
“This mission is not a leisure trip,” Folami said. “It is a deliberate step to implement and expand our association’s marketing advocacy for Nigerian brands across borders.”
He noted that Nigeria and Ghana share deep historical, cultural and commercial ties that should be leveraged to drive tourism growth on the continent.
“Nigeria and Ghana share history, culture, trade and people. The future of our tourism cannot be built in silos,” he said.
“This retreat is about moving from policy to practice—creating real products, real partnerships and real movement of travellers between Accra and Lagos.”
As part of the programme, the NANTA executives will engage in strategic business-to-business (B2B) meetings with their Ghanaian counterparts, tour key tourism destinations under the Safari World brand, and participate in cultural exchange activities designed to promote stronger bilateral tourism cooperation.
The itinerary spans Safari World’s three flagship destinations, including Safari Homes in Accra, the Aqua Safari riverfront experience, Safari Island Cruise, Safari Nautica, and Safari Recreation and Sports facilities in Ada, as well as the Safari Valley Eco Resort and Safari Eco Park in Dawu.
Operating under the brand promise, “One World, Three Destinations, Over 20 Unique Experiences,” Safari World is leveraging the visit to strengthen its footprint in the Nigerian travel market while positioning Ghana as a premier destination for leisure tourism, conferences, group travel, family holidays and premium tourism experiences.
A major highlight of the visit will be the Executive Dinner scheduled for July 21 at the Safari Valley Eco Resort, where key stakeholders from Nigeria and Ghana’s tourism industries will deliberate on strategies for deepening travel trade and advancing regional tourism development.
The familiarisation tour is expected to provide NANTA’s leadership with first-hand knowledge of Safari World’s tourism offerings, paving the way for the development of attractive travel packages and stronger business partnerships that will benefit Nigerian travellers and the wider West African tourism industry.
Customs
Ogun Customs spurns claims of Smugglers’ takeover of Idiroko–Sango Ota trading Route

Funso OLOJO, Editor
The Ogun I Area Command of the Nigeria Customs Service (NCS) has dismissed as false reports alleging that smugglers had taken over the Idiroko–Sango Ota trading route in Ogun State, describing the claims as a deliberate misrepresentation of a traffic incident.
In a statement issued by the Command’s Public Relations Officer, Superintendent of Customs (SC) Chado, the Command clarified that the traffic gridlock on the route resulted from the breakdown of an articulated commercial trailer after it fell into a badly deteriorated section of Atan Road, temporarily obstructing the free flow of traffic.
According to the Command, the vehicles caught in the ensuing congestion were legitimate commercial trucks transporting red palm oil to various local markets and had no connection whatsoever with smuggling activities.
It explained that the large number of heavy-duty trucks trapped in the gridlock may have led some members of the public to wrongly conclude that smugglers had taken over the road.
“The reports that smugglers blocked the road are inaccurate. The disruption resulted from a road accident and poor road conditions. The vehicles involved were lawful commercial vehicles transporting red palm oil for legitimate trade,” Chado stated.
The Command urged journalists, social media users and the general public to verify information before disseminating reports capable of creating unnecessary panic or undermining public confidence in security agencies.
Observers within the border trade sector noted that the allegation does not reflect the prevailing security situation within the Ogun I Area Command, where anti-smuggling operations have been intensified under the leadership of the Acting Customs Area Controller, Comptroller O.O. Afeni.
Since assuming office, Comptroller Afeni has strengthened intelligence-driven surveillance, enhanced collaboration with other security agencies and host communities, and sustained pressure on economic saboteurs operating along the Ogun border corridors.
These measures, according to stakeholders, have resulted in significant seizures of prohibited goods and reinforced the Command’s resolve to safeguard Nigeria’s economy and territorial integrity.
Maritime and border trade stakeholders also cautioned against the spread of unverified information capable of undermining the efforts of security personnel or creating a false impression of lawlessness in border communities.
They stressed that while combating smuggling remains an ongoing responsibility, responsible and accurate reporting is equally critical to ensuring that operational achievements are not overshadowed by misinformation.
The Ogun I Area Command reaffirmed its commitment to sustaining its anti-smuggling campaign while facilitating legitimate cross-border trade in line with the statutory mandate of the Nigeria Customs Service.
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