Connect with us

Headlines

Shipping companies jittery over higher freight costs due to carbon tax

The Global Shippers Forum (GSF), is a global business organization that represents cargo owners exporting and importing to international supply chains is jittery over a possible increase in freight cost as a result of the new carbon tax that will be discussed at this week’s meeting of the Marine Environment Protection Committee (MEPC) at the International Maritime Organisation (IMO).
It seems that it will increase freight costs for shippers beyond the already record levels.

After decades of efforts by the IMO to reach an agreement on the so-called IMO 2023, a set of energy efficiency measures for existing ships, which will take effect next year, MEPC will now consider a further proposal for the introduction of a carbon tax on bunker fuel.

Such a tax will be imposed as an incentive to switch to fuel options with lower carbon emissions and could eventually double the current price of traditional fuels.

GSF, in trying to mitigate the effects, urges regulators to ensure that the ability of shipping lines to remove older capacity from the market, which they consider uneconomical to upgrade to progressively more demanding levels of performance, is not used as a disguised means for capacity management resulting in higher freight rates.

James Hookham, GSF director said “Shippers will be forgiven for thinking that the proposal and its consideration at the IMO will inevitably result in still higher freight rates.

”That’s because the shipping industry has a very efficient mechanism for passing through higher fuel costs in the form of BAF; a surcharge to cover variations in fuel price. There are few reassurances in the existing proposals that a Carbon Tax won’t just be passed through as an added cost for shippers.”
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Customs

PTML donates smart office complex to Customs for enhanced performance 

Funso OLOJO, Editor
The Port and Terminal Multi-Services Limited (PTML), Tin Can Island port, has demonstrated a rare commitment to the welfare and well being of the officers of the PTML command of the Nigeria Customs Service when the terminal operator donated a new fully furnished office complex with modern Information and Communications Technology (ICT) facilities to enhance their operations and boost their efficiency.
While handling the smart office complex to the management of the command on Thursday, May 7th, 2026, the Managing Director of  PTML), Mr Ascanio Russo, described the project as a clear demonstration of PTML’s unwavering commitment to supporting the Nigeria Customs Service and ensuring that officers operate in an environment that promotes efficiency, professionalism and productivity.
According to him, the new office complex reflects PTML’s broader vision of fostering stronger institutional partnerships that will ultimately benefit port users and the Nigerian economy.
“This project symbolises our enduring partnership with the Nigeria Customs Service and our collective determination to improve operational standards at the port.
“We promised to provide additional offices to Customs, to complement the existing offices, and today we are proud to fulfil that commitment with a facility designed to provide a modern, comfortable and highly functional workspace for officers.
“We firmly believe that when regulatory agencies are provided with the right work environment and support, they are better positioned to carry out their responsibilities efficiently.
“This new modern facility will undoubtedly enhance productivity, strengthen operational effectiveness and contribute significantly to the seamless movement of cargo and trade facilitation at the terminal,” Russo stated.
He further commended officers and men of the PTML Command for their dedication, professionalism and consistent efforts in sustaining cargo throughput and boosting government revenue generation despite operational challenges.
Receiving the new office complex on behalf of the Nigeria Customs Service, the Customs Area Controller of the PTML Command, Comptroller Joe Anani, expressed deep appreciation to the management of PTML for delivering the project, which he described as timely and impactful.
Comptroller Anani noted that a conducive working environment remains critical to the effectiveness, morale and overall performance of officers, stressing that the newly renovated complex would greatly enhance administrative efficiency and operational coordination within the Command.
“This is truly a dream come true for us. I was informed that this project had been in the pipeline for quite some time, so witnessing its successful completion during my tenure gives me immense satisfaction and joy.
“PTML has demonstrated genuine commitment, responsibility and partnership through this laudable gesture.
“A modern workplace like this has a direct impact on the efficiency and motivation of officers.
“This facility will undoubtedly improve our operational capacity, create a better working atmosphere and support our mandate of facilitating legitimate trade while ensuring compliance with government regulations.
” We sincerely appreciate PTML for honouring this promise and for continuously supporting the activities of the Command,” Anani said.
Industry stakeholders at the event noted that the development will contribute positively to faster cargo clearance procedures, improved administrative processes and stronger synergy between terminal operators and regulatory authorities, all of which are essential to achieving greater efficiency within Nigeria’s maritime sector.
PTML, which is Nigeria’s leading roll-on roll-off terminal, is widely recognised for handling vehicle and container imports as well as providing integrated logistics and terminal services.
 The terminal has continued to play a strategic role in supporting Nigeria’s maritime trade through its significant investments in infrastructure, operational efficiency and technology-driven cargo handling processes aimed at improving port productivity and reducing cargo dwell time.
Continue Reading

Analyses

MONDAY DISCOURSE WITH NASIRU

Chief Nasiru Ibrahim

Chief Nasiru Ibrahim, the former General Manager, Corporate and Strategic Communications, Nigerian Ports Authority (NPA), has joined the stable of theeyewitnessnews as a guest columnist.

Every Monday, Chief Nasiru will  delve into the diverse world of  maritime, politics and business in a rich and engaging prose.

He will lay bare the intriguing issues in these areas of human endeavours in his Monday Discourse.

Please stay tuned!!!

Tomorrow, join Nasiru as he takes us into the depth of “money politics, the  delicate case of delegates, the NDC as a new political bride and many more.

Is the “Delegate Disease” Finally Cured? 🗳️💻

“Whatever is hidden by the fog of political intrigue is eventually revealed by the light of the ballot.”

As Nigeria hits the May 10th deadline for digital membership registers, the 2027 primary cycle has reached its first major “survival” test.

In tomorrow’s deep dive:

🔹 The ₦100M Ticket: Why “Direct Primaries” are bankrupting party treasuries.
🔹 The NDC Surge: Following the May 3rd defection, can the new Obi-Kwankwaso alliance mobilize 10 million members in time to beat the clock?
🔹 The Death of the Delegate: Is power really moving back to the people, or just moving to a different kind of “money politics”?From the BVAS overhaul to the ₦135B legal “war chest,” we break down the high-tech, high-cost future of Nigerian democracy.

Keep a date with us as we drop the full article tomorrow

Continue Reading

Headlines

Beyond the Fog: Can ICTN and $5 billion mandate finally secure Nigeria’s Ports?

Ibrahim Nasiru

“Whatever is hidden by the fog of the sea is eventually revealed by the light of the shore.”

This maritime maxim captures the true essence of the International Cargo Tracking Note (ICTN), a tool designed to pull back the veil on what truly enters Nigeria’s waters.

For over a decade, however, the ICTN itself remained hidden in the fog of Nigerian bureaucracy, promised by successive administrations but never quite reaching the shore of actual implementation.

As the Federal Government makes its latest push to activate this system in 2026, the maritime community is watching with a mix of hope and hard-earned skepticism.

This skepticism is not born of a lack of patriotism, but of a long memory of “governmental rhetoric” and a history of legal warfare.

In 2010, the initial attempt to introduce the ICTN was unceremoniously scrapped following a massive outcry from the organized private sector, who viewed it as an extra tax offering no real value.

By 2015, the conversation returned, only to be swallowed by a protracted “supremacy battle” between the Nigerian Shippers’ Council (NSC) and Nigerian Maritime Administration and Safety Agency (NIMASA) over who should control the pulse of our maritime data.

This inter-agency rivalry was a “teapot of confusion” that cost Nigeria an estimated $500 million in annual revenue losses during the height of the friction, leaving our Ports vulnerable while neighbours in Ghana and Togo moved ahead.

The 15 year delay of the ICTN was never just about technology; it was a high-stakes struggle that left the national economy as the primary casualty.

Today, roughly $3.0 billion is lost annually to trade mis-invoicing, where exporters and importers “ghost” the true value of cargo to bypass Customs duties.

Another $1.2 billion vanishes through seaport fraud and cargo concealment, a practice that also poses a grave security risk by allowing the smuggling of small arms and dangerous drugs.

Furthermore, manual verification processes cost shippers $500 million in unnecessary demurrage, while the lack of transparency forces us to pay $300 million in “Perception Tax”, the high insurance premiums charged by international underwriters who cannot see the reality of our increasingly safe waters.

With presidential approval now secured and the procurement process officially underway, the NSC is under immense pressure to deliver on a binding commitment reinforced by recently signed ministerial performance bonds.

These bonds are no longer ceremonial; progress is monitored quarterly, with agency budgets directly linked to concrete results, including moving from the historic 21-day clearance cycle down to a 48-hour target.

The ICTN is, in theory, a masterclass in transparency, serving as a digital fingerprint for every container from the Port of loading to the point of discharge.

For this vision to truly reach the shore, it must be the data engine fueling the National Single Window (NSW).

Since Phase One of that project launched on March 27, 2026, the mandate has been clear: move Nigeria toward a global-standard clearance cycle.

The ICTN provides the pre-arrival intelligence that allows the system to process cargo before the ship even berths. This “pre-arrival intelligence” turns the tide on security by flagging high-risk shipments at their Port of origin, neutralizing “cargo concealment” and ensuring that substandard products do not flood local markets.

The goal is to move from “maritime blindness” to a proactive shield that protects both the economy and the borders. Central to this transformation is the creation of the “Green Lane,” an elite operational tier for Nigeria’s most trusted traders.

By marrying the ICTN with the Authorised Economic Operator (AEO) program which fully replaced the old Fast Track scheme on February 1, 2026, the government has created a fast track corridor that rewards transparency with speed.

For Green Lane participants, physical inspections are waived at the point of import, allowing cargo to move straight from the quay to the warehouse in as little as 41 hours. This privilege is earned through rigorous validation by the AEO Helpdesk, ensuring that only firms with a clean security record and financial solvency can bypass the bottlenecks.

This system proves that security and efficiency are not mutually exclusive; by allowing trusted cargo to fly through, it frees up the Nigeria Customs Service to focus 100% of their physical resources on the “Red Lane” where the ICTN has flagged unverified shipments.

Nigeria’s digital upgrade has sent ripples through the Lomé-Cotonou-Tema corridor, intensifying the regional “Port War.” Historically, neighbouring Ports flourished by handling cargo diverted away from Nigeria’s manual systems.

As Nigeria finally leverages its weight, analysts project that neighbours could lose up to 25% of their traffic.

This shift is not just happening at the coast; the ICTN and NSW are transforming the hinterland through Inland Dry Ports (IDPs) like Funtua and Dala.

By digitizing the “umbilical cord” between the sea and the interior, cargo can now be tracked and cleared at dry Ports as if they were seaside terminals, supported by a paperless Enterprise Content Management platform.

The light is now on the shore. If the 2026 targets are met and the government ensures this system remains a “security and efficiency project” rather than a “revenue grab,” Nigeria will finally reclaim its economic sovereignty and its natural status as the maritime hub of Africa, South of the Sahara.

 

Chief Ibrahim Nasiru, a former General Manager, Corporate and strategic communications, NPA, writes from Abuja.

Continue Reading

Trending