BUSINESS
APM Terminals Seeks Help as 616 Abandoned Export Containers Litter Port
From Anthony Nwachukwu, Lagos
Operators of the APM Terminal Apapa have cried out to regulatory authorities as no fewer than 616 export containers have been abandoned inside the terminal for about 1000 days, causing both space constraint and economic losses.Disclosing the company’s plight to the Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Mr.
Pius Akutah, the Terminal Manager, Mr. Steen Knudsen, said the terminal derives value from export cargoes they are shipped out within the best possible time.However, “as we speak, we have 616 export-laden containers that have spent between 31 and 1000 days inside our terminal. This impacts our ability to receive more export containers because we have to do multiple re-handling of these export containers,” he stated.To end the ugly trend, Akutah said he would meet with the Nigerian Ports Authority (NPA) “and other relevant stakeholders to see how we can stop this abandoning of export boxes inside the port. In this period when the government is looking at improving the nation’s export potential, all hands must be on deck.”Knudson had explained that the company derives value from export operations only “when export cargoes arrive and are shipped out of the terminal by the shipping companies within the shortest period, not where export boxes arrive and just sit here inside the port for years.”Lamenting the lack of strict compliance with the process, Knudsen stated that the NPA has established Export Processing Terminals (EPTs) to handle export goods.However, “we still see trucks carrying export cargoes heading straight to the port without going through these EPTs. That’s why many of them get into the port and get abandoned because they have not gone through the normal process before entering the port.“These export containers might not end up leaving the port because they have spent close to three years inside the port. Most of their contents would have lost value.”He further explained that export cargoes that by-passed the EPTs were not turned back because “once a truck bringing in an export container arrives at our gate, it is difficult to turn such a container back due to our location.“It is when the container gets into the port and the various government agencies run necessary checks that it is discovered to have not gone through the right processes. At this point, it is left inside the port.“What we have been able to do now is to extend that checking area up to the NPA Gate so that any truck coming in with an export container without going through the normal process can be turned back from that point.”He regretted that the absence of a laid-down auction process for export containers by the Nigeria Customs Service has led to some abandoned containers lying in the port for about three years.
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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