Connect with us

Archives

FG to concession Abuja, Lagos, Kano, Port Harcourt airports

Published

on

  • Konecranes Drops Merger with Terex, Aims to Buy MHPS

Minister of State, Aviation, Senator Hadi Sirika, says the Federal Government will concession the Abuja, Lagos, Port Harcourt and Kano international airports in the first phase of its concession programme. Sirika disclosed this at the 2016 Aviation Stakeholders Forum on Monday in Abuja. “The thinking is that just like every other place in the world, we will concession our airports and we are beginning with the big four, Lagos, Abuja, Port Harcourt and Kano.

“It would have been ideal to take them to some level of acceptance for them to attract more. “But I think we just get those guys who believe that in Nigeria they can create a hub geographically given by God to come and put in their money and create this hub, build these airports, concession them, run them and make money out of them.’’

He said the current facilities at the airports did not meet international standard and best practices in the aviation industry, adding that private sector involvement was the way forward. According to him, if the government is able to concession the four airports successfully in the first phase, it will pay attention to providing infrastructure and developing domestic airports for optimal performance. Sirika also said that the state of the Abuja Airport runway was a source of concern. He said government may consider closing down the airport as form of safety precaution.

He said government was committed to upgrading the existing facilities at the airports as well as developing new strategy to repositioning the sector.

The minister also stated that a comprehensive security check and vulnerability assessment of the airports had been carried out to ensure that airports were properly secured. According to him, every huge major disaster in the world such as the Pearl Habour attack, September 11 attack on the U.S. among others, are aviation related disasters.

“Safety is the main focus in aviation because the time a passenger arrives airport, when he takes off and land is very important.

“We are developing a new security strategy in partnership with international security organisations and procurement of modern equipments,’’ he said.

Meanwhile, after they postponed their merger in February 2016, the Finnish manufacturer of cranes Konecranes Plc and US-based lifting and material handling company Terex Corporation now terminated the previous plan and sealed a deal for the sale of Terex’s Material Handling & Port Solutions (MHPS) segment.

Under the new agreement, valued at EUR 1.13 billion (USD 1.28 billion), Konecranes would acquire MHPS in order to improve its position in the Industrial Lifting & Port Solutions market, according to the company.

The deal, which is expected to close in early of 2017, will see Terex receive USD 820 million in cash and 19.6 million newly issued Konecranes class B shares, making the company a 25% shareholder.

Konecranes said that the deal “may be terminated by Terex prior to May 31, 2016,” if it enters into a merger agreement with Chinese Zoomlion Heavy Industries Science & Technology, in which case, it will compensate Konecranes with a termination fee of USD 37 million.

If the Konecranes shareholder approval is not obtained, Konecranes will be required to compensate Terex’s transaction expenses in the amount of up to USD 20 million.

“This acquisition will prove crucial to improving our position as a global partner in services, industrial lifting and port solutions, and at the same time create significant value for our owners,” Panu Routila, President and CEO of Konecranes, said.

The two companies announced their merger plans in August, 2015 after their Boards of Directors unanimously approved the merger which would have formed a company called Konecranes Terex Plc.

However, Terex and Konecranes decided to postpone their merger in February 2016, without revealing the reasons which prompted the decision.

At the time, the companies said that they would “continue to move forward with all necessary filings to achieve antitrust, regulatory and shareholder approvals that are required to complete the merger transaction”.

National Mirror with additional report from World Maritime News

Continue Reading
Advertisement Simply Easy Learning
2 Comments

Leave a Reply

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

two − two =

Archives

WAIVER CESSATION: Igbokwe urges NIMASA to evolve stronger collaboration with Ships owners

Published

on

…Stresses the need for timely disbursement of N44.6billion CVFF***

Highly revered Nigerian Maritime Lawyer, and Senior Advocate of Nigeria (SAN), Mike Igbokwe has urged the Nigeria Maritime Administration and safety Agency (NIMASA) to partner with ship owners and relevant association in the industry to evolving a more vibrant merchant shipping and cabotage trade regime.

Igbokwe gave the counsel during his paper presentation at the just concluded two-day stakeholders’ meeting on Cabotage waiver restrictions, organized by NIMASA.

“NIMASA and shipowners should develop merchant shipping including cabotage trade. A good start is to partner with the relevant associations in this field, such as the Nigeria Indigenous Shipowners Association (NISA), Shipowners Association of Nigeria (SOAN), Oil Trade Group & Maritime Trade Group of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

“A cursory look at their vision, mission and objectives, show that they are willing to improve the maritime sector, not just for their members but for stakeholders in the maritime economy and the country”.

Adding that it is of utmost importance for NIMASA to have a through briefing and regular consultation with ships owners, in other to have insight on the challenges facing the ship owners.

“It is of utmost importance for NIMASA to have a thorough briefing and regular consultations with shipowners, to receive insight on the challenges they face, and how the Agency can assist in solving them and encouraging them to invest and participate in the maritime sector, for its development. 

“NIMASA should see them as partners in progress because, if they do not invest in buying ships and registering them in Nigeria, there would be no Nigerian-owned ships in its Register and NIMASA would be unable to discharge its main objective.

The Maritime lawyer also urged NIMASA  to disburse the Cabotage Vessel Financing Fund (CVFF)that currently stands at about N44.6 billion.

“Lest it be forgotten, what is on the lips of almost every shipowner, is the need to disburse the Cabotage Vessel Financing Fund (the CVFF’), which was established by the Coastal and Inland Shipping Act, 2003. It was established to promote the development of indigenous ship acquisition capacity, by providing financial assistance to Nigerian citizens and shipping companies wholly owned by Nigerian operating in the domestic coastal shipping, to purchase and maintain vessels and build shipping capacity. 

“Research shows that this fund has grown to about N44.6billion; and that due to its non-disbursement, financial institutions have repossessed some vessels, resulting in a 43% reduction of the number of operational indigenous shipping companies in Nigeria, in the past few years. 

“Without beating around the bush, to promote indigenous maritime development, prompt action must be taken by NIMASA to commence the disbursement of this Fund to qualified shipowners pursuant to the extant Cabotage Vessel Financing Fund (“CVFF”) Regulations.

Mike Igbokwe (SAN)

“Indeed, as part of its statutory functions, NIMASA is to enforce and administer the provisions of the Cabotage Act 2003 and develop and implement policies and programmes which will facilitate the growth of local capacity in ownership, manning and construction of ships and other maritime infrastructure. Disbursing the CVFF is one of the ways NIMASA can fulfill this mandate.

“To assist in this task, there must be collaboration between NIMASA, financial institutions, the Minister of Transportation, as contained in the CVFF Regulations that are yet to be implemented”, the legal guru highlighted further. 

He urged the agency to create the right environment for its stakeholders to build on and engender the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders.

“Lastly, which is the main reason why we are all here, cessation of ministerial waivers on some cabotage requirements, which I believe is worth applause in favour of NIMASA. 

“This is because it appears that the readiness to obtain/grant waivers had made some of the vessels and their owners engaged in cabotage trade, to become complacent and indifferent in quickly ensuring that they updated their capacities, so as not to require the waivers. 

“The cessation of waivers is a way of forcing the relevant stakeholders of the maritime sector, to find workable solutions within, for maritime development and fill the gaps in the local capacities in 100% Nigerian crewing, ship ownership, and ship building, that had necessitated the existence of the waivers since about 15 years ago, when the Cabotage Act came into being. 

“However, NIMASA must ensure that the right environment is provided for its stakeholders to build and possess the needed capacities to fill the gaps; and ensure that steps are being taken to solve the challenges being faced by stakeholders. Or better still, that they are solved within the next 5 years of its intention to stop granting waivers”, he further explained. 

Continue Reading

Archives

Breaking News: The Funeral Rites of Matriarch C. Ogbeifun is Live

Published

on

The Burial Ceremony of Engr. Greg Ogbeifun’s mother is live. Watch on the website: www.maritimefirstnewspaper.com and on Youtube: Maritimefirst Newspaper.

Continue Reading

Archives

Wind Farm Vessel Collision Leaves 15 Injured

Published

on

…As Valles Steamship Orders 112,000 dwt Tanker from South Korea***

A wind farm supply vessel and a cargo ship collided in the Baltic Sea on Tuesday leaving 15 injured.

The Cyprus-flagged 80-meter general cargo ship Raba collided with Denmark-flagged 31-meter wind farm supply vessel World Bora near Rügen Island, about three nautical miles off the coast of Hamburg. 

Many of those injured were service engineers on the wind farm vessel, and 10 were seriously hurt. 

They were headed to Iberdrola’s 350MW Wikinger wind farm. Nine of the people on board the World Bora were employees of Siemens Gamesa, two were employees of Iberdrola and four were crew.

The cause of the incident is not yet known, and no pollution has been reported.

After the collision, the two ships were able to proceed to Rügen under their own power, and the injured were then taken to hospital. 

Lifeboat crews from the German Maritime Search and Rescue Service tended to them prior to their transport to hospital via ambulance and helicopter.

“Iberdrola wishes to thank the rescue services for their diligence and professionalism,” the company said in a statement.

In the meantime, the Hong Kong-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering.

Sumitomo is to deliver the Aframax to Valles Steamship by the end of 2020, according to data provided by Asiasis.

The newbuild Aframax will join seven other Aframaxes in Valles Steamship’s fleet. Other ships operated by the company include Panamax bulkers and medium and long range product tankers.

The company’s most-recently delivered unit is the 114,426 dwt Aframax tanker Seagalaxy. The naming and delivery of the tanker took place in February 2019, at Namura Shipbuilding’s yard in Japan.

Maritime Executive with additional report from World Maritime News

Continue Reading
ADEBAYO SARUMI: Doyen of Maritime Industry Marks 80th Anniversary, Saturday 

Editor’s Pick

Politics