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Vol. 16 No. 1655 MONDAY, NOVEMBER 14, 2022
SHIPS PORTS
D A I L Y
...the voice of the maritime industry
NPA, NIMASA
NPA, NIMASA
heads earning
heads earning
more than
more than
President
President
Buhari
Buhari
— RMAFC
— RMAFC
NPA, NIMASA
heads earning
more than
President
Buhari
— RMAFC
MT Heroic Idun
crew members
seek to block
extradition to
Nigeria
Qatar charters
Qatar charters
cruise ships to
cruise ships to
lodge World
lodge World
Cup fans
Cup fans
Qatar charters
cruise ships to
lodge World
Cup fans
STOAN
Chairman
Princess
Haastrup
mourns late
Otunba Kunle
Folarin
Forex crisis: Nigeria's used
car import drops by 51%
released by the National
BureauofStatistics(NBS).
The 2022 first half figure
also represents a decline of
37.7% when compared to the
N271.2bn spent in importing
second-hand cars into the
the N177.6bn spent for the
same reason in the second
halfof2021.
M a n y i m p o r t e r s
attributed the drop in
vehicular and motorcycle
imports to the rapidly
country in the second half of
2021.
A l s o , N i g e r i a n s
imported motorcycles valued
at N122.39bn between
January and June 2022,
which is 31.1% lower than
he value of used
Tcars imported by
Nigerians dropped by 51.2%
from N346.29bn in the first
half of 2021 to N169.1bn in
the first half of 2022,
according to recent data
levels since the first half of
2018 when Nigerians spent
N59.1 billiononused cars.
Due to the surging cost
of importing foreign used
declining value of the naira
against major international
currencies especially the US
dollars.
The latest NBS figures
show that Nigeria's car
imports fell to the lowest
WINNER
BEST
MARITIME
MEDIA
AWARD
INSIDE
CONTINUES OF PAGE 3
Managing Director of Nigerian PortsAuthority (NPA), Mohammed Bello-Koko (left)
receives the Ships & Ports Maritime Cup recently won by the NPAKoko Marines from
theGeneral Manager Human Resources,Ahmad Umar.
The victorious Koko Marines in a group photograph with the management staff of
NPA.
President of theWorld Maritime University, Dr. Cleopatra Doumbia-Henry, with the Managing Director of Nigerian PortsAuthority, Mohammed Bello-Koko (left) and with the
DirectorGeneral, Nigerian MaritimeAdministrationand SafetyAgency(NIMASA), Dr.Bashir Jamoh (right) when she visitedboth agenciesin Lagos lastweek.
MONDAY, NOVEMBER 14, 2022
What is your take on CBN’s plan to redesign major naira notes?
he decision by the Central Bank of Nigeria
T(CBN)toredesignsomenewnairanotesisnotan
economic priority and will not solve the nation’s monetary
policy challenges. There are so many things to focus on at
the moment and not redesigning of naira notes. This will
affecttheeconomyandcauseinflationinthenation.
Lanre
Lagos
disagree with the CBN governor on the two main
Ifactors raised by him on why the naira notes are to
be redesigned. Nigeria’s inflation is beyond monetary
policy and it is structural in nature. Money supply is a
simple economic term. If there is too much money
chasing a few goods, there will be inflation. But the
problem of Nigeria’s inflation is not a monetary problem,
it is structural. Changing the money or reducing the
money supply will not change anything because we have
a large population and a very weak production capacity.
Industries have been closing down and no electricity. The
price of diesel that you use as an alternative for your
industry has skyrocketed to almost N1000 per litre. How
can you produce? The argument that the policy will
disrupt the hoarding of naira by criminals such as bandits,
kidnappers, and terrorists; who told you the criminals are
keeping their money in naira? This criminality you see —
this banditry, armed robbery, kidnapping, Boko Haram is
an organised international crime. Do you think ordinary
Fulani illiterates can kidnap, organise ransom and get
away with it? There is a better brain behind them. That is
why the value of the naira continues to fall. People buy
dollars not necessarily to import but as a store of value
and as a means to keep the proceeds of criminality.Who is
keepingnaira?Governmentis beatingadeadhorse.
Adeolu
Lagos
ntroducing this new policy, there will be control of
Isupply of money. This means that consumption
will reduce. If consumption declines, production will
reduce and employment will reduce as a result of laying
off. This means you are mortgaging effective demand for
autonomous consumption. That is a catastrophe and will
lead to criminality. Those who advised the president and
the CBN governor to take such action were being
mischievous considering that the nation is at a transition
point. In the short run, the policy will have a negative
impact on rural entrepreneurs and business people who
have been involved in a cash-based economy. It will also
affect politicians, who may be stockpiling cash to
distributetosupporters.
Dare
Abuja
This is a welcome development. It will help the
economy. The people that will be affected are all those
crooks, corrupt and dubious politicians and other elites
stocking monies in their house stores, empty water tanks
and soakaways, will have no choice but to go and deposit
those cash in the banks or else they will lose it all when the
deadlinefor theoldnairadepositpasses.
Miriam
Ilorin
he decision by the Central Bank to redesign
Tcertain currency, particularly the higher
denominations susceptible to hoarding by dubious and
thieving politicians to use for vote buying in the
forthcoming elections should be welcomed news to all
well-meaning Nigerians. Often Nigerians complain that
institutions fail to do their jobs to foster credibility in the
government and yet when the CBN did just that but there
doesn’t seem to be a lot of enthusiasm among the people.
That’s strange. Any Nigerian who has nothing to hide
should welcome this policy. And I must add that the
Finance Minister’s claim of ignorance about the policy is
simply ridiculous.There’s a difference between not being
informed about the policy and not agreeing to it, and it
appears what we have here is the latter. The question
thereforeis why didn’tshe approveof thepolicy?
Bosah
Lagos
t’s a welcome development and a big leap to the
Ifight against politicians expensive spending
during and outside election periods. It will also work
against many criminals and politicians who degrade our
currency by hoarding them. Another issue is the
timeliness. Naira is poised to suffer more in the coming
weeks if they don’t get their acts together. The result is
ordinaryNigerianbearsmorepain.
Elijah
Ibadan
he non-harmonious working of this
Tgovernment shows ineptitude at the highest
level. I do not agree that it is right to just wake up one day
and decide to change the naira notes. I believe anything
that has to do with the national economy ought to be
debated exhaustively before doing it. It is also coming at a
wrong time when there is no money in the government
coffers. It cost a lot of money to print naira notes. Who
funds it? If it has not been printed I think it should be on
holdfor now.
Elizabeth
Lagos
his is a welcome development and such
Tmeasures should be taken more frequently.
When central banks do this, they try to pull in monies
people are hiding; illegal money, corruption money,
kidnapping money. Nigeria has managed to become a hub
for these kinds of illegalities. There are many people
sitting on billions in naira, and even in dollars. The CBN
should alsoseehow itcanpullinthedollars.
Mayowa
Lagos
his is a good move by CBN governor. Naira
Tredesign will not undermine our economy; it
will only help in strengthening the naira both at the
official and parallel markets. I know it will bring doom
and gloom to illegal hoarders of naira currency. There is
never a good time for policies of this type because the
country needs to get it done and move ahead for our
economy be get better. I must say that the disagreement
between the Minister of Finance and CBN governor over
the matter is not surprising and also occurs in developed
countries. It is just that the way it has played out in public
is rather unfortunate. The basic functions of the CBN
cannot be carried out without the Ministry of Finance,
which is in charge of the national budget and if for any
reason the CBN works without the required alignment
with the fiscal authority and other Ministries,
Departments and Agencies, it would only amount to
winning economic battle while losing economic warfare.
Thus, the CBN is not expected to make policy decisions
that affect the economy without input from the Ministry
ofFinance.
Patrick
Lagos
think the decision to replace some naira
Idenominations with new ones will be positive for
the economy in the medium to long term. First, although
the measure does not amount to demonetisation of big
currency notes often carried out by central banks to curb
black money and corruption, it will go a long way in
ensuring that a lot of naira notes circulating outside the
banks are crowded in. If it leads to large deposits in banks,
it means the banks will have more money to lend, which
may reduce interest rates. I also think it may have the
effect of reducing speculative attacks on the naira in the
parallel market. I expect that the Financial Intelligence
Unit will be on the watch out for huge deposits as a way of
monitoring illegitimate transactions. Despite the huge
cost involved in changing currency notes, I think it’s time
to sanitise the system, especially now that electioneering
activities have kicked off. However, I think the deadline
of January 31, 2023 is short in view of the number of naira
denominations involved from N200 to N1,000. The CBN
mayconsiderextendingitwithtime.
Alex
Abeokuta
think it is just a legacy for the central bank
Igovernor. Countries change or update their
currencies all the time and it is just refreshing mainly to
fight counterfeiting and to incorporate new tech or
security features in notes. Minus the administrative
hiccupsandstress, itis justanotherexercise.
Deji
Ilorin
The decision will be positive for the economy in the
medium to long term. The measure would go a long way
to ensure that the naira in circulation outside the banking
system are brought into the banking system. The measure
would also provide enough liquidity for banks, and more
money for the banks to lend. It does not amount to
demonetisation of big currency notes often carried out by
central banks to curb black money and corruption.
Perhaps more importantly, with increased currency in
circulation now in the vault of banks, I expect to see
improvementinmonetarypolicytransmission.
Austin
Abuja
edesigning the naira is not the most important
Rproblem facing the economy in a time like this
where there is double-digit inflation, insecurity,
dwindling reserves and pains on Nigeria. The only thing
the government is thinking is how to redesign the
currency and giving a deadline of December. Why the
urgency if not to loot money for election? Who else
spends naira aside Nigerians? And what value is
redesigning of naira bringing at this point, and we may
even go to borrow dollars to print the naira. Is the cost
budgetedforin2022 budget?Thisis sheerwickedness.
Abel
Lagos
PAGE 2
Terminal in Nigeria early that
he would be in the country's
high-risk piracy zone, thus, he
obtained permission to stay
around 200 miles offshore
waiting final confirmation of
the load port laycan and that
these instructions were
confirmedonAugust 4.
The applicants averred
that on August 8, following
arrival, the Vessel was
ordered by the Terminal to
move outside of the 10nm
Maritime Identification Zone
of the Terminal because cargo
n o m i n a t i o n s o r n a v a l
clearances for the Vessel had
yettobeprovided.
They averred that about
9p.m., the Vessel was
contacted by the Terminal
security and was informed
that there may be a Nigerian
naval vessel approaching
them.
They averred that when
the Nigerian Navy told them
to follow it to the Bonny
f a i r w a y b u o y f o r
investigation, MT Heroic
Idun declined because its
Master feared that moving
close to the Nigerian shore at
night was too risky because of
piracyconcerns.
They averred that there
was also confusion over the
name of the Nigerian vessel
which at that time was
misspelt as “Agola” and
could not be found on Google
as a registered naval vessel
and the agents were also
contacted, and they too
advised not to follow the
orders ofthevessel.
They added that the
Navy vessel was requested to
turn itsAIS on but did not, this
caused further concerns on
board MT Heroic Idun and
ashore and the master decided
to move out of the area at full
speed whilst the situation
continuedtobeassessed.
The applicants noted
that the Nigerian Navy
subsequently issued a press
release confirming that no oil
was loaded and that theVessel
hasbeenheldeversince.
The claimants averred
further that the interdiction
by EG was unlawful and
breached UNCLOS Articles
58, 87, 97 and 100 relating to
innocent passage and the
right to be on the high seas
withoutinterference.
“Further, it was carried
out without any request being
made to Flag which is a pre-
r e q u i s i t e p r i o r t o a n
interdiction and boarding at
sea although in this case, the
navy was not able to get on
boardbecauseof theweather.
“The Marshall Islands
has instigated Arbitration
proceedings under the
judicial procedure set out in
UNCLOS for damages and to
ask for Provisional Measures
namely the immediate release
of theVessel and crew.ANote
Verbale is being served on the
EG Embassy in Washington.
This is an action by the Flag
state and could lead to a
judgment against EG for
damages.”
The Nigerian Navy on
August 19, 2022 debunked
allegations that MT HEROIC
IDUN was loaded with three
million barrels of stolen
crude.
The Navy alleged that
the vessel invaded the Akpo
Oil Field without any form of
authorisation or clearance,
but fled without lifting any
crude when it sensed the
presence of a navy vessel
before it was apprehended at
Bioko Island in Equatorial
Guinea.
“The brazen act of
defiance to constituted
authority by the captain of the
vessel necessitated the
Nigerian Navy to invoke the
c o l l a b o r a t i o n o f
neighbouring Equatorial
Guinea through the Yaoundé
Architecture to arrest the
vessel as we noticed that it
stopped making way in the
Equatoria Guinea waters,”
Chief of Policy and Plans,
N i g e r i a n N a v y, R e a r
Admiral Saidu Garba, had
said.
MONDAY, NOVEMBER 14, 2022
MT Heroic Idun crew members seek to block extradition to Nigeria
from the owners for loading
at Akpo Terminal in Nigeria
(Terminal) with laycan (dates
for loading) ofAugust 17 and
18.
And On August 4, 2022,
t h e C h a r t e r e r s / S u b -
Charterers instructed the
vessel to proceed to the
Terminal and following that
to Ceiba Marine Terminal to
load a cargo of crude oil and
then to Rotterdam in Holland
to discharge the cargo,
following which laycan was
fixed or narrowed to August
8,2022.
They averred that the
sub-charterers BP likely
failed to inform the Terminal
of this change and/or to
ensure that the correct
paperworkwas inplace.
They stated that the
vessel Master was concerned
that if he arrived at the Akpo
the vessel and crew were
unlawfully arrested by the
Equatorial Guinea Navy
under pressure from the
NigerianNavy.
MT Heroic Idun, with 26
persons onboard comprising
16 Indians, eight Sri Lankans,
one Pole and one Filipino was
arrested on August 22, 2022,
by the Equatorial Guinea
Navy shortly after the vessel
leftNigerianwaters.
Fearing their unlawful
removal from Equatorial
Guinea to Nigeria on the
Nigerian Navy's request, the
26 applicants and the vessel
filed a fundamental rights
enforcement suit at the court
i n s u i t
FHC/ABJ/C8/2058/2022
t h r o u g h t h e i r c o u n s e l
Babajide Koku SAN, praying
thecourttointervene.
The applicants averred in
an affidavit in support of the
originating application, that
on July 18, 2022, the
Charterers of the vessel
requested a Letter of Comfort
he crew members
Tof crude oil carrier
MT Heroic Idun have asked a
Federal High Court sitting in
Abuja to stop the Nigerian
government from executing
its extraordinary rendition of
the vessel from Equatorial
GuineatoNigeria.
The crew claimed that
there is no extradition treaty
between Equatorial Guinea
and Nigeria, hence any
alleged attempt to pressure
the CentralAfrican country to
remove them to Nigeria
would be illegal and an
infringement on their rights
u n d e r N i g e r i a n a n d
internationallaws.
It described as false, the
Nigerian Navy's claim that
MT Heroic Idun attempted to
illegally load crude oil from
Akpo Terminal in Nigeria,
noting in particular, that the
Navy admitted in a statement
on August 19, 2022, that it
found no crude oil on MT
HeroicIdun.
They alleged further that
NPA,NIMASAheadsearningmorethanPresidentBuhari—RMAFC
h e M a n a g i n g
TD i r e c t o r o f
Nigerian Ports Authority
(NPA), Director-General,
N i g e r i a n M a r i t i m e
Administration and Safety
Agency (NIMASA) and
Governor, Central Bank of
Nigeria (CBN) earn more
than the President of
Nigeria, according to the
Revenue Mobilisation
Allocation and Fiscal
Commission(RMAFC).
The commission also
listed the Nigerian National
P e t r o l e u m C o m p a n y
Limited (NNPC), the
Federal Inland Revenue
Service (FIRS) and the
Nigerian Communications
Commission (NCC) as
g o v e r n m e n t - o w n e d
enterprises with salary
structures outside of the
mainstream public service
salarystructure.
RMAFC Chairman,
Mohammed Shehu, said at
the weekend that the
c o m m i s s i o n w o u l d
therefore embark on the
review of public officials'
package for the president,
governors and legislators.
And contrary to what a lot of
p e o p l e b e l i e v e t h a t
legislators and senators have
jumbo salaries, there is no
legislator, no senator, no
minister that earns over N1
million a month in Nigeria,”
hesaid.
He said the salary
r e v i e w e x e r c i s e h a s
r e c e i v e d P r e s i d e n t
Muhammadu Buhari's nod.
“This is not good for
Nigeria. The President is
the President and there has
to be a way these things
a r e a d e q u a t e l y
harmonised in a manner
t h a t s o m e c h i e f
executives will not get a
salary higher than that of
the president or governors.
“I don't believe that
any public officers whether
CBN or any other agency
should have a package
higher than that of the
President of the Federal
Republic of Nigeria. I think
this is not good for the
system,” he stated.
salary higher than that of the
President of the Federal
Republic of Nigeria? But
this is what it is. You have
the NCC, NPAand the CBN
Governor. Do you know
that the severance package
of a CBN governor is higher
than that of a sitting
President?” he queried,
noting that the situation was
abnormal.
“There are lots of
lapses there, so this is what
has informed us to do this
exercise now. It is not true
that we are just trying to
release a bonus or a jumbo
p a y i s b e c a u s e i t i s
unacceptable for any
public official to earn more
than the President of the
country.
S p e a k i n g o n a
television programme
monitored by SHIPS &
PORTS, Shehu stated that
the multiplicity of salary
structures in the public
service in the country was
being reviewed by his
commission. “A lot of
Nigerians are not aware that
there is disparity. Why
should any chief executive
of a public office earn a
Buhari
FishingtrawlersinksaftercollidingwithMSCcontainershipinLagos
The Commander of
N N S B E E C R O F T ,
C o m m o d o r e M a l a m i
Haruna, urged seafarers
“to navigate with caution
and due consideration to
t h e i n t e r n a t i o n a l
regulation for prevention
of collision when transiting
w i t h i n t h e n a t i o n ' s
maritime domain”.
H e r e s t a t e d t h e
commitment of the Chief of
the Naval Staff, Vice
Admiral Awwal Gambo
towards ensuring the
security of all seafarers
within Nigeria's maritime
space.
sister trawler OLOKUN IV
in the Lagos channel when
it ran into the 5,550 TEU
M a l t a - fl a g g e d
containership.
The Nigerian Navy
Ship BEECROFT, which
was on a routine patrol
around the area of the
accident, rescued 10 crew
members of the fishing
trawler.
The rescued crew
members were thereafter
handed over to the officials
o f B a r n a l y F i s h i n g
Company Limited, which
owned and operated the ill-
fated trawler.
c o n t a i n e r s h i p , M S C
CORUNA, in the Lagos
channel.
The fishing trawler
was being towed by its
PAGE 3
CONTINUED FROM FRONT PAGE
vehicles, dealers have
reduced their orders even as
the unit costs of the vehicles
have increased by almost
50%inthepastoneyear.
Many importers said
they source forex from the
black market due to the
inability of the Central Bank
of Nigeria (CBN) to meet
theirforexdemands.
The naira recently
crashed to N870 to the dollar
at the black market while the
official exchange rate was
N440.53 tothegreenback.
Forex crisis: Nigeria's...
ANigerian fishing
trawler named
OLOKUN XII capsized on
Monday morning after
c o l l i d i n g w i t h a
The Minister of
Aviation, Hadi
S i r i k a s a i d P r e s i d e n t
Muhammadu Buhari would
i n n o d i s t a n c e t i m e
commission the completed
cargo terminal project at the
N n a m d i A z i k i w e
InternationalAirport,Abuja.
Sirika, who made the
disclosure while responding
to questions raised by the
H o u s e C o m m i t t e e o n
Aviation when he appeared
before it for the defence of the
ministry's 2023 budget
proposal, also disclosed that
the Economic and Financial
Crimes Commission (EFCC)
had concluded investigation
into the second Abuja airport
cargo terminal project
abandoned by contractors
after receiving 75 per cent
advancepayment.
He stated that the
Nigerian national air carrier
would take off before the end
of the year with boing 737 for
domestic operations while
international operations
would beintroducedlater.
“There are two cargo
projects in Abuja. One has
been completely finished and
will be commissioned by His
Excellency Mr. President
soon. The second one, the
contract was given in 2012,
t h e c o n t r a c t o r s w e r e
advanced money up to about
75 per cent. These contracts
were abandoned by the
contractors. Mr. President
d i r e c t e d t h a t t h e y b e
investigated, prosecuted and
the monies recovered but
because we don't have
prosecuting powers, we
reported to EFCC. Now in the
last three and half years, they
confirmed to me that they
h a v e fi n i s h e d t h e
i n v e s t i g a t i o n . T h i s i s
worrisome. We will inform
the House when we see
EFCC and they brief us
formally,”hesaid.
Sirika said the Aviation
M i n i s t r y r e c o r d e d
“significant achievements in
virtually all areas of the
sector” within the life of the
presentadministration.
“We have provided the
safety and security needed in
the aviation sector, which has
led to the certification for the
first time ever in the history of
the country of Muritala
Mohamed Airport, Nnamdi
Azikiwe International
airport. It is a milestone being
the first ever airports to be
certified, government in,
government out. This
testimony as to our concern to
our focus on safety. We have
recorded the highest level of
safety and unprecedented
growth, making aviation the
fastest growing sector of the
Nigerianeconomy.
“Today Nigeria is the
seventh highest country in
recovery from COVID. Some
airlines also received
interventions to be saved
from total collapse. We also
c r e a t e d a n e n a b l i n g
environment, which provided
airlines in the country to
attain certification and
international air transport
association operational
safety audit. Our airports are
wearing new and befitting
looks,”hefurtherstated.
However, the Chairman
of the Committee, Nnolim
Nnaji, expressed concern
over the omission of one of
the critical security and safety
agency of the Ministry, the
N i g e r i a n A i r s p a c e
M a n a g e m e n t A g e n c y
(NAMA) from the 2023 from
thefederalbudget.
MONDAY, NOVEMBER 14, 2022
STOAN Chairman Princess Haastrup mourns late Otunba Kunle Folarin
The STOAN Chairman
urged the family to take
solace in the understanding
thattheirlatepatriarchliveda
fulfilled life and contributed
e n o r m o u s l y t o t h e
development of the maritime
industryandthecountry.
“Otunba Folarin was
steadfast in his service to the
maritime industry having
served in one of the most
s e n i o r m a n a g e m e n t
p o s i t i o n s i n A l r a i n e
Shipping. He later devoted
his life to the wellbeing of
seafarers through his
selfless and unparalleled
service as Chairman of
the National Seafarers
Welfare Board (NSWB)
and also as Chairman of
t h e N i g e r i a n P o r t s
Consultative Council
(NPCC). The role he
played in the maritime
industry will remain
i n d e l i b l e f o r m a n y
generations to come,” she
said, even as she prayed
that God Almighty grants
his soul eternal rest.
of late Otunba Kunle
Folarin who died in Lagos
onTuesdayattheageof 82.
Until his death, Otunba
Folarin was the Chairman of
t h e N i g e r i a n P o r t s
Consultative Council
(NPCC) and Chairman of
the National Seafarers
WelfareBoard(NSWB).
In a statement released
by the association on
Thursday, the STOAN
Chairman described the late
O t u n b a F o l a r i n a s a
“maritime colossus” who
made “significant impact”
across various sections of
themaritimeindustry.
“I am truly saddened
by the death of this great
m a n . O t u n b a K u n l e
Folarin's exit at this time
will create a great vacuum
inthemaritimecommunity.
“ H e w a s a n
accomplished maritime
expertandadministrator,and
a repository of maritime
knowledge. His death will be
felt far beyond the maritime
industry,”Haastrupsaid.
Nigeria (STOAN), Princess
V i c k y H a a s t r u p h a s
commiserated with the family
Th e C h a i r m a n ,
Seaport Terminal
Operators Association of
BuharitocommissionAbuja
airportcargoterminalsoon,
saysMinister
between Bright Waters
Energy Limited (plaintiff)
and the HonourableAttorney-
General and Commissioner
for Justice, River State, the
Hon. Commissioner of
Environment, Rivers State
and Petroleum Financial
C o r p o r a t e ( P F C ) a s
(defendants),” the statement
read.
There has been a running
battle for control of the
waterways between some
states and the Federal
Government. A case between
the Lagos State Government
and the Federal Government
on the control of waterways in
the state is awaiting the ruling
oftheSupremeCourt.
WorldMaritimeUniversityPresidentvisitsNPA,NIMASA
resident of the
PWorld Maritime
University (WMU), Dr.
Cleopatra Doumbia-Henry,
has visited the Nigerian Ports
A u t h o r i t y ( N PA ) a n d
N i g e r i a n M a r i t i m e
Administration and Safety
Agency(NIMASA).
WMU is a Sweden-
based postgraduate university
founded by the International
Maritime Organisation
(IMO).
Nigeria has the highest
number of government-
sponsored students at the
WMU.
The Managing Director
of NPA, Mohammed Bello-
K o k o , w h o r e c e i v e d
Doumbia-Henry and her team
at the NPA headquarters in
L a g o s , r e i t e r a t e d t h e
Authority's resolve to
leverage its relationship with
the global institute to develop
talents.
“We have been tapping
the agency especially under
his leadership. We have
observed that in the number
of female officers of the
agency that are sent to the
WMU for maritime studies,”
shesaid.
R e s p o n d i n g , t h e
D i r e c t o r G e n e r a l o f
NIMASA, Dr. Bashir Jamoh,
s a i d , “ O u r c o n t i n u e d
relationship with the World
Maritime University is
informed by the agency's
c o m m i t m e n t t o
professionalism, research and
development as well as
striving to attain global best
practices in carrying out our
responsibilities. This informs
our choice of WMU when
sending some of our staff to
the institution for further
training. We have a deliberate
policy in line with the
International Maritime
Organisation to encourage
more female participation in
maritime.”
achieving results evidenced
b y g r o w t h i n c a r g o
throughput at Onne port and
vessel calls in Calabar port
have benefitted from the
insights of the WeCAPS
team, and our doors remain
open to more ideas and
partnership that will enable
us optimise those strategic
nationalassets,”hesaid.
At NIMASA, the WMU
President commended the
agency for its policy on
inclusiveness and gender
equality.
“We here at the World
Maritime University have
had a long, mutually,
beneficial relationship with
Nigeria and NIMASA in
particular. Our visit is to
further strengthen the ties
between ourselves while
exploring areas of future
collaboration.
"I also wish to especially
congratulate Dr. Jamoh for
the gender inclusive nature of
the knowledge of our
employees who are alumni of
t h e Wo r l d M a r i t i m e
U n i v e r s i t y i n t h e
implementation of our
ongoing efforts at deepening
efficiency in our operations
by getting them to cascade
skills and competencies
gained to organisational
advantage. For instance,
t h e B a l l a s t W a t e r
Management desk we
established is headed by an
alumnus of the WMU,”
Bello-Kokosaid.
The NPA Managing
Director commended the
WMU for supporting the
Authority under the Western
and Central Africa Port
Security (WeCAPs) project,
which is a crucial part of the
University President's
itinerary whilst in the
country.
"Our relentless efforts at
improving channel security
in the eastern ports which are
KatsinaCustomsCommandgeneratesN500minsevenmonths
He said the command
made 21 seizures worth
N77.8 million during the
period.
billion worth of exported
items all passed through the
Jibia border so far,” Chedi
said.
worth of exported items were
also transported through the
border corridor within the
period.
T h e F e d e r a l
Government reopened the
Nigeria/Niger Republic
border at Jibia, Jibia Local
Government Area of Katsina
StateinApril.
“Customs in Katsina has
recorded over N500 million
from the day the Jibia border
was reopened and over N5
he Katsina Area
TCommand of the
Nigeria Customs Service
(NCS) has generated N500
million as revenue seven
months after the reopening of
the Nigeria/Niger Republic
b o r d e r a t J i b i a L o c a l
GovernmentAreaof thestate.
T h e c o m m a n d ' s
controller, Dalha Wada Chedi,
who disclosed this on Monday
while briefing journalists in
Katsina, said over N5 billion
Courtbarsstatesfromcontrolofinlandwaterways
Wa t e r w a y s A u t h o r i t y
(NIWA) by virtue of the
constitution and the Act
establishing NIWA by the
NationalAssembly.
“The judge gave the
order in the Suit No:
F H C / P H / C S / 1 4 2 / 2 0 2 2
no authority/power to
legislate on (and enforce
compliance of its legislation
t h a t a f f e c t ) t h e u s e ,
management and control of
Inland waterways in Nigeria
as it is exclusively within the
control of National Inland
Federal High
AC o u r t i n P o r t
Harcourt, Rivers State, has
r e p o r t e d l y r u l e d t h a t
management and control of
Inland waterways in Nigeria
remains exclusively within
the control of the National
Inland Waterways Authority
(NIWA).
N I WA s p o k e s m a n ,
Jubril Darda'u, disclosed this
inapress statement.
“The Federal High
Court of Nigeria in the Port
Harcourt Judicial Division
holding at Port Harcourt
before his Lordship Hon.
Justice I.S Mark in his
judgment recently orders
that a state government has
PAGE 4
Folarin
Sirika
MONDAY, NOVEMBER 14, 2022
How does it feel winning in the 2022 Maritime Cup Competition?
Every winner is happy, excited
and in a light mood. I am
happy for my team and
organization because this victory is
image boosting. Nigerian Ports
Authority is a pioneer football and
sports encouraging organization from
inception, the NPA sports club
happened to be the first secretariat in
1946 for the Nigerian coaches
association. It is an organization that
encourages sports knowing fully well
that a healthy workforce is encouraged
by sports and participation in exercises.
Subsequently, we will continue to give
a good showing of ourselves ensuring that we participate in the spirit of networking,
recreation, unity, bond building that this competition is meant for but most importantly to
ensure that we give a good account of ourselves in subsequent competition. There were
challenges faced like getting players to leave their working beat to come out for training;
getting them to succumb to the dictates of the coaches (because when people are earning salary,
it is not always easy to control them), we were able to surmount it because of the interest of the
gameandformostoftheplayers,footballistheirhobby.
ISSUES IN THE NEWS
ISSUES IN THE NEWS
ISSUES IN THE NEWS
Charles Okaga
Compiled by Oluwatoyin Amao
Imust say we deserve winning the
competition and I knew from the
first match in this tournament that
my team will win because there is
teamwork, unity, love between the
players and we understand each other
strengths and weaknesses. There were a
lot of challenges faced while preparing
for the tournament but I must say it paid
off in the end. We will continue to make
the managing director proud by
winning in subsequent competitions.
The organizers of the tournament
should keep getting better yearly and
also other organizations in the maritime
sector should support them and this can
be done if there is a lot of awareness via
socialmedia,television,radioetc.
Ibifubara Dagogo
Iam excited and overwhelmed.
Winning this competition is a great
deal for us the players and even the
organization at large and I must say we
are proud of ourselves. A lot of
hardwork was put into this and I must
say personally the management of NPA
tried a lot to see that the efforts of the
players was not put to waste. Can you
believe I came all the way from Calabar
port to join the players and all
transportation and accommodation was
taken care off by the management and I
love the fact that my team accepted me.
I want the organizers to please look into
thetimingofthematches.Itwouldbeniceifthematchescanbefixedinthemornings.
Mubarak Usman
Ifeel very excited. I must say this is
not luck because my team were
prepared for this and we got to win.
A l o t o f h a r d w o r k , e n e rg y,
commitment, unity was put into this
and our effort was crowned with
victory. We faced challenges when
preparing for the competition because
some of us are new players who havent
played for a long time, so the idea of
selecting players from each department
of the organization was demanding
because at first there was no unity but as
time goes by we became friendly with
each other and getting ourselves to be
unified was one hurdle I am glad we surpassed. Also, I would love my team to
keep winning because it doesnt get easier, hoping that in the next years competition we will
becomechampionsagain.
John Matthew
Ifeel very happy winning an award
despite been on the losing side. I
did my best from the beginning of
the tournament to the end. So many
challenges were faced during the
preparation of the competition because
there was no 100% support from the
management of my organization but all
team members had to support
t h e m s e l v e s a n d s e e t h a t t h e
organization was well represented at
the tournament. The purpose of every
team in any tournament is to win and I
am sure that in the next tournament, we
will put in our best and work hard to see
thatwewin.
Augustine Chibuzor
Ifeel so happy receiving this
award because I never expected
it.This is my first time playing for
Nigerian Navy and I must say I love
my team because they all put in so
much hard work, sacrificing their
time and making sure they are
committed to the game and as you can
see Navy came all out to support their
players and I give kudos to the
management of Navy. I want to thank
the organizers for putting all this
together and I want to use this
m e d i u m t o a s k g o v e r n m e n t
parastatals in the maritime sector to
encourage and support Ships & Ports
in making this competition a grand
one.
Iseoluwa Ayetoba
Ifeel very happy my team won the
competition. The players have
been in the camp preparing all
these while and I am happy that their
effort was not in vain.All what they did
since the beginning of this tournament
till the final is as a result of hard work. I
give kudos to my team for a job well
done. I want the organizers of the
tournament to get a better pitch in
subsequent tournaments in order to get
the best of the players. Also, they
should make a lot of awareness months
before the start of the tournament
because this will give room for organizations in the maritime sector to support and take this
competitiontoagreatlevel.
Zwalvan
First and foremost, I want to
appreciate my teammates for
keeping up the good fight, unity
and winning spirit. We really deserve
the cup because we worked a lot by
practicing everyday and staying true to
the course of winning. I must say we
played with stronger and skilled
opponents. I cant believe it that I was
able to score the goal that led to us
winning the competition. I want to
thank the organizers for their efforts
yearly and for keeping the spirit of
football alive in the maritime
competition. This is worth emulating
and I want to ask other organizations in
theindustrytosupport Ships &Ports insubsequentcompetitions.
Charles Shedrach
PAGE 5
Ocean freight rates, which
have driven the exceptional
results we have delivered in
2022, were again up both
year-on-year and compared
to the second quarter.
However, it is clear that
freight rates have peaked
and started to normalise
during the quarter, driven
by both decreasing demand
and easing of supply chain
congestion."
In the Ocean sector,
revenue increased over the
quarter to US$18 billion
and EBIT rose to US$8.7
billion mainly driven by
significantly higher freight
rates on contract and
shipment on routes from
Asia to Europe and to North
America, partly offset by a
decrease in volumes and by
higher costs related to
bunker, container handling
andnetwork.
"With the war in
Ukraine, an energy crisis in
Europe, high inflation, and
a looming global recession
there are plenty of dark
clouds on the horizon. This
weighs on consumer
purchasing power which in
t u r n i m p a c t s g l o b a l
A. P. M o l l e r -
Maersk's results
in the third quarter of the
year showed higher profits
in all its three main
activities: Ocean, Logistics
& Services and Terminals,
compared to the same
periodlastyear.
The Danish company's
revenues increased by 37%
and both EBITDA and
E B I T i n c r e a s e d b y
a p p r o x i m a t e l y 6 0 %
compared to Q3 2021,
while global container
volumes are estimated to
have declined by 3% in the
sameperiod.
Maersk's revenue
reached US$22.8 billion,
EBITDA increased to
US$10.9 billion and EBIT
climbed to US$9.5 billion.
Additionally, the carrier
achieved a profit of US$8.9
billion for the third quarter
and US$24.2 billion for the
first nine months of the
year.
The CEO of Maersk,
Søren Skou, said, ”Our
third quarter result was
another record and the 16th
quarter in a row with year-
on-year earnings growth.
saw his direct supervisor in
the hallway outside the
locker room, Monegro
began stabbing him with a
knife while they were both
in the hallway in full view of
severalcrewmembers.
The victim grappled
with Monegro and the two
fell to the floor. Monegro
then got on top of the victim
and continued stabbing him.
Monegro then removed a
second knife from the
victim's coveralls and
stabbed him with both
knives.
The other seafarers of
the ship attempted to
intervene to stop Monegro,
including throwing a trash
can at him, but their actions
w e r e u n s u c c e s s f u l ,
according to US attorney's
officestatement.
Monegro stopped
stabbing the victim only
when he became too tired to
continue. In total, Monegro
stabbedthevictim31 times.
The ship's captain,
chief mate and chief
h e B r a z i l i a n
TAssociation of
Port Terminals (ABTP)
has filled a legal request at
t h e A d m i n i s t r a t i v e
E c o n o m i c D e f e n s e
Council (CADE) of Brazil
to investigate the impact of
t h e w o r l d ' s l a r g e s t
container shipping line,
Mediterranean Shipping
Company (MSC) on the
country's economy.
ABTP accused the
shipping giant of abusing
its domination of the
container shipping sector
i n B r a z i l t o g i v e
advantages to its own
terminals, raising costs
and reducing options for
the flow of cargo in the
country.
ABTP noted that
MSC and its 2M Alliance
p a r t n e r M a e r s k a r e
responsible for 79% of
containers (53% directly
and another 26% through
commercial agreements)
transported along the
Braziliancoast.
According to the
MONDAY, NOVEMBER 14, 2022
Filipino seafarer,
Aw h o f a t a l l y
stabbed a fellow crew
member on the 14,000 TEU
c o n t a i n e r s h i p M S C
Ravenna en route from
Shanghai to Los Angeles,
was sentenced to 20 years in
federalprison.
M i c h a e l D e q u i t o
Monegro, 44, a resident of
the Philippines,wassentenced
byUnitedStatesDistrictJudge
Dale S. Fischer, who said in
court at a hearing on 7
November that Monegro's
“conduct was unusually
heinous,cruelandbrutal.”
dressing room on the ship's
upper deck, preparing for
their shift and waiting for
their direct supervisor to
p r o v i d e t h e i r w o r k
assignments for the day,
a c c o r d i n g t o t h e U S
attorney'sofficestatement.
Shortly after Monegro
The murder took place
on 20 September 2020,
when the Liberian-flagged
container vessel was
approximately 80 nautical
miles from Southern
California.
That morning, several
crew members were in a
Filipino seafarer jailed 20 years for brutal murder on MSC Ravenna
engineer all arrived on the
scene during the incident,
and the captain convinced
Monegro to get off the
victim, who died on the ship
frommultiplestabwounds.
M o n e g r o w a s
convinced by the captain to
walk to a conference room.
A f t e r c o n t i n u e d
discussions, Monegro
placed the knives on the
conference room table and
was escortedtohis cabin.
After the incident,
Monegro was confined to a
cabin and crew members
were assigned to guard the
door, so they were unable to
perform their normal duties
ontheship.
Federal agents arrested
Monegro after the ship
docked at the Port of Los
Angeles on 27 September
2020. He has been in federal
custodysincehisarrest.
“The tragic impact of
defendant's conduct cannot
be overstated,” prosecutors
argued in a sentencing
memorandum.
MSC accused of abusing dominant position in Brazil
origin/destination of the
cargo.
Maersk and MSC
launched the 10-year 2M
Alliance vessel-sharing
agreement on the Asia-
Europe, trans-Pacific and
trans-Atlantic trades in
2015, in an effort to better
utilise their combined
capacity in the wake of
their failed bid to launch
the P3 Network. The
arrangement, which
includes a series of slot
e x c h a n g e s a n d s l o t
purchases on East-West
routes, also involves
Maersk and MSC taking
o v e r a n u m b e r o f
charters and operations
of vessels chartered to
H y u n d a i M e r c h a n t
Marine (HMM).
group, the control of the
flow of cargo is done in
such a way that the seven
port terminals owned by
the 2M Alliance members
would be favoured to the
detriment of others, even
in cases in which other
ports are closer to the
Company, and it will have
an inauguration ceremony
and naming it on November
13,” a Qatari official, Omar
AlJaber, said.
T h e M S C Wo r l d
Europa, which boasts
i n n o v a t i v e a n d
environmentally advance
features, can house 6,700
World Cup fans. It is 47
metres wide with 2,626
cabins and 40,000sqm of
publicspace.
With only 10 days
before the kick-off of
football's biggest event, the
MSC World Europa serves
as the first of three floating
hotels to anchor in the
country, with the second
one scheduled to arrive on
Monday, November14.
The first of the three
cruise ships that
will serve as floating hotels
for World Cup fans has
arrivedinQatar.
The 2022 FIFA World
Cup is scheduled to hold
from November 20 to
December 18 in Qatar. It is
the first World Cup to hold
intheMiddleEast.
The 22-deck cruise
ship MSC World Europa
docked at Old Doha Port on
Thursday. It will officially
be inaugurated on Sunday,
November13.
“ T h i s c r u i s e i s
considered its first voyage to
Qatar, where it was built for
the World Cup in particular,
and it is considered the
l a rg e s t s h i p i n M S C
Qatar charters cruise ships
to lodge World Cup fans
Maersk books $22.8bn revenue, $9bn pro it in Q3
as well as the completion
of the divestment of the
Terminal's share in Global
Ports Investments in
Russia.
As a result of slowing
economic activity, Maersk
expects global container
d e m a n d t o c o n t r a c t
between –2 and –4% in
2022.
Moreover, Maersk
announced full-year
guidance for underlying
EBITDAof around US$37
billion, an underlying
EBIT of around US$31
billion and a free cash flow
aboveUS$24 billion.
Given the unfolding
economic slowdown,
which is also expected to
continue into the coming
year, APMM has lowered
its outlook for the growth
of 2022 global container
demand to between –2/-
4 % d e c l i n e f r o m
previously the lower end
ofthe+1-/1%range.
Capex guidance for
2 0 2 2 - 2 0 2 3 r e m a i n s
unchanged at US$9-10
billion, according to the
latestMaersk's report.
"As anticipated all
year, earnings in Ocean
will come down in the
coming periods. Our
overall transformation
momentum remained very
strong as we continue to
g r o w o u r L o g i s t i c s
business rapidly. For the
first time, revenue in
Logistics exceeded US$4
billion in one quarter, and
we expect to continue to
outgrow the market in
Logistics based on new
customerwins,”Skousaid.
t r a n s p o r t a t i o n a n d
logistics demand," Skou
said.
"While we expect a
slow-down of the global
economy to lead to a softer
market in Ocean, we will
continue to pursue the
growth opportunities
within our Logistics
business. As a trusted
partner, we are ready to
support our customers in
rethinking their supply
chain needs through what
is likely to be a period of a
more volatile business
environment,”headded.
In the Logistics &
Services sector, Maersk
continued to invest in its
portfolio and capabilities.
The acquisition of LF
Logistics was completed,
the intended acquisition of
Martin Bencher Group
was announced, and the
warehouse, distribution
center and cold storage
f o o t p r i n t w e r e
significantly expanded
with 21 incremental
facilities across key
m a r k e t s l i k e L a t i n
America, Europe and
India.
Revenue in this sector
grew 60% to US$4.2
billion and EBIT increased
to US$258 million mainly
due to added revenue from
acquisitions and higher
volumes, in particular
among Maersk's existing
top200customers.
Furthermore, in the
Terminals sector, revenue
grew to US$1.1 billion and
EBIT increased to US$357
million, mainly driven by
higher volumes and prices
Skou
PAGE 6
MONDAY, NOVEMBER 14, 2022
he US Navy is
Tfacing recruiting
challenges in a tight labour
market, and has raised its
maximum enlistment age
to 41 in order to attract
more sailors to the fleet.
TheNavy is also lookingto
increase its use of bonuses
a n d o t h e r fi n a n c i a l
incentives to attract
recruits.
T h e m i d d l e a g e
recruits will be eligible to
s e r v e i n c o m b a t
assignments in some of the
m o s t p h y s i c a l l y
d e m a n d i n g N a v y
communities, including
theNAVYSEALs.
“As we continue to
navigate a challenging
recruiting environment,
raising the enlistment age
allows us to widen the pool
of potential recruits,
creating opportunities for
personnel who wish to
s e r v e , ” U S N a v y
Commander Dave Benham
under, but some officer
programs welcome older
recruits, and the age limit
fornewreservistsis 40.
US citizens above the
age of 41 have another
option for serving their
country at sea. Older
individuals can obtain
M e r c h a n t M a r i n e r
Credentials from the
USCG and apply to sail
aboard US Navy ships as
civil service sailors with
the Military Sealift
C o m m a n d . R e c r u i t s
deciding on this option,
however, must be able to
obtain a security clearance
and be capable of passing
pre-employment physical
examination.
toldtheNavyTimes.
The US Coast Guard
i s a l s o l o o k i n g f o r
dedicated individuals to
join its ranks, and the age
limits are slightly more
flexible. Active duty
recruits must be aged 35 or
China cancels 1,700 lights
as COVID-19 surges
Cruise demand returns
to pre-pandemic levels
e s t i m a t e s o f 9 2 % .
Adjusted profit came to 26
cents a share, above the 14-
cent average of estimates
compiled by analysts.
Revenue rose to $2.99
billion, compared with
analysts' projections of
$2.97 billion.
Despite inflationary
headwinds on fuel and
food, Royal Caribbean
said demand is strong. Its
passengers tend to be high
earners, with median
household incomes greater
than $100,000, and are less
a ff e c t e d b y c u r r e n t
c o n s u m e r s p e n d i n g
challenges.
Royal Caribbean
expects record yield in
2023, with customers
s p e n d i n g m o r e o n
bookings and on cruises
thantheydidin2019.
Royal Caribbean
C r u i s e s s a i d
occupancy has rebounded
to pre-pandemic levels,
with bookings running
higher than the third
quarterof2019.
The second-largest
cruise operator reported
third-quarter results
Thursday that surpassed
investors' estimates and
said customer demand met
2019 levels for the first
time since the COCID-19
pandemic shut down
cruises.
“Our business is back,”
Chief Executive Officer
Jason Liberty said in an
interview. “Our load factors
are in the mid-90s. We're
inchingourwayback.”
Occupancy for the
third quarter was 96%
overall,beatingWallStreet
Thailand. Thirty-three
aircraft flew overhead,
including submarine-
hunting patrol planes and
helicopters.
“We must be ready for
those who violate rules and
who would use force to
trample on the peace and
security of other nations,”
Prime Minister Fumio
Kishida said in a speech on
the Japanese helicopter
carrier Izumo. “We will
formulate a new national
security strategy by year end
and drastically strengthen
Japan hosted its first
international fleet
review for seven years on
Sunday with ships from 12
other nations in a show of
unity as North Korea fires
record numbers of missiles
and China increases its
pressure onTaiwan.
The naval parade in
Sagami Bay near Tokyo
involved 38 vessels, 18 from
friendly countries such as the
United States, South Korea,
B r i t a i n , A u s t r a l i a ,
S i n g a p o r e , I n d i a a n d
Japan hosts 12-nation multilateral naval display
which had threatened to
derail closer cooperation
betweenthetwo U.S. allies.
Japan refused to join
South Korea's fleet review
in 2018 after Seoul asked it
not to fly its rising sun
ensign, which South Korea
views as a symbol of
J a p a n e s e w a r t i m e
aggression. Tokyo declined
to invite South Korea to a
planned2019 review.
Both countries have,
however, drawn closer as
North Korea ratchets up its
missile launches, including
a suspected long-range
missile on Thursday that
triggered an alert in central
and northern Japan for
residentstoseekshelter.
China, which has
criticised Japan's defence
s p e n d i n g p l a n s a n d
declined an invitation to
join the review. Russia
was not invited because
o f i t s i n v a s i o n o f
Ukraine.
our defencecapabilities.”
K i s h i d a h o s t e d
dignitaries on the Izumo
before flying to the U.S.
Navy aircraft carrier USS
Ronald Reagan to meet
A m b a s s a d o r R a h m
Emanuel and senior navy
commanders.
“What upsets China
most is we have allies, they
a r e e x p a n s i v e a n d
extensive,” Emanuel said
after accompanying Kishida
on a tour of the Ronald
Reagan.
Kishida's Liberal
Democratic Party has
pledged to double Japan's
defence budget to around
2% of gross domestic
productwithinfive years.
South Korea's decision
to join Japan's event came as
ties between the neighbours
improved after a spat over
compensation for wartime
labourers and Korean
women forced to work in
Japanese military brothels,
permanent resident lived
withhis wifeandchildren.
Yoo is a son of Yoo
Byung-un, a businessman
who founded the Evangelical
Baptist Church in South
Korea and whose family
controlled I-One-I, an
investment vehicle owned by
his two sons that ran the
s h i p p i n g c o m p a n y ,
ChonghaejinMarine.
Chonghaejin owned the
Sewol ferry that capsized off
the country's southwest coast
in April 2014. Investigators
s a i d t h e f e r r y w a s
overloaded, structurally
unsound and traveling too
quickly.
.S. Supreme Court
UJ u s t i c e S o n i a
Sotomayor on Thursday
r e j e c t e d a b i d b y a
businessman to block his
extradition to South Korea to
face embezzlement charges
that stemmed from a 2014
ferry sinking that killed 304
people.
Sotomayor rejected Yoo
Hyuk-Kee's request to
prevent his extradition from
going forward while he
appeals lower-court rulings
rejecting his effort to avoid
being sent to South Korea to
face trial on the seven
embezzlement charges
againsthim.
Sotomayor is the justice
a s s i g n e d t o r e v i e w
emergency appeals from a
group of states that include
New York, where Yoo's
extradition case had been
pending.
Yoo, who is also known
as Keith Yoo, had been a
fugitive for six years before
his July 2020 arrest at his
home in Pound Ridge, New
York, a New York City
suburb, where the U.S.
Sewol Ferry: U.S. Supreme Court rejects bid to stop Yoo's extradition
the family's diversion of
money contributed to
Cheonghaejin Marine's
financial deterioration,
which led to the neglect of
ship management and staff
safetytraining.
Yoo's lawyers had
argued that the U.S. State
Department – not judges –
should decide whether
South Korea waited too
l o n g t o s e e k Yo o ' s
extradition under its 1998
treaty with the United
States.The NewYork-based
2nd U.S. Circuit Court of
Appeals in August rejected
thatreadingof thetreaty.
After the 2nd Circuit
last month declined to
reconsider, Yoo's lawyers
asked the Supreme Court
to block his extradition
from taking place while
he mounted a further
appeal.
“This harm would be
i r r e v e r s i b l e a n d
catastrophic; i.e., any relief
granted to Mr. Yoo by the
Supreme Court would be
moot,” they wrote in a filing
onWednesday.
The father,Yoo Byung-
un was found dead of
unknown causes in an
o r c h a r d t w o m o n t h s
following the accident after
eluding authorities who
weresearchingfor him.
S o u t h K o r e a n
prosecutors have alleged
that Yoo Hyuk-Kee had
f r o m 2 0 0 8 t o 2 0 1 4
leveraged his family's
power as business and
religious leaders to defraud
v a r i o u s c o m p a n i e s
controlled by I-One-I out of
29 billion Korean won, or
$23 million at the time of his
arrest.
The prosecutors said
Many airports
across China
have cancelled majority of
their flights due to a surge in
COVID-19 cases in the
country, China's state
newspaper, Global Times
reportedonThursday.
The southern Chinese
metropolis of Guangzhou,
which had a particularly bad
outbreak of cases, cancelled
over1,000 flights.
More than 700 flights
were cancelled at two major
airports in the capital
Beijing.
The government is
i m p l e m e n t i n g s t r i c t
measures to contain the
spread of the virus, such as
fl i g h t c a n c e l l a t i o n s ,
MONDAY, NOVEMBER 14, 2022
US Navy raises sailors recruitment age to 41
l o c k d o w n s , f o r c e d
quarantines and mass
testing.
Despite the country's
zero-COVID-19 policy,
which has severely strained
its economy, the number of
infections across China has
beenrisingagainfor weeks.
After reporting 8,176
coronavirus cases the day
before, authorities reported
a r o u n d 8 , 8 0 0 m o r e
infections nationwide on
Thursday.
T h e n u m b e r o f
infections in major cities
other than Guangzhou,
such as Beijing, Shanghai
and Chongqing, has also
b e e n r i s i n g a g a i n
recently.
PAGE 7
Ships & Ports Newspaper

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Understanding the Pakistan Budgeting Process: Basics and Key Insights
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Ships & Ports Newspaper

  • 1. Vol. 16 No. 1655 MONDAY, NOVEMBER 14, 2022 SHIPS PORTS D A I L Y ...the voice of the maritime industry NPA, NIMASA NPA, NIMASA heads earning heads earning more than more than President President Buhari Buhari — RMAFC — RMAFC NPA, NIMASA heads earning more than President Buhari — RMAFC MT Heroic Idun crew members seek to block extradition to Nigeria Qatar charters Qatar charters cruise ships to cruise ships to lodge World lodge World Cup fans Cup fans Qatar charters cruise ships to lodge World Cup fans STOAN Chairman Princess Haastrup mourns late Otunba Kunle Folarin Forex crisis: Nigeria's used car import drops by 51% released by the National BureauofStatistics(NBS). The 2022 first half figure also represents a decline of 37.7% when compared to the N271.2bn spent in importing second-hand cars into the the N177.6bn spent for the same reason in the second halfof2021. M a n y i m p o r t e r s attributed the drop in vehicular and motorcycle imports to the rapidly country in the second half of 2021. A l s o , N i g e r i a n s imported motorcycles valued at N122.39bn between January and June 2022, which is 31.1% lower than he value of used Tcars imported by Nigerians dropped by 51.2% from N346.29bn in the first half of 2021 to N169.1bn in the first half of 2022, according to recent data levels since the first half of 2018 when Nigerians spent N59.1 billiononused cars. Due to the surging cost of importing foreign used declining value of the naira against major international currencies especially the US dollars. The latest NBS figures show that Nigeria's car imports fell to the lowest WINNER BEST MARITIME MEDIA AWARD INSIDE CONTINUES OF PAGE 3 Managing Director of Nigerian PortsAuthority (NPA), Mohammed Bello-Koko (left) receives the Ships & Ports Maritime Cup recently won by the NPAKoko Marines from theGeneral Manager Human Resources,Ahmad Umar. The victorious Koko Marines in a group photograph with the management staff of NPA. President of theWorld Maritime University, Dr. Cleopatra Doumbia-Henry, with the Managing Director of Nigerian PortsAuthority, Mohammed Bello-Koko (left) and with the DirectorGeneral, Nigerian MaritimeAdministrationand SafetyAgency(NIMASA), Dr.Bashir Jamoh (right) when she visitedboth agenciesin Lagos lastweek.
  • 2. MONDAY, NOVEMBER 14, 2022 What is your take on CBN’s plan to redesign major naira notes? he decision by the Central Bank of Nigeria T(CBN)toredesignsomenewnairanotesisnotan economic priority and will not solve the nation’s monetary policy challenges. There are so many things to focus on at the moment and not redesigning of naira notes. This will affecttheeconomyandcauseinflationinthenation. Lanre Lagos disagree with the CBN governor on the two main Ifactors raised by him on why the naira notes are to be redesigned. Nigeria’s inflation is beyond monetary policy and it is structural in nature. Money supply is a simple economic term. If there is too much money chasing a few goods, there will be inflation. But the problem of Nigeria’s inflation is not a monetary problem, it is structural. Changing the money or reducing the money supply will not change anything because we have a large population and a very weak production capacity. Industries have been closing down and no electricity. The price of diesel that you use as an alternative for your industry has skyrocketed to almost N1000 per litre. How can you produce? The argument that the policy will disrupt the hoarding of naira by criminals such as bandits, kidnappers, and terrorists; who told you the criminals are keeping their money in naira? This criminality you see — this banditry, armed robbery, kidnapping, Boko Haram is an organised international crime. Do you think ordinary Fulani illiterates can kidnap, organise ransom and get away with it? There is a better brain behind them. That is why the value of the naira continues to fall. People buy dollars not necessarily to import but as a store of value and as a means to keep the proceeds of criminality.Who is keepingnaira?Governmentis beatingadeadhorse. Adeolu Lagos ntroducing this new policy, there will be control of Isupply of money. This means that consumption will reduce. If consumption declines, production will reduce and employment will reduce as a result of laying off. This means you are mortgaging effective demand for autonomous consumption. That is a catastrophe and will lead to criminality. Those who advised the president and the CBN governor to take such action were being mischievous considering that the nation is at a transition point. In the short run, the policy will have a negative impact on rural entrepreneurs and business people who have been involved in a cash-based economy. It will also affect politicians, who may be stockpiling cash to distributetosupporters. Dare Abuja This is a welcome development. It will help the economy. The people that will be affected are all those crooks, corrupt and dubious politicians and other elites stocking monies in their house stores, empty water tanks and soakaways, will have no choice but to go and deposit those cash in the banks or else they will lose it all when the deadlinefor theoldnairadepositpasses. Miriam Ilorin he decision by the Central Bank to redesign Tcertain currency, particularly the higher denominations susceptible to hoarding by dubious and thieving politicians to use for vote buying in the forthcoming elections should be welcomed news to all well-meaning Nigerians. Often Nigerians complain that institutions fail to do their jobs to foster credibility in the government and yet when the CBN did just that but there doesn’t seem to be a lot of enthusiasm among the people. That’s strange. Any Nigerian who has nothing to hide should welcome this policy. And I must add that the Finance Minister’s claim of ignorance about the policy is simply ridiculous.There’s a difference between not being informed about the policy and not agreeing to it, and it appears what we have here is the latter. The question thereforeis why didn’tshe approveof thepolicy? Bosah Lagos t’s a welcome development and a big leap to the Ifight against politicians expensive spending during and outside election periods. It will also work against many criminals and politicians who degrade our currency by hoarding them. Another issue is the timeliness. Naira is poised to suffer more in the coming weeks if they don’t get their acts together. The result is ordinaryNigerianbearsmorepain. Elijah Ibadan he non-harmonious working of this Tgovernment shows ineptitude at the highest level. I do not agree that it is right to just wake up one day and decide to change the naira notes. I believe anything that has to do with the national economy ought to be debated exhaustively before doing it. It is also coming at a wrong time when there is no money in the government coffers. It cost a lot of money to print naira notes. Who funds it? If it has not been printed I think it should be on holdfor now. Elizabeth Lagos his is a welcome development and such Tmeasures should be taken more frequently. When central banks do this, they try to pull in monies people are hiding; illegal money, corruption money, kidnapping money. Nigeria has managed to become a hub for these kinds of illegalities. There are many people sitting on billions in naira, and even in dollars. The CBN should alsoseehow itcanpullinthedollars. Mayowa Lagos his is a good move by CBN governor. Naira Tredesign will not undermine our economy; it will only help in strengthening the naira both at the official and parallel markets. I know it will bring doom and gloom to illegal hoarders of naira currency. There is never a good time for policies of this type because the country needs to get it done and move ahead for our economy be get better. I must say that the disagreement between the Minister of Finance and CBN governor over the matter is not surprising and also occurs in developed countries. It is just that the way it has played out in public is rather unfortunate. The basic functions of the CBN cannot be carried out without the Ministry of Finance, which is in charge of the national budget and if for any reason the CBN works without the required alignment with the fiscal authority and other Ministries, Departments and Agencies, it would only amount to winning economic battle while losing economic warfare. Thus, the CBN is not expected to make policy decisions that affect the economy without input from the Ministry ofFinance. Patrick Lagos think the decision to replace some naira Idenominations with new ones will be positive for the economy in the medium to long term. First, although the measure does not amount to demonetisation of big currency notes often carried out by central banks to curb black money and corruption, it will go a long way in ensuring that a lot of naira notes circulating outside the banks are crowded in. If it leads to large deposits in banks, it means the banks will have more money to lend, which may reduce interest rates. I also think it may have the effect of reducing speculative attacks on the naira in the parallel market. I expect that the Financial Intelligence Unit will be on the watch out for huge deposits as a way of monitoring illegitimate transactions. Despite the huge cost involved in changing currency notes, I think it’s time to sanitise the system, especially now that electioneering activities have kicked off. However, I think the deadline of January 31, 2023 is short in view of the number of naira denominations involved from N200 to N1,000. The CBN mayconsiderextendingitwithtime. Alex Abeokuta think it is just a legacy for the central bank Igovernor. Countries change or update their currencies all the time and it is just refreshing mainly to fight counterfeiting and to incorporate new tech or security features in notes. Minus the administrative hiccupsandstress, itis justanotherexercise. Deji Ilorin The decision will be positive for the economy in the medium to long term. The measure would go a long way to ensure that the naira in circulation outside the banking system are brought into the banking system. The measure would also provide enough liquidity for banks, and more money for the banks to lend. It does not amount to demonetisation of big currency notes often carried out by central banks to curb black money and corruption. Perhaps more importantly, with increased currency in circulation now in the vault of banks, I expect to see improvementinmonetarypolicytransmission. Austin Abuja edesigning the naira is not the most important Rproblem facing the economy in a time like this where there is double-digit inflation, insecurity, dwindling reserves and pains on Nigeria. The only thing the government is thinking is how to redesign the currency and giving a deadline of December. Why the urgency if not to loot money for election? Who else spends naira aside Nigerians? And what value is redesigning of naira bringing at this point, and we may even go to borrow dollars to print the naira. Is the cost budgetedforin2022 budget?Thisis sheerwickedness. Abel Lagos PAGE 2
  • 3. Terminal in Nigeria early that he would be in the country's high-risk piracy zone, thus, he obtained permission to stay around 200 miles offshore waiting final confirmation of the load port laycan and that these instructions were confirmedonAugust 4. The applicants averred that on August 8, following arrival, the Vessel was ordered by the Terminal to move outside of the 10nm Maritime Identification Zone of the Terminal because cargo n o m i n a t i o n s o r n a v a l clearances for the Vessel had yettobeprovided. They averred that about 9p.m., the Vessel was contacted by the Terminal security and was informed that there may be a Nigerian naval vessel approaching them. They averred that when the Nigerian Navy told them to follow it to the Bonny f a i r w a y b u o y f o r investigation, MT Heroic Idun declined because its Master feared that moving close to the Nigerian shore at night was too risky because of piracyconcerns. They averred that there was also confusion over the name of the Nigerian vessel which at that time was misspelt as “Agola” and could not be found on Google as a registered naval vessel and the agents were also contacted, and they too advised not to follow the orders ofthevessel. They added that the Navy vessel was requested to turn itsAIS on but did not, this caused further concerns on board MT Heroic Idun and ashore and the master decided to move out of the area at full speed whilst the situation continuedtobeassessed. The applicants noted that the Nigerian Navy subsequently issued a press release confirming that no oil was loaded and that theVessel hasbeenheldeversince. The claimants averred further that the interdiction by EG was unlawful and breached UNCLOS Articles 58, 87, 97 and 100 relating to innocent passage and the right to be on the high seas withoutinterference. “Further, it was carried out without any request being made to Flag which is a pre- r e q u i s i t e p r i o r t o a n interdiction and boarding at sea although in this case, the navy was not able to get on boardbecauseof theweather. “The Marshall Islands has instigated Arbitration proceedings under the judicial procedure set out in UNCLOS for damages and to ask for Provisional Measures namely the immediate release of theVessel and crew.ANote Verbale is being served on the EG Embassy in Washington. This is an action by the Flag state and could lead to a judgment against EG for damages.” The Nigerian Navy on August 19, 2022 debunked allegations that MT HEROIC IDUN was loaded with three million barrels of stolen crude. The Navy alleged that the vessel invaded the Akpo Oil Field without any form of authorisation or clearance, but fled without lifting any crude when it sensed the presence of a navy vessel before it was apprehended at Bioko Island in Equatorial Guinea. “The brazen act of defiance to constituted authority by the captain of the vessel necessitated the Nigerian Navy to invoke the c o l l a b o r a t i o n o f neighbouring Equatorial Guinea through the Yaoundé Architecture to arrest the vessel as we noticed that it stopped making way in the Equatoria Guinea waters,” Chief of Policy and Plans, N i g e r i a n N a v y, R e a r Admiral Saidu Garba, had said. MONDAY, NOVEMBER 14, 2022 MT Heroic Idun crew members seek to block extradition to Nigeria from the owners for loading at Akpo Terminal in Nigeria (Terminal) with laycan (dates for loading) ofAugust 17 and 18. And On August 4, 2022, t h e C h a r t e r e r s / S u b - Charterers instructed the vessel to proceed to the Terminal and following that to Ceiba Marine Terminal to load a cargo of crude oil and then to Rotterdam in Holland to discharge the cargo, following which laycan was fixed or narrowed to August 8,2022. They averred that the sub-charterers BP likely failed to inform the Terminal of this change and/or to ensure that the correct paperworkwas inplace. They stated that the vessel Master was concerned that if he arrived at the Akpo the vessel and crew were unlawfully arrested by the Equatorial Guinea Navy under pressure from the NigerianNavy. MT Heroic Idun, with 26 persons onboard comprising 16 Indians, eight Sri Lankans, one Pole and one Filipino was arrested on August 22, 2022, by the Equatorial Guinea Navy shortly after the vessel leftNigerianwaters. Fearing their unlawful removal from Equatorial Guinea to Nigeria on the Nigerian Navy's request, the 26 applicants and the vessel filed a fundamental rights enforcement suit at the court i n s u i t FHC/ABJ/C8/2058/2022 t h r o u g h t h e i r c o u n s e l Babajide Koku SAN, praying thecourttointervene. The applicants averred in an affidavit in support of the originating application, that on July 18, 2022, the Charterers of the vessel requested a Letter of Comfort he crew members Tof crude oil carrier MT Heroic Idun have asked a Federal High Court sitting in Abuja to stop the Nigerian government from executing its extraordinary rendition of the vessel from Equatorial GuineatoNigeria. The crew claimed that there is no extradition treaty between Equatorial Guinea and Nigeria, hence any alleged attempt to pressure the CentralAfrican country to remove them to Nigeria would be illegal and an infringement on their rights u n d e r N i g e r i a n a n d internationallaws. It described as false, the Nigerian Navy's claim that MT Heroic Idun attempted to illegally load crude oil from Akpo Terminal in Nigeria, noting in particular, that the Navy admitted in a statement on August 19, 2022, that it found no crude oil on MT HeroicIdun. They alleged further that NPA,NIMASAheadsearningmorethanPresidentBuhari—RMAFC h e M a n a g i n g TD i r e c t o r o f Nigerian Ports Authority (NPA), Director-General, N i g e r i a n M a r i t i m e Administration and Safety Agency (NIMASA) and Governor, Central Bank of Nigeria (CBN) earn more than the President of Nigeria, according to the Revenue Mobilisation Allocation and Fiscal Commission(RMAFC). The commission also listed the Nigerian National P e t r o l e u m C o m p a n y Limited (NNPC), the Federal Inland Revenue Service (FIRS) and the Nigerian Communications Commission (NCC) as g o v e r n m e n t - o w n e d enterprises with salary structures outside of the mainstream public service salarystructure. RMAFC Chairman, Mohammed Shehu, said at the weekend that the c o m m i s s i o n w o u l d therefore embark on the review of public officials' package for the president, governors and legislators. And contrary to what a lot of p e o p l e b e l i e v e t h a t legislators and senators have jumbo salaries, there is no legislator, no senator, no minister that earns over N1 million a month in Nigeria,” hesaid. He said the salary r e v i e w e x e r c i s e h a s r e c e i v e d P r e s i d e n t Muhammadu Buhari's nod. “This is not good for Nigeria. The President is the President and there has to be a way these things a r e a d e q u a t e l y harmonised in a manner t h a t s o m e c h i e f executives will not get a salary higher than that of the president or governors. “I don't believe that any public officers whether CBN or any other agency should have a package higher than that of the President of the Federal Republic of Nigeria. I think this is not good for the system,” he stated. salary higher than that of the President of the Federal Republic of Nigeria? But this is what it is. You have the NCC, NPAand the CBN Governor. Do you know that the severance package of a CBN governor is higher than that of a sitting President?” he queried, noting that the situation was abnormal. “There are lots of lapses there, so this is what has informed us to do this exercise now. It is not true that we are just trying to release a bonus or a jumbo p a y i s b e c a u s e i t i s unacceptable for any public official to earn more than the President of the country. S p e a k i n g o n a television programme monitored by SHIPS & PORTS, Shehu stated that the multiplicity of salary structures in the public service in the country was being reviewed by his commission. “A lot of Nigerians are not aware that there is disparity. Why should any chief executive of a public office earn a Buhari FishingtrawlersinksaftercollidingwithMSCcontainershipinLagos The Commander of N N S B E E C R O F T , C o m m o d o r e M a l a m i Haruna, urged seafarers “to navigate with caution and due consideration to t h e i n t e r n a t i o n a l regulation for prevention of collision when transiting w i t h i n t h e n a t i o n ' s maritime domain”. H e r e s t a t e d t h e commitment of the Chief of the Naval Staff, Vice Admiral Awwal Gambo towards ensuring the security of all seafarers within Nigeria's maritime space. sister trawler OLOKUN IV in the Lagos channel when it ran into the 5,550 TEU M a l t a - fl a g g e d containership. The Nigerian Navy Ship BEECROFT, which was on a routine patrol around the area of the accident, rescued 10 crew members of the fishing trawler. The rescued crew members were thereafter handed over to the officials o f B a r n a l y F i s h i n g Company Limited, which owned and operated the ill- fated trawler. c o n t a i n e r s h i p , M S C CORUNA, in the Lagos channel. The fishing trawler was being towed by its PAGE 3 CONTINUED FROM FRONT PAGE vehicles, dealers have reduced their orders even as the unit costs of the vehicles have increased by almost 50%inthepastoneyear. Many importers said they source forex from the black market due to the inability of the Central Bank of Nigeria (CBN) to meet theirforexdemands. The naira recently crashed to N870 to the dollar at the black market while the official exchange rate was N440.53 tothegreenback. Forex crisis: Nigeria's... ANigerian fishing trawler named OLOKUN XII capsized on Monday morning after c o l l i d i n g w i t h a
  • 4. The Minister of Aviation, Hadi S i r i k a s a i d P r e s i d e n t Muhammadu Buhari would i n n o d i s t a n c e t i m e commission the completed cargo terminal project at the N n a m d i A z i k i w e InternationalAirport,Abuja. Sirika, who made the disclosure while responding to questions raised by the H o u s e C o m m i t t e e o n Aviation when he appeared before it for the defence of the ministry's 2023 budget proposal, also disclosed that the Economic and Financial Crimes Commission (EFCC) had concluded investigation into the second Abuja airport cargo terminal project abandoned by contractors after receiving 75 per cent advancepayment. He stated that the Nigerian national air carrier would take off before the end of the year with boing 737 for domestic operations while international operations would beintroducedlater. “There are two cargo projects in Abuja. One has been completely finished and will be commissioned by His Excellency Mr. President soon. The second one, the contract was given in 2012, t h e c o n t r a c t o r s w e r e advanced money up to about 75 per cent. These contracts were abandoned by the contractors. Mr. President d i r e c t e d t h a t t h e y b e investigated, prosecuted and the monies recovered but because we don't have prosecuting powers, we reported to EFCC. Now in the last three and half years, they confirmed to me that they h a v e fi n i s h e d t h e i n v e s t i g a t i o n . T h i s i s worrisome. We will inform the House when we see EFCC and they brief us formally,”hesaid. Sirika said the Aviation M i n i s t r y r e c o r d e d “significant achievements in virtually all areas of the sector” within the life of the presentadministration. “We have provided the safety and security needed in the aviation sector, which has led to the certification for the first time ever in the history of the country of Muritala Mohamed Airport, Nnamdi Azikiwe International airport. It is a milestone being the first ever airports to be certified, government in, government out. This testimony as to our concern to our focus on safety. We have recorded the highest level of safety and unprecedented growth, making aviation the fastest growing sector of the Nigerianeconomy. “Today Nigeria is the seventh highest country in recovery from COVID. Some airlines also received interventions to be saved from total collapse. We also c r e a t e d a n e n a b l i n g environment, which provided airlines in the country to attain certification and international air transport association operational safety audit. Our airports are wearing new and befitting looks,”hefurtherstated. However, the Chairman of the Committee, Nnolim Nnaji, expressed concern over the omission of one of the critical security and safety agency of the Ministry, the N i g e r i a n A i r s p a c e M a n a g e m e n t A g e n c y (NAMA) from the 2023 from thefederalbudget. MONDAY, NOVEMBER 14, 2022 STOAN Chairman Princess Haastrup mourns late Otunba Kunle Folarin The STOAN Chairman urged the family to take solace in the understanding thattheirlatepatriarchliveda fulfilled life and contributed e n o r m o u s l y t o t h e development of the maritime industryandthecountry. “Otunba Folarin was steadfast in his service to the maritime industry having served in one of the most s e n i o r m a n a g e m e n t p o s i t i o n s i n A l r a i n e Shipping. He later devoted his life to the wellbeing of seafarers through his selfless and unparalleled service as Chairman of the National Seafarers Welfare Board (NSWB) and also as Chairman of t h e N i g e r i a n P o r t s Consultative Council (NPCC). The role he played in the maritime industry will remain i n d e l i b l e f o r m a n y generations to come,” she said, even as she prayed that God Almighty grants his soul eternal rest. of late Otunba Kunle Folarin who died in Lagos onTuesdayattheageof 82. Until his death, Otunba Folarin was the Chairman of t h e N i g e r i a n P o r t s Consultative Council (NPCC) and Chairman of the National Seafarers WelfareBoard(NSWB). In a statement released by the association on Thursday, the STOAN Chairman described the late O t u n b a F o l a r i n a s a “maritime colossus” who made “significant impact” across various sections of themaritimeindustry. “I am truly saddened by the death of this great m a n . O t u n b a K u n l e Folarin's exit at this time will create a great vacuum inthemaritimecommunity. “ H e w a s a n accomplished maritime expertandadministrator,and a repository of maritime knowledge. His death will be felt far beyond the maritime industry,”Haastrupsaid. Nigeria (STOAN), Princess V i c k y H a a s t r u p h a s commiserated with the family Th e C h a i r m a n , Seaport Terminal Operators Association of BuharitocommissionAbuja airportcargoterminalsoon, saysMinister between Bright Waters Energy Limited (plaintiff) and the HonourableAttorney- General and Commissioner for Justice, River State, the Hon. Commissioner of Environment, Rivers State and Petroleum Financial C o r p o r a t e ( P F C ) a s (defendants),” the statement read. There has been a running battle for control of the waterways between some states and the Federal Government. A case between the Lagos State Government and the Federal Government on the control of waterways in the state is awaiting the ruling oftheSupremeCourt. WorldMaritimeUniversityPresidentvisitsNPA,NIMASA resident of the PWorld Maritime University (WMU), Dr. Cleopatra Doumbia-Henry, has visited the Nigerian Ports A u t h o r i t y ( N PA ) a n d N i g e r i a n M a r i t i m e Administration and Safety Agency(NIMASA). WMU is a Sweden- based postgraduate university founded by the International Maritime Organisation (IMO). Nigeria has the highest number of government- sponsored students at the WMU. The Managing Director of NPA, Mohammed Bello- K o k o , w h o r e c e i v e d Doumbia-Henry and her team at the NPA headquarters in L a g o s , r e i t e r a t e d t h e Authority's resolve to leverage its relationship with the global institute to develop talents. “We have been tapping the agency especially under his leadership. We have observed that in the number of female officers of the agency that are sent to the WMU for maritime studies,” shesaid. R e s p o n d i n g , t h e D i r e c t o r G e n e r a l o f NIMASA, Dr. Bashir Jamoh, s a i d , “ O u r c o n t i n u e d relationship with the World Maritime University is informed by the agency's c o m m i t m e n t t o professionalism, research and development as well as striving to attain global best practices in carrying out our responsibilities. This informs our choice of WMU when sending some of our staff to the institution for further training. We have a deliberate policy in line with the International Maritime Organisation to encourage more female participation in maritime.” achieving results evidenced b y g r o w t h i n c a r g o throughput at Onne port and vessel calls in Calabar port have benefitted from the insights of the WeCAPS team, and our doors remain open to more ideas and partnership that will enable us optimise those strategic nationalassets,”hesaid. At NIMASA, the WMU President commended the agency for its policy on inclusiveness and gender equality. “We here at the World Maritime University have had a long, mutually, beneficial relationship with Nigeria and NIMASA in particular. Our visit is to further strengthen the ties between ourselves while exploring areas of future collaboration. "I also wish to especially congratulate Dr. Jamoh for the gender inclusive nature of the knowledge of our employees who are alumni of t h e Wo r l d M a r i t i m e U n i v e r s i t y i n t h e implementation of our ongoing efforts at deepening efficiency in our operations by getting them to cascade skills and competencies gained to organisational advantage. For instance, t h e B a l l a s t W a t e r Management desk we established is headed by an alumnus of the WMU,” Bello-Kokosaid. The NPA Managing Director commended the WMU for supporting the Authority under the Western and Central Africa Port Security (WeCAPs) project, which is a crucial part of the University President's itinerary whilst in the country. "Our relentless efforts at improving channel security in the eastern ports which are KatsinaCustomsCommandgeneratesN500minsevenmonths He said the command made 21 seizures worth N77.8 million during the period. billion worth of exported items all passed through the Jibia border so far,” Chedi said. worth of exported items were also transported through the border corridor within the period. T h e F e d e r a l Government reopened the Nigeria/Niger Republic border at Jibia, Jibia Local Government Area of Katsina StateinApril. “Customs in Katsina has recorded over N500 million from the day the Jibia border was reopened and over N5 he Katsina Area TCommand of the Nigeria Customs Service (NCS) has generated N500 million as revenue seven months after the reopening of the Nigeria/Niger Republic b o r d e r a t J i b i a L o c a l GovernmentAreaof thestate. T h e c o m m a n d ' s controller, Dalha Wada Chedi, who disclosed this on Monday while briefing journalists in Katsina, said over N5 billion Courtbarsstatesfromcontrolofinlandwaterways Wa t e r w a y s A u t h o r i t y (NIWA) by virtue of the constitution and the Act establishing NIWA by the NationalAssembly. “The judge gave the order in the Suit No: F H C / P H / C S / 1 4 2 / 2 0 2 2 no authority/power to legislate on (and enforce compliance of its legislation t h a t a f f e c t ) t h e u s e , management and control of Inland waterways in Nigeria as it is exclusively within the control of National Inland Federal High AC o u r t i n P o r t Harcourt, Rivers State, has r e p o r t e d l y r u l e d t h a t management and control of Inland waterways in Nigeria remains exclusively within the control of the National Inland Waterways Authority (NIWA). N I WA s p o k e s m a n , Jubril Darda'u, disclosed this inapress statement. “The Federal High Court of Nigeria in the Port Harcourt Judicial Division holding at Port Harcourt before his Lordship Hon. Justice I.S Mark in his judgment recently orders that a state government has PAGE 4 Folarin Sirika
  • 5. MONDAY, NOVEMBER 14, 2022 How does it feel winning in the 2022 Maritime Cup Competition? Every winner is happy, excited and in a light mood. I am happy for my team and organization because this victory is image boosting. Nigerian Ports Authority is a pioneer football and sports encouraging organization from inception, the NPA sports club happened to be the first secretariat in 1946 for the Nigerian coaches association. It is an organization that encourages sports knowing fully well that a healthy workforce is encouraged by sports and participation in exercises. Subsequently, we will continue to give a good showing of ourselves ensuring that we participate in the spirit of networking, recreation, unity, bond building that this competition is meant for but most importantly to ensure that we give a good account of ourselves in subsequent competition. There were challenges faced like getting players to leave their working beat to come out for training; getting them to succumb to the dictates of the coaches (because when people are earning salary, it is not always easy to control them), we were able to surmount it because of the interest of the gameandformostoftheplayers,footballistheirhobby. ISSUES IN THE NEWS ISSUES IN THE NEWS ISSUES IN THE NEWS Charles Okaga Compiled by Oluwatoyin Amao Imust say we deserve winning the competition and I knew from the first match in this tournament that my team will win because there is teamwork, unity, love between the players and we understand each other strengths and weaknesses. There were a lot of challenges faced while preparing for the tournament but I must say it paid off in the end. We will continue to make the managing director proud by winning in subsequent competitions. The organizers of the tournament should keep getting better yearly and also other organizations in the maritime sector should support them and this can be done if there is a lot of awareness via socialmedia,television,radioetc. Ibifubara Dagogo Iam excited and overwhelmed. Winning this competition is a great deal for us the players and even the organization at large and I must say we are proud of ourselves. A lot of hardwork was put into this and I must say personally the management of NPA tried a lot to see that the efforts of the players was not put to waste. Can you believe I came all the way from Calabar port to join the players and all transportation and accommodation was taken care off by the management and I love the fact that my team accepted me. I want the organizers to please look into thetimingofthematches.Itwouldbeniceifthematchescanbefixedinthemornings. Mubarak Usman Ifeel very excited. I must say this is not luck because my team were prepared for this and we got to win. A l o t o f h a r d w o r k , e n e rg y, commitment, unity was put into this and our effort was crowned with victory. We faced challenges when preparing for the competition because some of us are new players who havent played for a long time, so the idea of selecting players from each department of the organization was demanding because at first there was no unity but as time goes by we became friendly with each other and getting ourselves to be unified was one hurdle I am glad we surpassed. Also, I would love my team to keep winning because it doesnt get easier, hoping that in the next years competition we will becomechampionsagain. John Matthew Ifeel very happy winning an award despite been on the losing side. I did my best from the beginning of the tournament to the end. So many challenges were faced during the preparation of the competition because there was no 100% support from the management of my organization but all team members had to support t h e m s e l v e s a n d s e e t h a t t h e organization was well represented at the tournament. The purpose of every team in any tournament is to win and I am sure that in the next tournament, we will put in our best and work hard to see thatwewin. Augustine Chibuzor Ifeel so happy receiving this award because I never expected it.This is my first time playing for Nigerian Navy and I must say I love my team because they all put in so much hard work, sacrificing their time and making sure they are committed to the game and as you can see Navy came all out to support their players and I give kudos to the management of Navy. I want to thank the organizers for putting all this together and I want to use this m e d i u m t o a s k g o v e r n m e n t parastatals in the maritime sector to encourage and support Ships & Ports in making this competition a grand one. Iseoluwa Ayetoba Ifeel very happy my team won the competition. The players have been in the camp preparing all these while and I am happy that their effort was not in vain.All what they did since the beginning of this tournament till the final is as a result of hard work. I give kudos to my team for a job well done. I want the organizers of the tournament to get a better pitch in subsequent tournaments in order to get the best of the players. Also, they should make a lot of awareness months before the start of the tournament because this will give room for organizations in the maritime sector to support and take this competitiontoagreatlevel. Zwalvan First and foremost, I want to appreciate my teammates for keeping up the good fight, unity and winning spirit. We really deserve the cup because we worked a lot by practicing everyday and staying true to the course of winning. I must say we played with stronger and skilled opponents. I cant believe it that I was able to score the goal that led to us winning the competition. I want to thank the organizers for their efforts yearly and for keeping the spirit of football alive in the maritime competition. This is worth emulating and I want to ask other organizations in theindustrytosupport Ships &Ports insubsequentcompetitions. Charles Shedrach PAGE 5
  • 6. Ocean freight rates, which have driven the exceptional results we have delivered in 2022, were again up both year-on-year and compared to the second quarter. However, it is clear that freight rates have peaked and started to normalise during the quarter, driven by both decreasing demand and easing of supply chain congestion." In the Ocean sector, revenue increased over the quarter to US$18 billion and EBIT rose to US$8.7 billion mainly driven by significantly higher freight rates on contract and shipment on routes from Asia to Europe and to North America, partly offset by a decrease in volumes and by higher costs related to bunker, container handling andnetwork. "With the war in Ukraine, an energy crisis in Europe, high inflation, and a looming global recession there are plenty of dark clouds on the horizon. This weighs on consumer purchasing power which in t u r n i m p a c t s g l o b a l A. P. M o l l e r - Maersk's results in the third quarter of the year showed higher profits in all its three main activities: Ocean, Logistics & Services and Terminals, compared to the same periodlastyear. The Danish company's revenues increased by 37% and both EBITDA and E B I T i n c r e a s e d b y a p p r o x i m a t e l y 6 0 % compared to Q3 2021, while global container volumes are estimated to have declined by 3% in the sameperiod. Maersk's revenue reached US$22.8 billion, EBITDA increased to US$10.9 billion and EBIT climbed to US$9.5 billion. Additionally, the carrier achieved a profit of US$8.9 billion for the third quarter and US$24.2 billion for the first nine months of the year. The CEO of Maersk, Søren Skou, said, ”Our third quarter result was another record and the 16th quarter in a row with year- on-year earnings growth. saw his direct supervisor in the hallway outside the locker room, Monegro began stabbing him with a knife while they were both in the hallway in full view of severalcrewmembers. The victim grappled with Monegro and the two fell to the floor. Monegro then got on top of the victim and continued stabbing him. Monegro then removed a second knife from the victim's coveralls and stabbed him with both knives. The other seafarers of the ship attempted to intervene to stop Monegro, including throwing a trash can at him, but their actions w e r e u n s u c c e s s f u l , according to US attorney's officestatement. Monegro stopped stabbing the victim only when he became too tired to continue. In total, Monegro stabbedthevictim31 times. The ship's captain, chief mate and chief h e B r a z i l i a n TAssociation of Port Terminals (ABTP) has filled a legal request at t h e A d m i n i s t r a t i v e E c o n o m i c D e f e n s e Council (CADE) of Brazil to investigate the impact of t h e w o r l d ' s l a r g e s t container shipping line, Mediterranean Shipping Company (MSC) on the country's economy. ABTP accused the shipping giant of abusing its domination of the container shipping sector i n B r a z i l t o g i v e advantages to its own terminals, raising costs and reducing options for the flow of cargo in the country. ABTP noted that MSC and its 2M Alliance p a r t n e r M a e r s k a r e responsible for 79% of containers (53% directly and another 26% through commercial agreements) transported along the Braziliancoast. According to the MONDAY, NOVEMBER 14, 2022 Filipino seafarer, Aw h o f a t a l l y stabbed a fellow crew member on the 14,000 TEU c o n t a i n e r s h i p M S C Ravenna en route from Shanghai to Los Angeles, was sentenced to 20 years in federalprison. M i c h a e l D e q u i t o Monegro, 44, a resident of the Philippines,wassentenced byUnitedStatesDistrictJudge Dale S. Fischer, who said in court at a hearing on 7 November that Monegro's “conduct was unusually heinous,cruelandbrutal.” dressing room on the ship's upper deck, preparing for their shift and waiting for their direct supervisor to p r o v i d e t h e i r w o r k assignments for the day, a c c o r d i n g t o t h e U S attorney'sofficestatement. Shortly after Monegro The murder took place on 20 September 2020, when the Liberian-flagged container vessel was approximately 80 nautical miles from Southern California. That morning, several crew members were in a Filipino seafarer jailed 20 years for brutal murder on MSC Ravenna engineer all arrived on the scene during the incident, and the captain convinced Monegro to get off the victim, who died on the ship frommultiplestabwounds. M o n e g r o w a s convinced by the captain to walk to a conference room. A f t e r c o n t i n u e d discussions, Monegro placed the knives on the conference room table and was escortedtohis cabin. After the incident, Monegro was confined to a cabin and crew members were assigned to guard the door, so they were unable to perform their normal duties ontheship. Federal agents arrested Monegro after the ship docked at the Port of Los Angeles on 27 September 2020. He has been in federal custodysincehisarrest. “The tragic impact of defendant's conduct cannot be overstated,” prosecutors argued in a sentencing memorandum. MSC accused of abusing dominant position in Brazil origin/destination of the cargo. Maersk and MSC launched the 10-year 2M Alliance vessel-sharing agreement on the Asia- Europe, trans-Pacific and trans-Atlantic trades in 2015, in an effort to better utilise their combined capacity in the wake of their failed bid to launch the P3 Network. The arrangement, which includes a series of slot e x c h a n g e s a n d s l o t purchases on East-West routes, also involves Maersk and MSC taking o v e r a n u m b e r o f charters and operations of vessels chartered to H y u n d a i M e r c h a n t Marine (HMM). group, the control of the flow of cargo is done in such a way that the seven port terminals owned by the 2M Alliance members would be favoured to the detriment of others, even in cases in which other ports are closer to the Company, and it will have an inauguration ceremony and naming it on November 13,” a Qatari official, Omar AlJaber, said. T h e M S C Wo r l d Europa, which boasts i n n o v a t i v e a n d environmentally advance features, can house 6,700 World Cup fans. It is 47 metres wide with 2,626 cabins and 40,000sqm of publicspace. With only 10 days before the kick-off of football's biggest event, the MSC World Europa serves as the first of three floating hotels to anchor in the country, with the second one scheduled to arrive on Monday, November14. The first of the three cruise ships that will serve as floating hotels for World Cup fans has arrivedinQatar. The 2022 FIFA World Cup is scheduled to hold from November 20 to December 18 in Qatar. It is the first World Cup to hold intheMiddleEast. The 22-deck cruise ship MSC World Europa docked at Old Doha Port on Thursday. It will officially be inaugurated on Sunday, November13. “ T h i s c r u i s e i s considered its first voyage to Qatar, where it was built for the World Cup in particular, and it is considered the l a rg e s t s h i p i n M S C Qatar charters cruise ships to lodge World Cup fans Maersk books $22.8bn revenue, $9bn pro it in Q3 as well as the completion of the divestment of the Terminal's share in Global Ports Investments in Russia. As a result of slowing economic activity, Maersk expects global container d e m a n d t o c o n t r a c t between –2 and –4% in 2022. Moreover, Maersk announced full-year guidance for underlying EBITDAof around US$37 billion, an underlying EBIT of around US$31 billion and a free cash flow aboveUS$24 billion. Given the unfolding economic slowdown, which is also expected to continue into the coming year, APMM has lowered its outlook for the growth of 2022 global container demand to between –2/- 4 % d e c l i n e f r o m previously the lower end ofthe+1-/1%range. Capex guidance for 2 0 2 2 - 2 0 2 3 r e m a i n s unchanged at US$9-10 billion, according to the latestMaersk's report. "As anticipated all year, earnings in Ocean will come down in the coming periods. Our overall transformation momentum remained very strong as we continue to g r o w o u r L o g i s t i c s business rapidly. For the first time, revenue in Logistics exceeded US$4 billion in one quarter, and we expect to continue to outgrow the market in Logistics based on new customerwins,”Skousaid. t r a n s p o r t a t i o n a n d logistics demand," Skou said. "While we expect a slow-down of the global economy to lead to a softer market in Ocean, we will continue to pursue the growth opportunities within our Logistics business. As a trusted partner, we are ready to support our customers in rethinking their supply chain needs through what is likely to be a period of a more volatile business environment,”headded. In the Logistics & Services sector, Maersk continued to invest in its portfolio and capabilities. The acquisition of LF Logistics was completed, the intended acquisition of Martin Bencher Group was announced, and the warehouse, distribution center and cold storage f o o t p r i n t w e r e significantly expanded with 21 incremental facilities across key m a r k e t s l i k e L a t i n America, Europe and India. Revenue in this sector grew 60% to US$4.2 billion and EBIT increased to US$258 million mainly due to added revenue from acquisitions and higher volumes, in particular among Maersk's existing top200customers. Furthermore, in the Terminals sector, revenue grew to US$1.1 billion and EBIT increased to US$357 million, mainly driven by higher volumes and prices Skou PAGE 6
  • 7. MONDAY, NOVEMBER 14, 2022 he US Navy is Tfacing recruiting challenges in a tight labour market, and has raised its maximum enlistment age to 41 in order to attract more sailors to the fleet. TheNavy is also lookingto increase its use of bonuses a n d o t h e r fi n a n c i a l incentives to attract recruits. T h e m i d d l e a g e recruits will be eligible to s e r v e i n c o m b a t assignments in some of the m o s t p h y s i c a l l y d e m a n d i n g N a v y communities, including theNAVYSEALs. “As we continue to navigate a challenging recruiting environment, raising the enlistment age allows us to widen the pool of potential recruits, creating opportunities for personnel who wish to s e r v e , ” U S N a v y Commander Dave Benham under, but some officer programs welcome older recruits, and the age limit fornewreservistsis 40. US citizens above the age of 41 have another option for serving their country at sea. Older individuals can obtain M e r c h a n t M a r i n e r Credentials from the USCG and apply to sail aboard US Navy ships as civil service sailors with the Military Sealift C o m m a n d . R e c r u i t s deciding on this option, however, must be able to obtain a security clearance and be capable of passing pre-employment physical examination. toldtheNavyTimes. The US Coast Guard i s a l s o l o o k i n g f o r dedicated individuals to join its ranks, and the age limits are slightly more flexible. Active duty recruits must be aged 35 or China cancels 1,700 lights as COVID-19 surges Cruise demand returns to pre-pandemic levels e s t i m a t e s o f 9 2 % . Adjusted profit came to 26 cents a share, above the 14- cent average of estimates compiled by analysts. Revenue rose to $2.99 billion, compared with analysts' projections of $2.97 billion. Despite inflationary headwinds on fuel and food, Royal Caribbean said demand is strong. Its passengers tend to be high earners, with median household incomes greater than $100,000, and are less a ff e c t e d b y c u r r e n t c o n s u m e r s p e n d i n g challenges. Royal Caribbean expects record yield in 2023, with customers s p e n d i n g m o r e o n bookings and on cruises thantheydidin2019. Royal Caribbean C r u i s e s s a i d occupancy has rebounded to pre-pandemic levels, with bookings running higher than the third quarterof2019. The second-largest cruise operator reported third-quarter results Thursday that surpassed investors' estimates and said customer demand met 2019 levels for the first time since the COCID-19 pandemic shut down cruises. “Our business is back,” Chief Executive Officer Jason Liberty said in an interview. “Our load factors are in the mid-90s. We're inchingourwayback.” Occupancy for the third quarter was 96% overall,beatingWallStreet Thailand. Thirty-three aircraft flew overhead, including submarine- hunting patrol planes and helicopters. “We must be ready for those who violate rules and who would use force to trample on the peace and security of other nations,” Prime Minister Fumio Kishida said in a speech on the Japanese helicopter carrier Izumo. “We will formulate a new national security strategy by year end and drastically strengthen Japan hosted its first international fleet review for seven years on Sunday with ships from 12 other nations in a show of unity as North Korea fires record numbers of missiles and China increases its pressure onTaiwan. The naval parade in Sagami Bay near Tokyo involved 38 vessels, 18 from friendly countries such as the United States, South Korea, B r i t a i n , A u s t r a l i a , S i n g a p o r e , I n d i a a n d Japan hosts 12-nation multilateral naval display which had threatened to derail closer cooperation betweenthetwo U.S. allies. Japan refused to join South Korea's fleet review in 2018 after Seoul asked it not to fly its rising sun ensign, which South Korea views as a symbol of J a p a n e s e w a r t i m e aggression. Tokyo declined to invite South Korea to a planned2019 review. Both countries have, however, drawn closer as North Korea ratchets up its missile launches, including a suspected long-range missile on Thursday that triggered an alert in central and northern Japan for residentstoseekshelter. China, which has criticised Japan's defence s p e n d i n g p l a n s a n d declined an invitation to join the review. Russia was not invited because o f i t s i n v a s i o n o f Ukraine. our defencecapabilities.” K i s h i d a h o s t e d dignitaries on the Izumo before flying to the U.S. Navy aircraft carrier USS Ronald Reagan to meet A m b a s s a d o r R a h m Emanuel and senior navy commanders. “What upsets China most is we have allies, they a r e e x p a n s i v e a n d extensive,” Emanuel said after accompanying Kishida on a tour of the Ronald Reagan. Kishida's Liberal Democratic Party has pledged to double Japan's defence budget to around 2% of gross domestic productwithinfive years. South Korea's decision to join Japan's event came as ties between the neighbours improved after a spat over compensation for wartime labourers and Korean women forced to work in Japanese military brothels, permanent resident lived withhis wifeandchildren. Yoo is a son of Yoo Byung-un, a businessman who founded the Evangelical Baptist Church in South Korea and whose family controlled I-One-I, an investment vehicle owned by his two sons that ran the s h i p p i n g c o m p a n y , ChonghaejinMarine. Chonghaejin owned the Sewol ferry that capsized off the country's southwest coast in April 2014. Investigators s a i d t h e f e r r y w a s overloaded, structurally unsound and traveling too quickly. .S. Supreme Court UJ u s t i c e S o n i a Sotomayor on Thursday r e j e c t e d a b i d b y a businessman to block his extradition to South Korea to face embezzlement charges that stemmed from a 2014 ferry sinking that killed 304 people. Sotomayor rejected Yoo Hyuk-Kee's request to prevent his extradition from going forward while he appeals lower-court rulings rejecting his effort to avoid being sent to South Korea to face trial on the seven embezzlement charges againsthim. Sotomayor is the justice a s s i g n e d t o r e v i e w emergency appeals from a group of states that include New York, where Yoo's extradition case had been pending. Yoo, who is also known as Keith Yoo, had been a fugitive for six years before his July 2020 arrest at his home in Pound Ridge, New York, a New York City suburb, where the U.S. Sewol Ferry: U.S. Supreme Court rejects bid to stop Yoo's extradition the family's diversion of money contributed to Cheonghaejin Marine's financial deterioration, which led to the neglect of ship management and staff safetytraining. Yoo's lawyers had argued that the U.S. State Department – not judges – should decide whether South Korea waited too l o n g t o s e e k Yo o ' s extradition under its 1998 treaty with the United States.The NewYork-based 2nd U.S. Circuit Court of Appeals in August rejected thatreadingof thetreaty. After the 2nd Circuit last month declined to reconsider, Yoo's lawyers asked the Supreme Court to block his extradition from taking place while he mounted a further appeal. “This harm would be i r r e v e r s i b l e a n d catastrophic; i.e., any relief granted to Mr. Yoo by the Supreme Court would be moot,” they wrote in a filing onWednesday. The father,Yoo Byung- un was found dead of unknown causes in an o r c h a r d t w o m o n t h s following the accident after eluding authorities who weresearchingfor him. S o u t h K o r e a n prosecutors have alleged that Yoo Hyuk-Kee had f r o m 2 0 0 8 t o 2 0 1 4 leveraged his family's power as business and religious leaders to defraud v a r i o u s c o m p a n i e s controlled by I-One-I out of 29 billion Korean won, or $23 million at the time of his arrest. The prosecutors said Many airports across China have cancelled majority of their flights due to a surge in COVID-19 cases in the country, China's state newspaper, Global Times reportedonThursday. The southern Chinese metropolis of Guangzhou, which had a particularly bad outbreak of cases, cancelled over1,000 flights. More than 700 flights were cancelled at two major airports in the capital Beijing. The government is i m p l e m e n t i n g s t r i c t measures to contain the spread of the virus, such as fl i g h t c a n c e l l a t i o n s , MONDAY, NOVEMBER 14, 2022 US Navy raises sailors recruitment age to 41 l o c k d o w n s , f o r c e d quarantines and mass testing. Despite the country's zero-COVID-19 policy, which has severely strained its economy, the number of infections across China has beenrisingagainfor weeks. After reporting 8,176 coronavirus cases the day before, authorities reported a r o u n d 8 , 8 0 0 m o r e infections nationwide on Thursday. T h e n u m b e r o f infections in major cities other than Guangzhou, such as Beijing, Shanghai and Chongqing, has also b e e n r i s i n g a g a i n recently. PAGE 7