Determined to attract foreign vessels to fly Nigerian flag, and affordable offshore funds to Nigerian ship owners for vessel acquisition, the Committee on Review of Nigerian Ship Registry, has handed over its preliminary report to the Nigerian Maritime Administration and Safety Agency (NIMASA), for implementation.
The committee, which was set up by NIMASA to look into the issues hindering Nigeria from having a competitive ship registry and to make recommendations based on its findings, handed over its report to the agency, on Monday in Lagos.
Dakuku Peterside, director general of the NIMASA, who received the report, said that, there are no too many oceangoing vessels that presently fly Nigerian flag such that even the Nigerian LNG carriers fly other countries flag.
According to him, a United Kingdom flagged vessel is believed to meet every global standard, man by the right people and will not be involved in illegal activities because there are minimal standards acceptable by the UK Ship Registry, which cannot be said for a ship from a flag of convenient or pool registry.
“Nigerian flag can bring respect and reputation for Nigerian ships if the Nigerian Ship Registry is solid, reputable and business friendly. It will command global respect and attract vessels to register in Nigeria while Nigerian owned vessels leaving the nation’s shores will earn its own respect,” he said.
Peterside said that building a competitive registry will mean technical competency and more dispositions by the international community to Nigerian flagged vessels and give access to funding in the international financing space.
“The vessels registered in Nigeria can play big, if the nation’s ship registry commands respect. This means that ship owners can now attract funding at competitive and relatively cheap rates. There are funding out there but if the vessels are not registered with a flag that commands respect, people will deal with such ships with caution,” he stated.
He further said that this will enhance the status of the Nigerian seafarers and attracts the best hands to work for Nigerian ship owners. “If a ship is UK flagged, it means all the seafarers are found to be competency and any seafarer onboard such vessel can be employed anywhere believing that such seafarer has the needed competency.”
Peterside, who disclosed that the agency, will in the next 72-hours set up an implementation and monitoring committee that would implement the recommendations, said that solid registry will help solve the sea time training problems for Nigerian cadets.
“A good ship registry will drastically reduce the insurance premium payable by Nigerian flagged ships because Protection and Indemnity Clubs (PIL) in London will treat the ships knowing that it is technically solid with good safety records.
He however added that high quality flag will improve turnaround for Nigerian flagged vessels because Port State Control officers will have no reason to neither delay nor detain Nigerian flagged vessel.
Earlier, Emmanuel Ilorin, chairman of the committee, said the committee took their research to Norwegian government, UK and American governments, who not only open their doors to the committee members, but also promised to support them building strong registry.
