Nippon Yusen Kaisha (NYK), the Japanese shipping major, has concluded plans to launch bond sale in the amount up to JPY27 billion (USD 255.1 million).
According to data provided by the company, the unsecured bonds would be offered in two tranches. The first tranche is for an amount of JPY 13 billion and has a maturity of five years and it has a closing date of the issue, put at August 29, 2019.
The amount of the second tranche is JPY 14 billion with a maturity period of 10 years, or until August 29, 2029.
NYK recently released its financial report for the period ended June 30, 2019, in which it noted that the company returned to the red. Namely, NYK ended the quarter with a profit of JPY 9.14 billion, compared to a loss of JPY 4.59 billion reported a year earlier.
However, its revenue for the quarter dropped by 12.6 percent to JPY 406.4 billion from JPY 464.9 billion of revenue recorded in the same three-month period of 2018.
Work with CRFFN to attract cargo, expert tells bonded terminal operators
Boniface Aniebonam, founder of the National Association of Government Approved Freight Forwarders (NAGAFF), has called on members of the Bonded Terminal Operators of Nigeria (ABTON) to collaborate with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and other freight forwarding associations in Nigeria to grow their businesses.
According to him, this will ensure that cargoes are attracted to various bonded terminals that are located in Lagos.
Speaking at the second annual National Bonded Terminal/Logistics Conference (ANBTLC 2019) held in Lagos recently, Aniebonam, who claimed that the seaport terminal operators starve the bonded terminal operators of cargo, said that many are closing shop due to lack of business.
He urged them to leave the comfort of their offices to source for business because seaport terminal operators would not ordinarily stem cargo to bonded terminals when they are struggling on their part.
“The contract of affreightment is very definitive. It allows the importer to determine where his/her cargo should go to. So, if bonded terminals are lacking cargo, they should enter into synergy with NAGAFF, CRFFN and other licensed Customs agents, who have the opportunity to advise their clients (importers) on the terminal to destined their cargoes,” he added.
Meanwhile, Ambrose Obioma Okehi, CEO of Richword Communication and Media Services, the convener of the event, said it was designed to bring the plight of these investors closer to the authorities by creating the needed awareness.
Okehi said that as media practitioners, his firm was prompted to bring the problems of this group of investors to limelight by the role of media as watchdog of the society and agenda setter.
He frowned at a situation where the government would be collecting annual fees and renewal license fees from bonded terminal owners without giving them the needed enabling environment to operate in.
