Category: Maritime

    As the price of natural gas in Asia remains steady since last month, no fewer than 14 vessels have left Onne Port between June and July this year with 947, 000 metric tonnes of Liquefied Natural Gas (LNG). The liquefied gas is valued at N298.9billion ($830.5million) in the Asian market. In the last six months, the price of LNG in Asia has reached $877 per metric tonnes. It was learnt that the surge in the export of the product is as a result of high demand driven by…

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    Despite the huge investment in the port industry, operators of bonded terminals are in bad debts.   It was learnt that some terminals have been closed down because of bad debts and poor infrastructure.   According to the Executive Secretary of the Association of Indigenous Bonded Terminal Operators of Nigeria (AIBTON), Mr Haruna Omolajomo, some members of the association had invested more than N3trillion in the Nigerian port sector.   He explained that the investments include building, equipment and other assets.   Omolajomo said in Lagos that the association…

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