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Nairaland Forum / Nairaland / General / Business / 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes (28522 Views)
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Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by forgiveness: 7:32am On Feb 23, 2016 |
All i see are parasites running away after having nothing to feed on no more and their fellow cohort wailing too because of the lose of a morsel of bread they have used to sell their birth right. What a great relief for my dear nation. By force by fire, we must learn how to produce and patronise our own products. Shikena 1 Like 1 Share |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Ijaya123: 7:35am On Feb 23, 2016 |
caleb404: Did you read the story at all? |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by amanze15(m): 7:39am On Feb 23, 2016 |
SoNature:ineptitude to do what?... maybe he should take every dine of our foreign reserves and pump into circulation and lets enjoy it for how long 6 months?! buhari is just unfortunate to be the one to bear the failings of a system overdependent on selling black gold, i met some Venezuelan students who told me about their petroluem sector which is synonymous with ours, but they got the largest freaking refinery of all oil producing countries in the world we all will atone for folding our arms and watched our oil wealth mismanaged since 1958 when the first oil field came on stream producing 5,100 bpd 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by amanze15(m): 7:40am On Feb 23, 2016 |
forgiveness: 1000 likes for you, 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by FullDepth1: 7:40am On Feb 23, 2016 |
aresa: Its safe to say that it's ignorant Children like you who tarnish the image of Nigeria. You have nothing good to say, nothing good to offer. Nothing good about you. You really need to change your orientation + mindset. 4 Likes 2 Shares |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by amunkita(m): 7:44am On Feb 23, 2016 |
Abeg make them no come back to west africa.. We re tired of imports.. Let those who still intends to import use the camels in the desert.. No be import dey mess up our Naira |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by forgiveness: 7:47am On Feb 23, 2016 |
amanze15: Thanks. Bros, those wailing should be placed in three categories: The wailing wailers, the importers and the ignorant ones. Sha i lie! |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Sammiejokes(m): 7:50am On Feb 23, 2016 |
I weep for a nation never ready to sacrifice for their generation unborn. Importation must be reduced to the bearest minimum. We must drive local production for what we can produce, foreign investors must be compelled to invest in local production not turn our dear country to dumping site. Nigeria has been growing her economy on importation, that is the major reason you hear Nigeria has the biggest economy in Africa, the fifth in the world but the citizen are one of the poorest in the world. We must start from the scratch. I bought bread yesterday at normal price i was surprised? dollar no affect bread price that is good, Why? local production of wheat flour is booming as we speak, Investors in wheat flour are smiling to the bank. For all of you wailing that buhari should officially devalue Naira, your prayers wont work, beer is still at pump price, i cant imagine buying a bottle of star at N400. 3 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Viktor1983(m): 7:59am On Feb 23, 2016 |
Jirate: |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Nobody: 8:03am On Feb 23, 2016 |
caleb404: by then irreparable damage would have been done to the country, Just pray we dont go the way of Greece, were cash withdrawals will be rationed. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by kingviny: 8:03am On Feb 23, 2016 |
Is it rocket science for Nigeria to have micro refineries? a 10,000bpd refinery can be built in less than 6 months. If 2,000 companies are given licence to do this and they all build simultaneously, we can have 2 million bpd of crude being refined daily in this country. This massive output will end oil importation and about 50% of the current dollar demand for importation of refined oil based products will go off. We can even export to other countries to earn dollars as such naira will then gain in strength. Jobs will be created in this sector and those employed will pay taxes which means more money for FG. We only need to take the right step, we cannot afford to wait for Dangote to build his 650,000 mega refinery that he says will be ready in 2018, now is the time to act. APC told us they will build micro refieries during their campaign, so, why cant they implement this ASAP ? |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Nobody: 8:05am On Feb 23, 2016 |
lukecent: What is he producing, it seems he imports all his raw materials, i dont he is producing anything he just imports, repackages and resells, import based businesses will suffer this time around. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by fortune1968: 8:05am On Feb 23, 2016 |
anonimi:and you refuse to wail over the clueless ineffectual Buffon and his team that looted the treasury dry . Can pple think ? 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Nobody: 8:06am On Feb 23, 2016 |
baby124: Baby economics indeed, when was the last time you picked up a hoe, do you have a small garden in your yard. Practice what you preach. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Nobody: 8:08am On Feb 23, 2016 |
Sibrah:now here u are calling Jonathan.... d economy wasn't as bad as dis wen he was president.... human beings like you can and will Neva be appreciative in any tin presented to......even d hausas are regretting PMB and here u are saying rubbish.... 9 months 9 months o and u r still wailing.... I rest my case |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by vislabraye(m): 8:08am On Feb 23, 2016 |
anonimi: Chai !! Buhari don suffer. 1 Like |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by obailala(m): 8:10am On Feb 23, 2016 |
The rate at which supposedly educated folks jump into arguments with only political/tribal sentiments as their tool of debate is shocking. How can anyone possibly analyse this situation based on only sentiments without giving any single thought or acknowledgement to the fall in oil prices? 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by obailala(m): 8:12am On Feb 23, 2016 |
Perfectdanny:Dont you think it's ridiculous that you choose to analyse this situation purely based on tribal/political sentiments but you give no single consideration to the real problem which is a negative balance of trade due to fallen oil prices? A man earns 500k monthly but can not feed his family, how can any person who claims to be educated and enlightened try to compare the living stand of such a man when he earned 500k to now when his salary was suddenly crashed to 150k? If you must compare GEJ to PMB, the only fair and reasonable comparison is to compare Nigeria of between October 2014 to May 2015 (being the starting periods of the oil price drop). |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by AyakaDunukofia: 8:17am On Feb 23, 2016 |
obailala: Same mentality around the globe. The opposition told Obama he owned the economy in 2008 and rightly so. Therefore, this is Buhari's economy, he owns it, no excuses. If it were doing well, sure u wouldn't say this. He must turn it around. 1 Like |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Forwetinnah: 8:18am On Feb 23, 2016 |
blackpanda: Which major group. ..you mean an article written by some dolt in order to get the illiterate cattle rearer's attention that landed him a Media PA gig right?! The same 'major media group' said this about boooooohari, how come you're not talking about that? You lot have refused to face reality. W.Bush(Republican) never blamed Clinton(Democrat) for the economic crunch in 07/08...he came, did his best and left. Obama(Democrat) never blamed W.Bush(Republican) for the mess he met the US in...he came in, he's done his best and will soon leave! The crop of politicians in the ruling party are all infantile dummies!! Even the ones with some sort of Education and exposure have been rendered worthless by association. Every administration leaves with achievements/accomplishment citizens remember them by, what would boooooohari's administration be remembered for? Blaming-Blamer, think!! It's close to a year already 3 Likes
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Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Montaque(m): 8:20am On Feb 23, 2016 |
Sibrah:And what is ur current FG doing? flying around like a wizard. He is not the Messiah u envisaged. 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by obailala(m): 8:22am On Feb 23, 2016 |
AyakaDunukofia:Well, politicians do make foolish arguments sometimes to score cheap political points, but to any sensible human, that does not negate the fact that it still remains a foolish argument. That is exactly what I was trying to point out. All we have here are some people scrambling to make ridiculously empty arguments devoid of logic in a bid to score political/tribal points. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Dee60: 8:23am On Feb 23, 2016 |
Nigeria has for long been seen a dumping ground for all kinds of goods, from toothpicks, to all kinds of rice and fish and tomato paste. The foreign shiping companies were the unintended beneficiaries of that. They brought in MEGA vessels full of all sorts and sailed back EMPTY because Nigeria did not have any exports to offer the world, apart from oil. Shanghai to Apapa for a 20' container cost USD2800 at one time. At that same time Shanghai to Hamburg cost only about USD150. Because of petro dollars we went on buying just everything and paying huge freght rates. All of the shipping companies wanted to be here to partake of the windfall. Now the tonnage deployed has far exceeded the demand and naturally the freight rates will fall. This is why the fringe players are packing their loads. Low freight rates are good for our economy, because it means landed cost of raw materials will be lower, duties will be lower, and NIgeria can produce at lower costs. We have an opportunity to turn around the economy like India and China did many years ago, by targeting low cost production that will enable Nigeria to export manufactured goods at scale to other countries. Nigeria must trade and must seek good trade balances. It is senseless to make your economy a dumping ground that we have been in the last 2 decades. Today, freight rates from major Asian ports to Nigeria is still about USD1500/20' and it is still significantly higher that Asia to Europe which would not noramlly exceed USD700. The information can be googled. It is available to everyone to see. If a shipping company will check out of Nigeria at the current rates, then it did not really have any reason to be here in the first place. CBN is rght on one thng. Nigeria cannot be treated as a dumping ground anymore. Low freight rates are good for the economy. At the current rate, any sincere shipping company will still be making a fortune. The main cost of shipping is bunker (oil) which are selling very low right now, meaning that the cost of sailing ships to Nigeria has dropped significantly. And some Nigerians are crying wolf! I dont understand that. 2 Likes |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by diegwu01: 8:24am On Feb 23, 2016 |
Would i ever i this forum, anyday encounter, be enlightened and learn something useful from a Wailer? or is it just foolishness that reigns supreme in their fold? Is it plain ignorance or deliberate stupidity? |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by ransomed: 8:25am On Feb 23, 2016 |
I thank God for this perfect development. Vessels that oil thieves use for "bunkering" stolen crude are going on "dismissal" after one another. Hurray! Those that used to collude with corrupt custom officers to bring in "Contraband" goods to spoil our economy are going AWOL. Wow! Indigineous ships should replace foreign sea liners to do clean, lawful business ventures. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by HzRF(m): 8:30am On Feb 23, 2016 |
Sibrah:
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Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by diegwu01: 8:31am On Feb 23, 2016 |
Dee60:trust me, A wailer won't read this, Its too long for them. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by blackpanda: 8:32am On Feb 23, 2016 |
[s] Forwetinnah:[/s] LOAD OF TRASH! |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by Forwetinnah: 8:33am On Feb 23, 2016 |
blackpanda: Empty as usual. ..very typical 1 Like |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by tiwiex(m): 8:38am On Feb 23, 2016 |
anonimi: Kai. Una wicked oh. But the last picture is not so bad. Looked like the listening president. |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by emi14: 8:44am On Feb 23, 2016 |
baby124: |
Re: 3 Major Shipping Lines Quit Nigeria As Freight Rates & Trade Volume Crashes by lukecent: 8:47am On Feb 23, 2016 |
kaeforum: Yes he imports the raw materials. But his father who source his own raw materials locally is also threatening to cut down the number of workers too |
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