Hello People , a quick question , is the oil tanker ( ships) lucrative in Naija and secondly how does one get a ship from China with all the pirate stuff in Somalia right now ?

Any help here people

Oil tankers are not small investment. there are things that you need to consider before you embark on such venture.

1. Insurance: Because of the products (oil) you will be transporting, most countries will REQUIRE that you have a valid insurance before crossing their water. That way, if there is an accident or oil spill, the insurance will be responsible for clean up.
Also, the customer wants to be reimbursed if there is accident.

2. Age of Vessel: This ties a little with insurance. Most insurance company will not insure a ship that's too old. The storage tank might rupture and they don't want to take a chance.

3. Crew: You will need at least 3 standby crew on rotation to manage the ship. Each crew will consist of captain, mechanic, deck hands etc. Since these guys will not be working round the clock hence you need rotation.

4. Most clients will not allow you to lift their products if all these are in place.

5. Maintenance record: Reputable captain and insurance company will not take chance of vessels with dodgy or shady maintenance records. As a captain of a ship, i don't want to be stuck on high seas because the ship broke down due to non maintenance.
The client too will hate to wait and wait for product if your ship is constantly breaking down.


These are things that you need to put into focus before going into the business.

Good luck

Kunle

Thanks a lot I appreciate it, I know that some of these costs are associated with the tonnage of the ship in question , assuming we are dealing with a 2500 DWT ship could you give me a rough estimate of the potential cost especially if we are plying naija waters only

Unfortunately, i am not familiar with Naija's oil business environment. I am hoping that someone else will wade in

By the way, what are your plans for Naija waters? i mean from where to where? Just wondering.

It might be from the Delta to Lagos ( freighting for the most part)

Hello Kunle I sincerely appreciate your help here, I must admit I am not totally sure how the entire process is going to work yet , as we are at the preliminary stages but rest assured i will keep all informed of the progress being made and the business method being utilized , you have been of great help and thanks again

please keep us updated on things.

Good luck

Also consider the necessary payments yo would make to NIMASA and all the alls pertaining to registration of a vessel.