Speaks on Maritime Centre of Excellence and others

L/R: Dr. Charles Okorefe, Maritime Expert and Senior Lecturer at the Nigerian Maritime University, Okerenkoko, Delta State, Abdulkadir Ahmed, MD/CEO NLNG Shipping and Marine Serves Ltd, Mr. Isichei Osamgbi, Director Administration and Human Resources, Representative of the DG NIMASA, Dr. Dayo Mobereola, at the AMJON Finance Conference at Sheraton Hotel, Lagos.

The MD/CEO, NLNG Shipping and Marine Services Limited (NSML), Mr. Abdulkadir Ahmed has emphatically stated that access to finance is very critical and of utmost importance in acquisition and construction of ships that will propel the Nigerian maritime sector towards emerging as a global player.

Speaking as the Chairman and Special Guest of Honour at the 2024 edition of the Association of Maritime Journalist Association of Nigeria (AMJON), Maritime Finance Conference in Lagos on Thursday, August 22, 2024, Abdulkadir noted that strict compliance with standards will ensure that ships are not only built and operated to the highest quality and safety standard but are also able to trade both locally and internationally.

The NSML boss explained that ship owners and prospective players need to ensure a proper understanding of the dynamics that lead to success in the constantly evolving maritime sector.

His words: “Shipping is a hugely capital-intensive activity, and accessing financing is key for acquisition and construction activities.  Irrespective of the market owners play in, the importance and role of finance cannot be overemphasized”

“The need to have fully compliant vessels trading internationally is of paramount importance and all stakeholders must understand the ever-changing dynamics to ensure compliance right from the point of conceptualizing the acquisition or construction of the vessels”  Ahmed said.

Specifically, the NSML boss pointed out the importance of financial institutions including insurance institutions in the acquisition, construction and operations of vessels globally.

Reeling out figures , the MD/CEO of NSML said “According to the Petrofin Index for Global Ship Finance, the top 40 banks lending to shipping in 2023 was US$284.27bn, the total global bank lending of all banks, including local banks approached US$375bn in 2023”

“The significance of technical competence and expertise in shipping acquisition and construction, highlighting the complexity of the modern vessels, with the raft of advanced technology features, demands a high level of skill and knowledge right from the design and acquisition phase up to their operation”

On the area of shipping standards, Abdulkadir Ahmed explained that the landscape of maritime regulations is becoming more stringent with resultant impact on design and operations of both new and existing assets.

According to him, the NSML is unwavering in its operations of ensuring the vessels of clients are maintained to the highest standards globally, ensuring they are seaworthy, cargo-worthy and globally tradeable.

In his words “By so doing, we ensure that the owners enjoy a good return on investment (ROI) which is important to ensure the repayment of their loans”

“The shipping and maritime industry is a highly regulated one with great emphasis on safety, reliability and environmental sustainability. Compliance with conventions, regulations and guidelines primarily issued by the International Maritime Organization (IMO). IMO’s SOLAS (Safety of Life at Sea) convention, MARPOL (Maritime Pollution) convention are core pillars of operation in the global maritime industry.

“With the drive for decarbonization and emphasis on the need to reduce greenhouse gas (GHG) emissions, to combat the threats posed by climate change, there are a plethora of new rules and regulations owners need to be aware of when acquiring vessels.

“For us in NSML, we have been at the vanguard of driving compliance with standards and the regular training and development of our personnel to future-proof them in the ever-dynamic maritime industry. By so doing, we ensure that the owners enjoy a good return on investment (ROI) which is important to ensure the repayment of their loans”

On recent operations and activities of NSML, the MD/CEO said “We have also supervised the construction of newbuild vessels on behalf of our client in Korea, and the vessel is trading globally today, under our technical management”

“Our seafarers are competent, well trained and possess the international certifications required to operate these vessels in line with operational standards and protocols”

Maritime Centre of Excellence (MCOE)

On the NSML’s Maritime Centre of Excellence (MCOE) Ahmed said the Centre is pivotal to the provision of the requisite training programs for the development of staff of the company.

“The centre is well equipped to the highest standards with advanced simulators to deliver maritime courses required for career progression in the maritime industry. Additionally, the centre is open to organisations and private individuals requiring the requisite training to operate competently in the maritime sector”

“The MCOE recently got the UK Maritime and Coastguard Agency (UK MCA) accreditation of two courses – the STCW 2010 Electronic Chart Display and Information System (ECDIS) and Basic Liquefied Gas Tanker Cargo Operations courses”

“This is a testament to our unrelenting efforts to drive the change necessary for the development of the Nigerian maritime industry. This is a major step in driving the MCOE as the foremost full-fledged maritime training institution in Africa, in line with our vision of “supporting the growth of the Nigerian maritime industry”

“While we have highlighted the foundational importance of finance and insurance in the global maritime industry, these must be predicated on adherence to standards as well as the deployment of skilled and competent professionals. An integrative approach comprising of finance, standards and competence will create a robust framework capable of ensuring success in our shipping acquisition and newbuilding activities”.

“By adopting a holistic approach that goes beyond financing, we set ourselves on a course for sustainable growth, safety and operational excellence, in line with our strategy of “Be Safe, Be Reliable, Create Value”; which are key to the overall success of the Nigerian maritime industry” the NSML boss declared.