Fuel costs in Nigeria are anticipated to decrease once the Port Harcourt Refinery recommences operations, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN). The national petroleum company of Nigeria has pledged that the refinery will be operational within two weeks, prompting preparations by marketers to receive products from the facility. Both IPMAN and MEMAN have urged the Nigerian National
Author: Constance Makungu
Indian Navy successfully recovers hijacked Ruen cargo ship from Somali pirates
A spokesperson for the Indian Navy, on Saturday, confirmed that the Maltese cargo-ship Ruen has been recovered, as seen in the news publication, Reuters. The Ruen cargo ship, a bulk carrier built in 2016, which is currently sailing under the flag of Malta was hijacked by Somali pirates on December 14, 2023. The Navy spokesperson said that the pirates who reportedly hijacked the Maltese-flagged bulk cargo tanker on December 14,
AD Ports Group Hosts Iraqi Delegation to Bolster Bilateral Economic Ties
AD Ports Group (ADX: ADPORTS), a prominent global facilitator of logistics, industry, and trade, recently hosted an esteemed Iraqi delegation led by His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, alongside influential figures from various sectors. The meeting, held at Abu Dhabi’s Khalifa Port, focused on crucial projects aimed at enhancing international transport, logistics services, economic cooperation, and mutual interests. The bilateral discussions, attended by His Excellency Suhail
UAE Launches Blue Pass Platform to Elevate Maritime Industry
The Ministry of Energy and Infrastructure, in collaboration with NeoNautica, a prominent technology firm in the maritime sector, has unveiled the UAE Blue Pass platform. This strategic alliance aims to drive innovation and advancement in the UAE’s maritime industry. The UAE Blue Pass platform is poised to revolutionize the maritime sector by offering various benefits to maritime enterprises and vessels, fostering industry innovation and efficiency. The partnership was formalized during
Etihad Cargo and WFS Forge Three-Year Global Cargo Partnership
Etihad Cargo, the cargo and logistics division of Etihad Airways, has entered a strategic partnership with Worldwide Flight Services (WFS), a subsidiary of the SATS Group. This collaboration spans 12 major international airports, enhancing efficiency and service quality in key trade regions worldwide. Over the next three years, WFS will provide cargo handling services for Etihad Cargo, managing an annual volume exceeding 150,000 tonnes for the Abu Dhabi-based carrier. The
Transnet opens up port leasing opportunities
Transnet National Ports Authority (TNPA) has announced the opening up of about 100 leasing opportunities for port land and commercial developments at South Africa’s seven commercial seaports. TNPA said in a statement on Thursday that as part of the “approximately 100 lease opportunities” on offer, seaport facilities would be repurposed for economic activity, while vacant buildings would be made available for office, recreational and industrial purposes, unlocking diverse business opportunities
Red Sea rebels threaten vessel traffic around South Africa
Ocean carriers sailing around South Africa to avoid attacks on vessels in the Red Sea and Gulf of Aden have been added to the crosshairs of Yemen’s Houthi rebels as they threaten to extend their missile reach into the southern Indian Ocean. The new development to the crisis at the Horn of Africa comes after yet another maritime vessel was attacked as it sailed about 122 kilometres past Yemen’s Port
Benguela Business Leaders Urged to Grasp Opportunities in Lobito Corridor and Refinery
Governor Luís Nunes of Benguela province rallied local entrepreneurs to seize the potential presented by the Corridor and Refinery in Lobito. Speaking at the inauguration of Aliança Empresarial’s new headquarters, Nunes emphasized the critical role of unity among business leaders. With Aliança Empresarial expanding its membership by four, including notable organizations like the Angola Industrial Association (AIA) and the League of Businessmen and Executives of Angola – PRESTIGIO, the province
Munich Airport Leads German Freight Growth
Munich Airport stands out as the sole German airport to experience growth in freight transportation, reaching 90% of its pre-pandemic volumes from 2019. Data released by the German Airports Association revealed that Munich Airport achieved a notable year-on-year increase of 6.6%, handling 284,000 tonnes of cargo in 2023, while total volumes across Germany declined by 7.1%. The surge in freight can be attributed significantly to belly cargo, which saw an
Panama Canal Authority Expands Transit Slots to Meet Demand
The Panama Canal Authority (PCA) has announced an increase in daily transit slots in response to the current and projected water levels of Gatun Lake. In an Advisory to Shipping issued on Monday, PCA revealed the adjustment to accommodate the rising demand for transits. The PCA will be offering two additional slots through auction for transit dates starting March 18, with an extra slot becoming available for transit dates beginning