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CMA CGM has announced an Overweight Surcharge (OWS) from Asia and India East Coast to Nigeria that has taken effect from April 28, 2023. The French Ocean carrier said that Nigerian importers will pay an overweight surcharge of US$250 (about N115,000) per TEU (Twenty-foot Equivalent Unit) on dry containers with a container gross weight equal to or more than 18 tons from China, South East Asia, North East Asia, and the East Coast of India to Apapa, Tin-Can, and Onne ports
CMA CGM has announced an Overweight Surcharge (OWS) from Asia and India East Coast to Nigeria that has taken effect from April 28, 2023. The French ocean carrier said that Nigerian importers will pay an overweight surcharge of US$250 (about N115,000) per TEU (Twenty-foot Equivalent Unit) on dry containers with a container gross weight equal to or more than 18 tons from China, South East Asia, North East Asia, and the East Coast of India to Apapa, Tin-Can, and Onne ports. The surcharge would be applicable to short-term contracts of three months and below.
President of the Nigerian Chamber of Shipping Aminu Umar, has recently said that the freight rate increased to 70 percent as 50 percent of foreign trading vessels exited Nigerian waters in the past 16 months. Insecurity and skewed policies are responsible for exiting foreign vessels from Nigerian waters. The development had led to a scarcity of ships in the West African region and skyrocketing freight rates.
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The chamber president said that there was a more robust market for vessels in Europe than in Africa due to the ongoing Russia-Ukraine war. About 50 percent of vessels plying the Nigerian waters have returned to Europe between 2022 and date, he added. He wanted interventions of all stakeholders to bring down the freight rates to affordable rates to protect the trade interests of Africa, particularly countries in West Africa including Nigeria.
