Shippers Council Tackles lnflated Demurrage Charges, Freight Rate Disputes with CRD Portal

By DAPO OLAWUNI

The Nigerian Shippers’ Council (NSC) has taken a significant step towards enhancing the ease of doing business in the maritime sector by introducing the automated Confirmation of Reasonableness of Demurrage, Freight Rate, and Charter Party Payments (CRD) portal.

Already, the Council has saved the Federal Government N31.1 billion between January and June 2024. This substantial saving was achieved through the automation of demurrage fee confirmation, representing a 400% improvement compared to the manual process used in 2023.

According to the Council, Executive Secretary of the NSC, Dr Pius Akutah, the CRD initiative is designed to address longstanding issues in the maritime industry, including inflated demurrage charges, freight rate disputes, and lack of transparency in charter party payments.

To this end, the Council in Lagos last week organised a training session for four shipping companies and one vessel charterer on onboarding the CRD portal.

The training session, held at the NSC Headquarters in Lagos, aimed to familiarize participants with the platform and marked the final phase of onboarding for these companies.

Mr. Michael Afolabi, Senior Programme Analyst, emphasized the importance of the training, highlighting its role in streamlining trade operations and reducing costs.

By automating and regulating these processes, the NSC aims to improve operational efficiency, reduce trade costs, and curb capital flight.

This development according to the Council is also expected to boost the competitiveness of Nigeria’s maritime sector and enhance the overall business environment.