RECESSION: Terminal operator reduces freight rates to woo vehicle importers

PORTand Terminal Multi-Purpose Services Limited, (PTML) through its shipping arm; Grimaldi Shipping has reduced freight rates on vehicle importation in a bid to address declining vehicle imports through its terminal occasioned by the current economic recession.Vanguard investigation reveals that vehicle imports through the company’s terminal have been on the downward trend since the beginning of the year.To address this developmentthe company, two weeks ago,reduced freight charge per vehicle to $900 from $1,400 charged.Confirming this development, Public Relations Officer of the PTML Command of Nigeria Customs Service, Mr. Steve Okonmah said that  the number of vessels that berthed at the terminal dropped by 15 vessels from 125 vessels in 2015 to 110 in2016.According to him, the number of 20 foot containersreceived in  2015 was 15,352,000, this however dropped to 10, 928,000 in 2016, indicating decline of 4,414,000.Also, the number of 40 foot containers received dropped from 10,000 in 2015 to 8,000 in 2016.According to Okonmma, the number of vehicles  importedthrough the terminal droppedfrom 35,000 in  2015, to 27,000 in  2016 showed that 27,000.A clearing agent operating at the PTML Terminal, Elder Sunday Nnebeh described the year 2016 as the worst in the history of Nigerian ports.He said that government policies have affected so many importers so much that they could not clear theircargoes from the port. He said the cargoes seen at the port are those stuck on demurrage .“ 2016 is the worst year ever that we have witnessed in terms of importation, the policy has affected all operators, even Abacha that we termed the worst was not like this”