Nigeria Aims to Boost Vessel Capacity

28 February 2010 (Last Updated February 28th, 2010 18:30)

Nigeria plans to add 700 new vessels every year to its ship register from 2011, it has been revealed. The move follows the country's migration from a closed to a hybrid registry system, which limits Nigerian flagged vessels to less than 30 ships, reports businessdayonline.com. <

Nigeria plans to add 700 new vessels every year to its ship register from 2011, it has been revealed.

The move follows the country’s migration from a closed to a hybrid registry system, which limits Nigerian flagged vessels to less than 30 ships, reports businessdayonline.com.

The new registry is expected to liberalise the conditions for registration, reduce problems faced by Nigerian flagged vessels at foreign ports and reduce problems related to emergencies.

Under the hybrid registry, annual tonnage growth is expected to reach 500,000 from 2012 with the registration procedure getting simpler and faster, according to businessdayonline.com.