Crude Affreightment: NIMASA Revives Move to Change Terms of Trade
…Seeks new maritime security strategy The Nigerian Maritime Administration and Safety Agency (NIMASA) has revived efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF)….
Hold NIMASA responsible if ship owners fail in CIF for lack of vessels—Experts
The regulator of maritime activities, Nigerian Maritime Administration and Safety Agency (NIMASA), even though was part of the new arrangement with the Nigerian national Petroleum Corporation (NNPC) to adopt the Cost Insurance and Freight (CIF) trade term rather than Free…
FOB Vs. CIF: Can any crude buyer allow NNPC to determine delivery vessel?
Whereas Nigerian ship owners’ have lauded moves by the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Maritime Administration and Safety Agency (NIMASA) to incorporate them into the business of crude lifting, maritime logistics expert have picked holes in the…
