Open AccessAn Appraisal of Demurrage Policies and Charges of Maritime Operators in Nigerian Seaport Terminals: the Shipping Industry and Economic Implications
Author(s) -
Obed C. Ndikom,
C Nwokedi Theophilus,
Sodiq Olusegun Buhari,
Kenneth Okeke Okechukwu
Publication year - 2017
Publication title -
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Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.33
H-Index - 15
eISSN - 1848-6320
pISSN - 0469-6255
DOI - 10.17818/nm/2017/3.3
Subject(s) - terminal (telecommunication) , container (type theory) , business , categorization , operations management , finance , operations research , computer science , economics , telecommunications , engineering , mechanical engineering , artificial intelligence
This research evaluated the demurrage policies and charges of selected shipping companies and terminal operators in the Lagos ports and the implications in the economy and shipping industry in Nigeria. It adopted the survey approach to gather data from the dominant container operators (carriers) and the terminal operators. Demurrage duration and categorization of the demurrage periods and charges for each period by the selected operators were collected and compared using the statistical tool of analysis of variance to determine if there are differences among the charges and charging systems. It was found that, significant differences do not exist in the average rate of demurrage charges per container per day among the shipping companies and terminal operators in Lagos seaports. The study also found that there is no significant difference in the average amount charged as demurrage among the shipping companies and terminal operators in the three differing periods of demurrage duration in Lagos ports, Nigeria. It was recommended among other things that, the Nigerian shippers’ council as the governmental body responsible for freight regulation and protection of shippers’ interest should by policy fix a uniform container demurrage rate for all terminal operators and carriers operating in Nigeria.