We have no faith in govt, CVFF again—Ship owners

FUNSO OLOJO

The almost unending wait for the elusive Cabotage Vessel Financing Funds(CVFF) by the indigenous ship owners has make them tired and wary and consequently resulted to the waning hope and loss of confidence in government sincerity to improve their sagging fortunes through the badly abused capacity building scheme.

The Cabotage fund, which is a derivative of Cabotage regime, is a  pool of funds derivable from the two per cent of the Cabotage contracts proceeds made by indigenous ship operators and meant to be given out as soft loans to indigenous operators to enhance their participation in the coastal trade.

However, after over 10 years of long, hard wait without the ability to access the funds, the local ships owners have declared their waning interest in the scheme.

Captain Niyi Labinjo, the President of Nigeria Ship Owners Association(NISA), gave the hint of the disillusionment of the operators when he downplayed the relevance of the CVFF in the continued efforts of the association to search for succor for its distraught members.

CFFF? Forget. They (government officials) exhausted the funds’’, he claimed, as a matter of fact.

He however disclosed that rather than sit and sulk over the delayed promises of government t, the indigenous operators have taken their destines into their own hands by searching for the other avenues through which they could get empowerment and improve their lots.

While explaining the modalities for the accessing the vessels offered by their Greek counterparts in an exclusive interview with Hallmark, Labinjo disclosed that the recent procurement of 40 vessels through the collaborative efforts of the two partnering ship owners associations,would be given out to all members of NISA according to their capacity.

He declared that the vessels were procured on bare-boat arrangement.

‘’It was based on dry lease arrangement, what is called ‘’disponent owners’’ whereby the beneficiary would crew it, maintain it, manage it and procure all the necessary certifications that will enhance its operations’’, he stated.

Though he would not disclose the payment arrangement and the amount of money to be paid by each of the beneficiaries before they could take full possession of the vessel, Labinjo however said the process would not be stressful and it is rancour-free.

He declared that all the members will benefit from the arrangement as the initial 40 procered would be the first batch of the scheme.

‘’We have a roadmap, we will not stop at 40 vessels, it is an on-going thing and a committee has been set up to work out the modalities for their disbursement’’, the NISA chief noted.

Labinjo took a swipe at government on what he described as its gross insincerity over the disbursement of the CVFF over 10 year it came on stream.

He noted that what the government could not achieve through the CVFF, his association, NISA , has been able to achieve and even surpass it as the arrangement with the Greek ship owners would ensure the capacity- building of indigenous ship owners.

Labinjo however lauded the support of the Nigerian Ambassador to Greece, Ambassador Lawrence Ayodele Ayodeji, who he said facilitated the deal.

It would be recalled that NISA signed a Memorandum of Understanding (MoU) with the Greek ship Owners who agreed to give out 40 vessels to their Nigerian Counterparts on bare-boat arrangement that will allow the Nigerians to defray the cost of the vessels within two years of delivery after which they can take full possession.

Also, Greece, under the agreement, will build a ship yard in Nigeria as well as a college where they will train Nigerians.

The partnership was facilitated by Ambassador Ayodeji who declared that the historic union will revitalize the maritime industry and put the indigenous ship owners in good stead to effectively take advantage s of the Cabotage trade which has always been dominated by foreigners.