The US has unleashed a fresh wave of strikes on Iran after Tehran targeted a ship in the Strait of Hormuz, according to international media reports led by the BBC. ”Iran’s Islamic Revolutionary Guard Corps (IRGC) said it closed the waterway until further notice and warned of a severe response to US “aggression”, according to state media. Within hours of the US strikes, the IRGC said they had hit a US base in Jordan, while the United Arab Emirates, Qatar, Kuwait and Bahrain were all responding to missiles and drones…
Category: Economy
Securing the Strait: US Pushes Iran for Maritime Truce
Amid mounting anxiety over the safety of global shipping lanes, Washington is demanding that Tehran publicly declare the Strait of Hormuz open and explicitly pledge to stop attacking commercial vessels, according to the BBC News. The US ultimatum sets the stage for high-stakes, emergency diplomatic negotiations scheduled to take place between the two nations in Oman on Saturday. ”US media cited unnamed officials as saying Tehran had privately acknowledged to President Donald Trump’s advisers that the shooting at ships was a mistake, though the Iranians reportedly pinned the blame on…
ADR Triumph: Shippers’ Council Saves Maritime Stakeholders Over ₦90bn in Demurrage and Other Losses —Akutah
Driving trade efficiency through its regulatory mandate, the Nigerian Shippers’ Council (NSC) has blocked over ₦86.06 billion in unjustified demurrage charges since November 2023. Through robust Alternative Dispute Resolution (ADR) and strategic market interventions, the Council also secured an additional ₦4.54 billion and $1.348 million in direct savings for local shippers. Revealing these milestones, the Executive Secretary and Chief Executive Officer of the NSC, Dr. Akutah Pius Ukeyima, Esq, MON, FCILT, presented his administration’s performance scorecard during a media luncheon with maritime journalists in Lagos on Saturday, July 4. He…
Container Ship Grounds After Straying Into Non-Designated Hormuz Path
A foreign-flagged container vessel has grounded in the Strait of Hormuz after entering shallow waters outside the transit route designated by Iranian authorities, state media confirmed. Iranian state media reports on Wednesday, July 1, echoed the IRGC’s directive restricting all transit to the corridor south of Larak Island, designating it as the exclusive entry-and-exit lane for the Strait of Hormuz. This maritime bottleneck comes as renewed hostilities disrupt the fragile traffic recovery originally set in motion by the U.S.-Iran interim ceasefire agreement.
Oman Blocks Iran-Backed Tolls on Strait of Hormuz Shipping
Amidst escalating U.S.-Iran tensions, Omani Foreign Minister Badr al-Busaidi reiterated Muscat’s steadfast commitment to international maritime law and unhindered transit through the Strait of Hormuz. Speaking on Monday, the minister emphasized that any prospective navigation agreements with Tehran must guarantee safe and unconditioned passage. Oman is pushing back against proposed shipping fees in the Strait of Hormuz. On Monday, Foreign Minister Badr al-Busaidi reaffirmed Muscat’s commitment to securing safe, unhindered passage through the vital waterway amid spiking U.S.-Iran friction. Though Oman is collaborating with Iran to shape future transit rules,…
Dr. Ambi Hands Baton To Saka, Urges New Shippers’ Council Complaints Chief To ‘Add Value’
By: Yahaya Abdullahi Wachiko “ This is an iconic exit ,” Colleagues declare as retiring Complaints Chief bows out. In a milestone transition at the Nigerian Shippers’ Council (NSC), the outgoing Head of the Complaints Unit, Dr. Ambi, has officially handed over the mantle of leadership to his successor, Dr. (Mrs.) Obiageli Juliana Saka. The brief yet emotional handover ceremony took place on Friday, June 26, 2026, marking the end of Dr. Ambi’s meritorious service as he enters retirement. A Legacy of Fiscal Impact Reflecting on his tenure, which…
Maritime Boost: Port of Antwerp-Bruges to Revamp Burutu Port as Shippers’ Council Backs Sealink Project
In a move set to reshape regional trade, the Nigerian Shippers’ Council (NSC) has pledged total regulatory and institutional support to ensure the success of the Sealink Project. Describing the initiative as a game-changer, the NSC highlighted its power to revolutionize Nigeria’s maritime and coastal shipping landscape. At the Council’s Lagos headquarters on Friday, June 26, NSC Chief Akutah Pius Ukeyima, Esq, MON, FCILT, Ph.D finalized the partnership during a high-profile meeting with a NEXIM Bank delegation supported by the European Union and the Port of Antwerp-Bruges. Led by Mr.…
US Launches Retaliatory Strikes on Iran Following Cargo Ship Attack
Tensions flare in the Middle East as the US military strikes Iranian targets following a cargo ship attack in the Strait of Hormuz. According to a Saturday report by BBC News, President Donald Trump ordered the retaliation after branding the maritime assault a “foolish violation” of the truce. According to the reports, US Central Command confirmed Friday’s strikes targeted missile and drone storage facilities, as well as coastal radar positions. It said the strikes were in response for a drone attack on a cargo ship on Thursday, an incident which…
Lafarge Unveils New Corporate Identity, Changes Name to HBM Nigeria Plc
By: Bashir Hassan Abubakar A new chapter has begun for Lafarge Africa Plc, as the company officially unveiled its new corporate identity and name: HBM Nigeria Plc. The transition marks a significant milestone in the company’s transformation journey and strategic alignment with its new shareholder structure. The change to HBM Nigeria Plc reflects the company’s continued evolution as one of Nigeria’s leading building solutions providers, combining strong local roots with enhanced global industrial collaboration. The company reaffirmed that the name change will not affect its operations, workforce, customers, shareholders, or…
Bumper Crop: Saudi Kingdom Kicks Off Early Date Harvest
The National Center for Palms and Dates in Riyadh launched its early harvest campaign on Saturday, June 20, marking the arrival of Saudi Arabia’s first fresh date crop of the season. Highlighting the seasonal calendar for early and mid-season dates, this new initiative is set to supercharge the agricultural sector. Arab News reports that the campaign will drive local marketing, unlock higher economic value, and fuel national economic growth. Driven by a booming demand for local dates, the initiative seamlessly links markets with premium early-season varieties. By integrating agricultural tourism,…