By Godwin Oritse
The management of the NLNG Ship Management Limited, NSML, the shipping arm of the Nigerian Liquefied Natural Gas, NLNG, has given reason for putting its vessels in the Bermudian Ship Registry instead of the Nigerian Ship Registry.
Ahmed said that none of the NLNG-NSML vessels is Nigerian flagged as the acquisition of the vessels were through international funding adding that there were also conditions tied to funding these acquisitions.
NSML boss explained that the flagging or registration of vessels in Nigeria is the desire of the shipping firm but the regulation and other factors to make that work in Nigeria must be in place such that it also must be internationally accepted.
According to him, the financiers insisted the vessels must be flagged in an internationally accepted Ship Registry recognized by Lloyds listed flag state.
He stated: ‘‘There is a reason for not having these vessels registered in Nigeria and that is because the financials of these…
Source: Vanguard Newspaper
