Tug boats hauled the burnt-out hulk of the ferry that caught fire on Sunday off the coast of Greece to a southern Italian port yesterday, opening the way for an investigation into the cause of the blaze that killed at least 11 people. Listing visibly to starboard, the Norman Atlantic multi-deck car-and-truck ferry was held… Read More »

Nigeria’s crude oil export to Europe and Asia, two of the country’s key markets, declined by 6.6 million barrels in September, further reducing the country’s oil revenue at a time the plunge in global oil prices entered its third month. The fall in oil prices, which began in June 2014 when prices peaked at $115… Read More »

Nicaragua on Monday broke ground on its Chinese-led $50 billion shipping canal, a massive infrastructure project that aims to rival Panama’s waterway and revitalize the economy of the second-poorest country in the Americas. Nicaragua’s government says the proposed 172-mile (278-km) canal, due to be operational by around 2020, would raise annual growth to over 10… Read More »

The nation anxiously awaits the possible release of over 200 Chibok girls today. The girls were abducted by Boko Haram sect on April 14 this year. Two weeks ago, the Chief of Defence Staff, Air Marshall Alex Badeh announced that the sect had agreed to a ceasefire following an agreement reached by both the government… Read More »

Foreigners have reduced their investments in the Nigerian Stock Exchange due to concern about insecurity and fears regarding the outcome of 2015 elections. The latest investment details from the NSE showed that foreign investments dropped significantly by N73.4 billion at the end of October. As of September this year, the total investments by foreign investors… Read More »

The U.S. President Barack Obama signed into law on December 19 the Howard Coble Coast Guard and Maritime Transportation Act of 2014. Earlier this month, this bipartisan legislation passed both U.S. Chambers of Congress by unanimous consent. The law reauthorizes funding for the United States Coast Guard and Coast Guard Reserve, and the Federal Maritime… Read More »

Secretary-General of the International Maritime Organisation (IMO), Koji Sekimizu yesterday met with the chairman of the International Chamber of Shipping (ICS), Mr. Masamichi Morooka, to discuss the ICS’ position on the ratification of the 2004 BWM Convention. For the past two years, ICS and its member national associations have strongly discouraged additional governments from ratifying the… Read More »

The Nigerian army said yesterday that it had recaptured the north-eastern town of Chibok, where Boko Haram insurgents abducted more than 200 schoolgirls in April, provoking a wave of global outrage. An elder of Chibok community, Pogu Bitrus however told AFP that Chibok was recaptured in a joint operation with local vigilantes known as the… Read More »

The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) said on Sunday the price of oil had fallen further than market fundamentals would have dictated. Speaking at an event in Dubai, Abdullah al-Badri added that the November meeting which ruled out a cut in production by members of the group was not aimed… Read More »

The Nigeria Customs Service, Murtala Muhammed International Airport (MMIA) Command, on Saturday said that its personnel were not involved in the molestation of an official of the Federal Airports Authority of Nigeria (FAAN) on Thursday. An official of FAAN had on Thursday been beaten up over parking fees at the cargo section of the MMIA.… Read More »