Efficient Data Governance & Privacy measures enhance operations in ANY industry. With this in min... more Efficient Data Governance & Privacy measures enhance operations in ANY industry. With this in mind, what data protection measures can a Cargo Ship owning company for instance put in place and how can these in turn, enhance its operations? (Noting that vessels are becoming increasingly automated and as such, vulnerable to ever changing risks).
Less than 48 hours ago, Nigeria’s apex bank announced the selection of Bitt Inc. a Barbadian fint... more Less than 48 hours ago, Nigeria’s apex bank announced the selection of Bitt Inc. a Barbadian fintech company as its technical partner for the development of the country’s digital currency, the e-Naira...
The maritime industry is experiencing rapid technological development, and this has brought with ... more The maritime industry is experiencing rapid technological development, and this has brought with it, even newer risks than will ordinarily be expected. These new risks mean that vessel owners and operators are exposed to threats that may not be covered in the conventional insurance policy.
A contract of Marine Insurance is one of indemnities. the Insurer agrees to indemnify the insured... more A contract of Marine Insurance is one of indemnities. the Insurer agrees to indemnify the insured to an extent, in a manner agreed by both himself and the assured and also, against perils agreed by both himself and the assured. In other words, in exchange for premium, the insurer acts as some form of financial shock absorber for the assured where the assured suffers loss arising from perils for which the insurer has provided cover for. Now where a person causes loss or damage to another person, it is generally a requirement of law that the guilty party redresses the wrong and, in many cases, the law will allow the guilty party to limit his liability .i.e. have his liability capped at an amount specified by law. This concept of limitation is not a new one and has become accepted as one of the bases on which many maritime transactions are conducted
On Friday 25th January 2019, President Muhammadu Buhari, purportedly acting on an order of the Co... more On Friday 25th January 2019, President Muhammadu Buhari, purportedly acting on an order of the Code of Conduct Tribunal suspended the Chief Justice of Nigeria, Justice Walter Onnoghen. The sudden suspension of the CJN raised concerns all over the country as well as on the international scene with many citing the timing and manner as unconstitutional and also as an attempt to secure victory in the February 2019 General Elections. Justice Onnoghen’s suspension is indeed an interesting one for many reasons such as the unavailability of such a process in the Constitution of the Federal Republic of Nigeria 1999 (as amended) (CFRN).
For those in the business of shipping, delays can be costly. It is common practice for shipowners... more For those in the business of shipping, delays can be costly. It is common practice for shipowners to charter vessels in return for freight. When calculating freight, shipowners take into consideration the period of the charter. Therefore, where a shipowner has calculated freight based on the time for which the vessel will be in the charterer's possession and the charterer is then delayed, the owner will lose profit. However, the law provides the shipowner with a possible remedy.
The National Assembly enacted the Coastal and Inland Shipping (Cabotage) Act in 2003 to enhance
i... more The National Assembly enacted the Coastal and Inland Shipping (Cabotage) Act in 2003 to enhance indigenous participation in the maritime sector. The act focuses on the development of tonnage and the establishment of a financing fund to bankroll domestic vessel acquisition. With a coastline measuring over 800 kilometres and a wealth of natural resources – including hydrocarbon deposits, zinc, ore, iron and billions of crude oil reserves – Nigeria has numerous global trade opportunities. The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage Act has a fundamental role in the advancement of the country's economy and trade relations.
With a coastline measuring over 800 kilometers and a wealth of natural resources – including hydr... more With a coastline measuring over 800 kilometers and a wealth of natural resources – including hydrocarbon deposits, zinc, ore, iron and billions of crude oil reserves, Nigeria has numerous global trade opportunities. The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage act has a fundamental role in the advancement of the country's economy and trade relations.
The passage of a nuclear propelled vessel through the maritime zones of a coastal state and the e... more The passage of a nuclear propelled vessel through the maritime zones of a coastal state and the entry of such vessels into its port bring about environmental and security concerns within the coastal state. As prospective investment in the vessels in this scenario is to be done by a company, it implies that these vessels will be for commercial purposes. Before providing advise on the liability and requirement of vessels using nuclear propulsion, it should be mentioned that while coastal states are expected to argue the precedence of their duty to protect the marine environment, this contention can be opposed by the notion that the need to protect commercial efficacy should be ensured; in other words, international instruments to regulate the operation of such vessels must be equitable and not favour coastal states over the operation of these vessels or vice versa.
Efficient Data Governance & Privacy measures enhance operations in ANY industry. With this in min... more Efficient Data Governance & Privacy measures enhance operations in ANY industry. With this in mind, what data protection measures can a Cargo Ship owning company for instance put in place and how can these in turn, enhance its operations? (Noting that vessels are becoming increasingly automated and as such, vulnerable to ever changing risks).
Less than 48 hours ago, Nigeria’s apex bank announced the selection of Bitt Inc. a Barbadian fint... more Less than 48 hours ago, Nigeria’s apex bank announced the selection of Bitt Inc. a Barbadian fintech company as its technical partner for the development of the country’s digital currency, the e-Naira...
The maritime industry is experiencing rapid technological development, and this has brought with ... more The maritime industry is experiencing rapid technological development, and this has brought with it, even newer risks than will ordinarily be expected. These new risks mean that vessel owners and operators are exposed to threats that may not be covered in the conventional insurance policy.
A contract of Marine Insurance is one of indemnities. the Insurer agrees to indemnify the insured... more A contract of Marine Insurance is one of indemnities. the Insurer agrees to indemnify the insured to an extent, in a manner agreed by both himself and the assured and also, against perils agreed by both himself and the assured. In other words, in exchange for premium, the insurer acts as some form of financial shock absorber for the assured where the assured suffers loss arising from perils for which the insurer has provided cover for. Now where a person causes loss or damage to another person, it is generally a requirement of law that the guilty party redresses the wrong and, in many cases, the law will allow the guilty party to limit his liability .i.e. have his liability capped at an amount specified by law. This concept of limitation is not a new one and has become accepted as one of the bases on which many maritime transactions are conducted
On Friday 25th January 2019, President Muhammadu Buhari, purportedly acting on an order of the Co... more On Friday 25th January 2019, President Muhammadu Buhari, purportedly acting on an order of the Code of Conduct Tribunal suspended the Chief Justice of Nigeria, Justice Walter Onnoghen. The sudden suspension of the CJN raised concerns all over the country as well as on the international scene with many citing the timing and manner as unconstitutional and also as an attempt to secure victory in the February 2019 General Elections. Justice Onnoghen’s suspension is indeed an interesting one for many reasons such as the unavailability of such a process in the Constitution of the Federal Republic of Nigeria 1999 (as amended) (CFRN).
For those in the business of shipping, delays can be costly. It is common practice for shipowners... more For those in the business of shipping, delays can be costly. It is common practice for shipowners to charter vessels in return for freight. When calculating freight, shipowners take into consideration the period of the charter. Therefore, where a shipowner has calculated freight based on the time for which the vessel will be in the charterer's possession and the charterer is then delayed, the owner will lose profit. However, the law provides the shipowner with a possible remedy.
The National Assembly enacted the Coastal and Inland Shipping (Cabotage) Act in 2003 to enhance
i... more The National Assembly enacted the Coastal and Inland Shipping (Cabotage) Act in 2003 to enhance indigenous participation in the maritime sector. The act focuses on the development of tonnage and the establishment of a financing fund to bankroll domestic vessel acquisition. With a coastline measuring over 800 kilometres and a wealth of natural resources – including hydrocarbon deposits, zinc, ore, iron and billions of crude oil reserves – Nigeria has numerous global trade opportunities. The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage Act has a fundamental role in the advancement of the country's economy and trade relations.
With a coastline measuring over 800 kilometers and a wealth of natural resources – including hydr... more With a coastline measuring over 800 kilometers and a wealth of natural resources – including hydrocarbon deposits, zinc, ore, iron and billions of crude oil reserves, Nigeria has numerous global trade opportunities. The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage act has a fundamental role in the advancement of the country's economy and trade relations.
The passage of a nuclear propelled vessel through the maritime zones of a coastal state and the e... more The passage of a nuclear propelled vessel through the maritime zones of a coastal state and the entry of such vessels into its port bring about environmental and security concerns within the coastal state. As prospective investment in the vessels in this scenario is to be done by a company, it implies that these vessels will be for commercial purposes. Before providing advise on the liability and requirement of vessels using nuclear propulsion, it should be mentioned that while coastal states are expected to argue the precedence of their duty to protect the marine environment, this contention can be opposed by the notion that the need to protect commercial efficacy should be ensured; in other words, international instruments to regulate the operation of such vessels must be equitable and not favour coastal states over the operation of these vessels or vice versa.
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Now where a person causes loss or damage to another person, it is generally a requirement of law that the guilty party redresses the wrong and, in many cases, the law will allow the guilty party to limit his liability .i.e. have his liability capped at an amount specified by law. This concept of limitation is not a new one and has become accepted as one of the bases on which many maritime transactions are conducted
return for freight. When calculating freight, shipowners take into consideration the period of the charter. Therefore,
where a shipowner has calculated freight based on the time for which the vessel will be in the charterer's possession
and the charterer is then delayed, the owner will lose profit. However, the law provides the shipowner with a possible
remedy.
indigenous participation in the maritime sector. The act focuses on the development of tonnage
and the establishment of a financing fund to bankroll domestic vessel acquisition. With a coastline
measuring over 800 kilometres and a wealth of natural resources – including hydrocarbon deposits,
zinc, ore, iron and billions of crude oil reserves – Nigeria has numerous global trade opportunities.
The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage Act has a fundamental role in the advancement of the country's economy and trade
relations.
The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the
Cabotage act has a fundamental role in the advancement of the country's economy and trade
relations.
Now where a person causes loss or damage to another person, it is generally a requirement of law that the guilty party redresses the wrong and, in many cases, the law will allow the guilty party to limit his liability .i.e. have his liability capped at an amount specified by law. This concept of limitation is not a new one and has become accepted as one of the bases on which many maritime transactions are conducted
return for freight. When calculating freight, shipowners take into consideration the period of the charter. Therefore,
where a shipowner has calculated freight based on the time for which the vessel will be in the charterer's possession
and the charterer is then delayed, the owner will lose profit. However, the law provides the shipowner with a possible
remedy.
indigenous participation in the maritime sector. The act focuses on the development of tonnage
and the establishment of a financing fund to bankroll domestic vessel acquisition. With a coastline
measuring over 800 kilometres and a wealth of natural resources – including hydrocarbon deposits,
zinc, ore, iron and billions of crude oil reserves – Nigeria has numerous global trade opportunities.
The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the Cabotage Act has a fundamental role in the advancement of the country's economy and trade
relations.
The export of its hydrocarbon deposits is beneficial to Nigeria's economy and, in light of this, the
Cabotage act has a fundamental role in the advancement of the country's economy and trade
relations.