Maritime
Australia Exports to China Still Firing
SYDNEY – Australia’s exports of commodities are charging ahead, despite weaker growth in China’s economy.
A slowdown in Chinese growth – to 7.7% in 2013 from double-digits in recent years – has hurt Australia’s economy. The country expanded its mining capacity as Chinese growth rocketed. As China’s expansion slowed, global commodity prices fell and Australia’s economy also began to grow at a slower pace as mining investment crumpled.
The outlook for commodity prices remains weak, in part because of huge new supply coming online in the years ahead from Australia and other producers.
But that doesn’t mean Australian exports to China have fallen. China’s economy is much larger than a few years ago and needs huge new amounts of commodities for its infrastructure projects and to build houses.
On Thursday, Australia posted a A$468 million trade surplus for December, in contrast to the small deficit forecast by economists. That built on a surplus in November of A$83 million dollars, the first trade surplus in two years.
The value of exports rose 4% on-month in December, thanks to solid gains in sales of coal and iron ore, largely to China. Imports rose 2% on-month.With a decade-long boom in mining investment fading, there’s less need to import expensive capital equipment. Imports grew just 6.4% in 2013, versus 15.1% annual growth in exports.
Prices for many commodities remain weak as China’s growth cools and new supply becomes available. But China’s demand for commodities is still increasing, albeit at a slower pace. The country’s iron ore imports hit a record in November, up a fifth from the start of 2013.
And Australian producers also have benefited from a weaker Australian dollar, which has fallen 15% from its peak last year, boosting export values in local currency terms.
Exports to China, Australia’s largest trading partner, totaled a record A$95 billion in 2013, up sharply from A$73 billion in 2012. China took almost 40% of Australia’s goods exports in December, and supplied 18% of its imports. By comparison, the United States took 5% of Australian goods exports and supplied 10% of the country’s imports.
As more Australian mining projects near completion and begin production, the export volumes are likely to rise, analysts say.
“It will be truly staggering just how much income will be generated from our largest trading partner when all the major resource projects are operating at full capacity,” said Craig James, chief economist at Commsec brokerage.
Still, the export surge will only go part of the way to offsetting the mining investment drop in the medium term, economists say. Australia’s economy grew 2.3% on year in the third quarter much lower than quarterly rates as high as 4% in 2012.Resources investment peaked at around 8% of gross domestic product in 2013 and is expected to fall by around 3 percentage points over the next two and a half years, according to forecasts by the Reserve Bank of Australia. The decline will accelerate in 2015 when large gas projects across the country’s north are completed.
Australia’s economy is expected to grow a sub-par 2.75% this year, with unemployment likely to rise as workers who were employed building mining projects in the Outback stream back to the cities. It takes far more workers to build a mine – or an export terminal, say – than to operate it.
Still, the outlook for Australia’s trade accounts is robust.
Michael Blythe, chief economist at the Commonwealth Bank of Australia, predicts that strong mining exports will help Australia make the jump from being a current-account deficit nation to a surplus nation within five years.
That would mark a historic shift, considering that Australia has run current-account deficits in 128 of the past 150 or so years. Australia has had to borrow from the world to meet the gap between its savings rates and its investment needs.
That’s changing and implies a stronger Australian dollar and lower borrowing costs in the future.
“A sharp rise in resource export volumes and a marked reduction in resource-related capital goods imports as the mining construction boom winds down will drive the move into trade surplus,” Mr. Blythe said.
– WALLSTREET JOURNAL
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy have renewed their strategic partnership with the endorsement of a Memorandum of Understanding (MoU) to strengthen maritime security, enhance safety and deepen coordinated enforcement across Nigeria’s maritime domain.
The MoU was signed at the Nigerian Navy Headquarters, Abuja, by the Director General of NIMASA, Dr Dayo Mobereola, and the Chief of the Naval Staff, Vice Admiral Idi Abbas.
The renewed agreement marks a significant milestone in the longstanding relationship between both institutions and represents the first formal renewal of their partnership since the original MoU was signed in 2007.
The agreement provides a framework for enhanced collaboration in the promotion and maintenance of maritime security and the effective implementation of the Suppression of Piracy and Other Maritime Offences (SPOMO) Act, the International Ship and Port Facility Security (ISPS) Code and other relevant maritime laws and regulations within NIMASA’s mandate.
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Speaking at the signing ceremony, the NIMASA Director General, Dr Dayo Mobereola, commended the commitment of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, to strengthening inter-agency collaboration as a key driver of maritime security and the development of Nigeria’s Blue Economy.
He said the renewed MoU would provide a stronger institutional framework for both organisations to discharge their respective statutory mandates while consolidating the gains already recorded in securing Nigeria’s maritime domain. This he said will enhance achieving the goals of President Bola Tinubu GCFR for the Blue Economy.
According to him, the agreement is also designed to address emerging maritime security challenges through improved coordination, information sharing and operational cooperation.
“As we renew this partnership today, I urge our respective teams to ensure that the spirit of this agreement translates into practical and measurable outcomes,” Dr Mobereola said.
Dr Mobereola also expressed appreciation to the Chief of the Naval Staff and the Nigerian Navy for their continued support and commitment to the renewal of the partnership.
In his remarks, the Chief of the Naval Staff, Vice Admiral Idi Abbas, described the signing as a milestone in the enduring relationship between the Nigerian Navy and NIMASA.
He noted that the renewed MoU contained important additions aimed at strengthening the response to the evolving nature of maritime security challenges.
One of the key provisions, he said, is the integration of the Deep Blue Project into the collaborative framework, providing a stronger basis for cooperation between the Nigerian Navy’s Maritime Guard Command and the project.
He also highlighted the introduction of a joint reporting protocol for communication and information sharing during operations, which he said would facilitate timely decision-making and a more coordinated response to maritime incidents.
Vice Admiral Abbas further welcomed provisions for greater institutional engagement, including an annual conference to enhance collaboration, review progress and address emerging challenges.
“Whether we like it or not, the water is where we get whatever we are getting—our revenue, everything and even the trade we engage in, in large percentages, is done through the water. So this institution has to be very strong,” he said.
The renewed MoU is expected to deepen operational cooperation between NIMASA and the Nigerian Navy, particularly in maritime security, information sharing, coordinated responses to maritime incidents, enforcement of applicable maritime laws amongst others.
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has reaffirmed the Agency’s commitment to advancing regional maritime integration, cooperation and capacity development across Africa.
Mobereola made this known when he received the Honorary Consul of the Republic of Liberia in Lagos, Dapo Akinosun, at the Agency’s headquarters in Lagos.
The NIMASA DG described the meeting as a reflection of the longstanding and mutually beneficial relationship between Nigeria and Liberia, particularly within the maritime sector.
According to him, stronger collaboration among African nations remains critical to unlocking the continent’s maritime potential, strengthening the Blue Economy, and promoting sustainable regional growth of the continent.
On the significance of maritime cooperation, Mobereola said: “The time has come for African nations to upscale maritime collaboration. The partnership between Nigeria and Liberia will help us build capacity, strengthen regional cooperation, and create opportunities for African youths within the global maritime industry.
“We must collectively build maritime capacity beyond borders. Sea-time training and practical exposure will position Nigerian and African youths to compete effectively in the international maritime space.”
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He also appreciated the Liberian Government for supporting Nigeria’s successful bid for the Category C seat of the International Maritime Organization (IMO), noting that both countries have sustained productive maritime relations over the years.
In his address, Akinosun stated that the visit was aimed at reinforcing the enduring relationship between Nigeria and Liberia while promoting stronger maritime cooperation between both countries.
The Envoy described the maritime sector as a key driver of economic growth, regional integration, and Blue Economy development, while commending the management of NIMASA for efforts towards repositioning Nigeria’s maritime industry for sustainable growth and investment.
“Nigeria has demonstrated genuine commitment to maritime partnership and regional growth. Liberia looks forward to deeper collaboration with NIMASA in maritime administration, safety, capacity development, and trade promotion for the advancement of Africa’s Blue Economy,” Akinosun said.
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Ghanaian President Mahama and Sahara Executive Directors
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.
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