Maritime
China Exports Rise More Than Estimated After September Drop
BEIJING – China’s exports rebounded by more than estimated last month and the trade surplus widened to the biggest this year, helping sustain an economic recovery as leaders gather to map out a blueprint for growth.
Overseas shipments increased 5.6 percent in October from a year earlier, the General Administration of Customs said today in Beijing, compared with a median estimate for 1.7 percent growth in a Bloomberg News survey and September’s unexpected decline of 0.3 percent. Imports rose 7.6 percent, leaving a trade surplus of $31.1 billion, the biggest this year.
Stronger global demand suggested in today’s report may bolster confidence that Premier Li Keqiang will meet this year’s 7.5 percent growth target and ease pressure on the government to spur domestic consumption and investment. President Xi Jinping, who will lead a four-day summit starting tomorrow to decide on reform measures, said growth must avoid straining resources, capital and markets, the Xinhua News Agency reported on Nov. 5.
“China’s export numbers suggest some — although not yet decisive — improvement in global demand momentum,” Louis Kuijs, chief
China economist at Royal Bank of Scotland Group Plc in Hong Kong, said in a note. Import figures reflect “healthy expansion of demand” within China, he said.
The export growth figures understate the true picture by about 2 percentage points because of inflated data from over-invoicing in the second half of 2012 and first half of 2013, Kuijs said. Regulators in May cracked down on fabricated paperwork for outbound shipments used to disguise capital inflows.
Stocks Fall
The benchmark Shanghai Composite Index fell 1.1 percent at the close, capping a weekly loss for the gauge, with technology and agriculture shares sliding.
Estimates from 44 analysts on exports ranged from a 2.2 percent decline to 8 percent expansion. Imports (CNFRIMPY) were projected to grow 7.4 percent, the same as September’s pace, and the median estimate was for a trade surplus of $24.8 billion.
Premier Li said last month that China can’t neglect the importance of exports, which support 30 million jobs directly.
“If exports drop quickly, there will be employment problems,” Li said, according to a transcript of an October speech published this week.
October’s trade surplus takes the total for this year to $200.5 billion, the biggest 10-month total since 2008 and compared with $230.7 billion for the whole of 2012.
Yuan Pressure
The increase in the surplus suggests that pressure will build for the yuan to appreciate, Liu Li-Gang, chief Greater China economist at Australia & New Zealand Banking Group Ltd. (ANZ) in Hong Kong, said in a note today.
The currency has appreciated about 2.3 percent against the dollar this year, the most among 11 major Asian currencies tracked by Bloomberg. It weakened 0.04 percent to 6.0930 per dollar today.
Premier Li’s comments about the importance of exports suggest “the Chinese authorities are concerned about declining trade competitiveness” due to the strengthening yuan and rising costs, Liu wrote.
Exports to the U.S., China’s largest market, rose 8.1 percent in October from a year earlier, today’s data showed, the biggest jump since February. Figures from the U.S. yesterday showed fewer Americans filed applications for unemployment benefits last week, the economy expanded in the third quarter at a faster pace than forecast and consumer credit rose more than projected.
Car Exports
China’s sales to the European Union, its second biggest market, jumped 12.7 percent last month, the biggest gain since February, customs data showed.
Geely Automobile Holdings Ltd. (175), the publicly traded unit of China’s largest closely held carmaker, said this week that the volume of its exports in October rose 17 percent from a year earlier.
October’s export growth wasn’t “a terribly strong number” because the three-month average still showed a relatively stable export sector, said Zhang Zhiwei, chief China economist at Nomura Holdings Inc. in Hong Kong.
“It doesn’t really change our cautious economic outlook for next year,” including a forecast for the economy to expand less than 7 percent, Zhang said today on Bloomberg Television. That compares with the 7.4 percent median estimate for next year and 7.6 percent for 2013, according to Bloomberg News surveys of analysts last month.
General Trade
Imports for general trade, which refers to goods used in China’s own economy rather than for re-export, rose 18.5 percent in October from a year earlier, today’s data showed. That’s the biggest increase in at least 18 months.
The National Bureau of Statistics will tomorrow publish October data on inflation and industrial output and January-October fixed-asset investment. The central bank is scheduled to release money supply and lending numbers by Nov. 15.
Data earlier this month showed China’s official manufacturing Purchasing Managers’ Index (SHCOMP) rose more than estimated in October to an 18-month high and a measure from HSBC Holdings Plc and Markit Economics topped projections.
– BLOOMBERG
Maritime
Maritime Security: NIMASA, Nigerian Navy Renew Collaboration MoU
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.
Maritime
Nigeria, Liberia Strengthen Regional Maritime Cooperation
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.
Business
Sahara Group expands fleet with new 40,000 cbm LPG Carrier
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.
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.






