Connect with us

Economy

WSC: Analysts Warn Of Trade Risks From U.S. Port Fees

Published

on

Customs

WSC: Analysts Warn Of Trade Risks From U.S. Port Fees

WSC: Analysts warn of trade risks from U.S. port fees. Shipbuilding experts said the policy, if implemented, could affect 98 per cent of ships calling at U.S. ports.

Analysts have raised concerns over U.S. President Donald Trump’s proposed $30 billion shipbuilding policy, warning it could pose significant challenges to global trade.

The initiative, aimed to revive America’s declining shipbuilding sector, includes a controversial plan to impose port fees on Chinese ships and non-Chinese operators of Chinese-built vessels.

Speaking during a global trade virtual session on Friday, shipbuilding experts said the policy, if implemented, could affect 98 per cent of ships calling at U.S. ports.

According to the World Shipping Council (WSC), this could lead to container cost increases of $600 to $800 per unit, reducing U.S. competitiveness and transferring the burden of higher port taxes to energy-cargo shippers via charter parties.

Sam Cho, commissioner of the Port of Seattle and a managing member of the Northwest Seaport Alliance, noted that carriers might be forced to consolidate their shipping routes to major ports like Los Angeles and Long Beach.

He warned that the resulting congestion could cause truck driver shortages, overstocked warehouses, and supply chain paralysis.
“For less significant ports and smaller shipping companies, this could mean an existential threat.

“Of the 103 U.S. ports, 95 are small- to medium-sized, handling fewer than one million twenty-foot equivalent units annually,” Mr Cho said.

Bruce Burrows, president and CEO of the U.S. Chamber of Marine Commerce, estimated that smaller vessels had already seen shipping costs increase by 100 to 500 per cent since March 2025.

He added that the chamber projected the potential loss of 26,000 American jobs in industries dependent on affordable shipping and $4 billion in related economic activity.

“The first to bear the brunt, if implemented, would be U.S. ports, which handle about 40 per cent of the country’s goods trade and support more than 21 million jobs.
“To avoid multiple charges, carriers would limit their port calls, concentrating traffic in a few major hubs,” Mr Burrows said.

Joe Kramek, president of the World Shipping Council, warned that the proposed fees could double transportation costs for U.S. exports. He said higher port charges would particularly impact grain shippers, lowering the prices farmers receive.

“If the U.S. plans to replace these vessels with domestically flagged and built ships, the ships simply do not exist—nor does the shipyard capacity to build them,” Mr Kramek added.
Ernie Thrasher, CEO of Xcoal Energy & Resources, noted that bulk shipments already face difficulties securing bookings.

“Agricultural exporters are struggling to secure ships beyond May. Vessel owners are refusing to offer future bookings for U.S. coal shipments due to the proposed fees,” he said.

Daniel Blazer, whose company operates about half of the short sea shipping service between Mexico and the eastern U.S., said two of his three vessels were built in China.

WSC

WSC

“If forced out of operation, we would need an additional 1,000 trucks per week to move goods across the U.S.-Mexico border, worsening congestion, straining highway infrastructure, and increasing security risks,” he explained.

Meanwhile, Guy Platten, secretary-general of the International Chamber of Shipping, said 35 per cent of vessels servicing U.S. maritime trade routes built in China were owned and operated by companies in U.S. trading partner countries.

“Imposing fees on these vessels would not only affect China’s shipbuilding sector but could also seriously disrupt U.S. maritime supply chains,” Mr Platten said.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Published

on

By

Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

Continue Reading

Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

Published

on

By

EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

Continue Reading

Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

Published

on

By

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

Continue Reading

Trending