The shipping companies play an important role in the process involved in the maritime industry. The shipping company is that body which is responsible for responsible for handling and carriage of goods from the port of loading to the port to the port of discharge. The company can either be the actual owner of the ship or an agent acting on the ships behalf. When goods are sent from the exporter for shipment, the shipping company is under obligation to safely deliver the goods to the Nigerian Port Authority.
The roles of shipping company in the maritime industry cannot be overemphasized. Shipping companies promote international trade between Nigerian and other countries of the world. Its contribution to foreign exchange earning of Nigeria cannot be ignored. It also facilitates the growth of industries in Nigeria and as a result leads to creation of employment opportunities. It ensures that the imported goods are delivered to the rightful owner. It also handles claim arising from shortage, damages etc caused by the vessel.
On the basis of the above facts, this study tends to look at operation in Nigeria and critically evaluate the importance, problems and solution to enhance shipping company in Nigeria.
This research work revealed the following about shipping company in Nigeria.
There is greater government regulation and control of shipping, there is harsh political and economic climate, there is shortage of finance, there is lack of policy frame work and indeed the witness’s slow pace of development among others.
In view of the findings of this research work, the following recommendation was suggested. Government policy on shipping companies should take incentive packages that can enhance efficient performance of shipping industry. The foreign exchange bottleneck should be strictly reduced by granting foreign concession rate for shipping companies. Provision of modern terminal facilities to facilitate increased turn round time of ship for optimal result should be encouraged.
Shipping market is becoming increasingly competitive and if Nigerian shipping companies have to survive in international trade, a conductive social, political and economic climate must be provided.