*Nigeria's Shipping Sector Seeks Relief from Container Deposit Delays*

By Lod Onyeji 

The Sea Empowerment and Research Center (SEREC) has sounded the alarm on persistent delays in the refund of container deposits by shipping lines, a issue that has caused significant frustration among shippers and freight forwarders. According to SEREC, the delays stem from shipping lines collecting container deposits but failing to refund them promptly, leading to operational bottlenecks and financial strain on stakeholders.

In response, SEREC has outlined a series of recommendations aimed at addressing this issue and improving container management efficiency within Nigeria's shipping sector. Key proposals include the establishment of clear regulations and guidelines that mandate timely refund of container deposits, coupled with penalties for non-compliance. SEREC also advocates for industry-wide standards to standardize deposit refund processes, including the adoption of automated systems to accelerate refunds.

Collaboration between shipping lines, shippers, and freight forwarders is seen as crucial in identifying challenges and co-creating effective refund mechanisms. SEREC emphasizes the importance of transparent communication regarding refund timelines and the implementation of tracking systems to monitor refund statuses.

To alleviate the burden on shippers and freight forwarders, SEREC suggests exploring alternative deposit schemes, such as insurance covers or collective funds managed by industry stakeholders. By adopting these measures, SEREC believes that congestion at ports can be reduced, operational efficiency enhanced, and overall container management improved.

The implementation of these solutions, SEREC argues, will not only benefit the shipping industry but also strengthen Nigeria's position as a competitive maritime hub. As the country seeks to improve its maritime infrastructure and services, addressing the container deposit conundrum is seen as a critical step towards achieving a more sustainable and reliable shipping environment.