TOWERSITE AUTOMATED CONTAINER INDEMNITY
The burden of Container Deposit, return of empty Shipping Container and loss of empty containers rest fully with the Freight-Forwarders and CRFFN.
The Challenge
Shippers and Freight Forwarders have continued to lament over the Billions of Naira being lost/tied-down as a result of Container Deposit Fee paid to the Shipping Companies and the high demurrage costs, adding up to high port charges, which is progressively eroding Shippers/Investors confidence. The Shipping Companies are also losing thousands of Empty Containers to the Value-Chain, due to the growing demand for Empty Shipping Containers by Nigerians for various purposes.
The Need
The challenges of Container Deposit Fee will continue to escalate and so is the need for a more effective solution to halt this unnecessary cash lost/cash tie down. Also, the challenges of loosing Containers to Nigerians for other purposes, other than shipping purposes needs to be checked.
- Policy documents by United Nations Economics & Social Commission for Asia & the Pacific.
Proposed Solutions
The “Clearing House” element of the Project 4.1 will manage all the Laden/Empty Container, with a technological solutions that maps the identity of every party within a Shipping Container value chain, for effective monitoring, tracking and prompt return of Shipping Containers to the Holding-Bay. Project 4.1 Nigeria Ltd. will also provide an Insurance Bond of #20billion to the CRFFN.