A former President of the African Shipowners Association, Captain Ladi Olubowale
A former President of the African Shipowners Association, Captain Ladi Olubowale, has stated that the success of the Cabotage Vessels Financing Funds should not be measured simply by the amount available to individual shipowners, but by how effectively the funds are linked to actual trade opportunities.
The foremost shipowner added that a $25m facility under the CVFF could be sufficient to acquire a sizable vessel if the financing is tied to identifiable cargo and long-term trade contracts.
Olubowale disclosed this in Apapa on Tuesday during a roundtable meeting with members of the Maritime Reporters Association of Nigeria.
A document sighted by The PUNCH indicated.
