Dry Cargo

Nigeria’s BUA Foods becomes a shipowner

BUA Foods, one of Africa’s leading fast-moving consumer goods companies, has taken delivery of the first of two bulk carriers to augment its sugar export operations to the West African market. The vessels will depart and berth at BUA’s own terminal at Port Harcourt.

The first ship to enter the fleet has been named Bundu after the area in which the company’s sugar refinery is located. The 2003-built geared ship is 16,765 dwt in size.

“As we drive our business for growth with focus on sustainable returns, and benefit to all our stakeholders and the Nigerian economy, owning a shipping vessel is an important step in BUA Foods strategy,” said the chairman of BUA Foods, Abdul Samad Rabiu. “We see an increased and continued demand for refined sugar across the region with attendant increase for logistics support to aid timely delivery, which is why it is important for us to strengthen our current capability with an own-controlled asset as we advance further in our business strategy. These new vessels will create operational efficiencies in our business and open possibilities for new services.”

A second vessel is expected to arrive next month to promote cross-border trade to businesses across the West African region and other African countries.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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