The Marine Equipment Owners and Leasing Association of Nigeria (MEOLAN) have shed light on the hike in prices for tugboats and barges services, saying it became necessary due to high inflation in the country.
In a communique issued after it’s general meeting in Port Harcourt Tuesday, February 27, 2024, the group outlined the driving factors behind this significant shift.
The communique which was signed by MEOLAN’s President, Chief Hope Ingo Kuku, emphasized its unique position as the only sector that has not raised prices in the past decade…
The equipment owners lamented that a 300% increase in new equipment costs and soaring maintenance expenses, coupled with the need for continuous innovation to meet evolving safety standards, have placed immense pressure on equipment owners.
At the meeting which was attended by 22 members, the group resolved that daily rate for a double screw pusher tugboat shall be #250k while daily rate for a 700 tons barge and above shall be for a minimum amount of #250,000.
The group however resolved that barges below 700 tons shall be open for negotiation.
“Maintaining the highest quality standards while remaining competitive in a global market has become increasingly challenging,” MEOLAN added.
Despite these hurdles, MEOLAN has reassured stakeholders that the new price regime aims to foster long-term sustainability and resilience within the sector.
They promised improved services and requested understanding from their valued customers, as the new pricing structure went into effect on Friday, March 1, 2024.