Market News

By Anozie Egole

APM Terminal, Apapa said it received the largest container vessel ever to visit Nigeria’s Lagos Port Complex Apapa with a capacity of 7,000 twenty-foot equivalent units.

Announcing this in a statement on Thursday, the terminal operator stated that the event marked the first time a Nigerian port will welcome the vessel, ‘EA Centaurus’ adding that the move has set a new milestone for Nigeria’s premier port.

It explained that the vessel which is owned by COSCO Shipping and currently flies the Singaporean flag is measuring 272 metres in length, 43 meters in width, and with a 14.3-meter draft, boasts a capacity of 7,000 twenty-foot equivalent units.

Commenting on the historic berthing, the Terminal Manager, APM Terminals Apapa, Steen Knudsen, emphasised the economic implications of welcoming such a large vessel.

Knudsen explained that the arrival of the vessel represents a turning point in the size and scale of vessels that Apapa can handle.

“Larger ships mean more efficient economies of scale, which can ultimately lower the cost of imports to Nigeria. This milestone is a testament to Nigeria’s increasing trade capacity and APMT’s commitment to supporting this growth,” Knudsen said.

Knudsen highlighted the operational advantages for both the port and its customers, adding that by consolidating more cargo in a single vessel, the terminal is enhancing efficiency and lowering freight rates for importers.

“This is a direct benefit to Nigeria’s economy, as it reduces import costs and encourages more robust trade activity,” he said.

The Chief Commercial Officer of APM Terminals Nigeria, Caroline Aubert-Adewuyi, expressed confidence in the partnership between APMT and COSCO Shipping, calling it an important step forward for Nigeria’s trade infrastructure.

Aubert-Adewuyi stated that the vessel, with its 7,000 TEUs capacity, marks a new level of cooperation between APMT and COSCO, as well as Nigeria’s commitment to improving its import and export capabilities.

“We are looking forward to the positive impact on growth, not only for the country’s economy but also for our customers and trade partners,” Aubert-Adewuyi said.

The Managing Director of COSCO Shipping Lines Nigeria, Rex Wang, while speaking on the strategic importance of the arrival of EA Centaurus, maintained that the event was a landmark event for COSCO, as it is the largest vessel the shipping company has handled in this region, underscoring the expansion of their services in West Africa.

He expressed confidence in the region’s resilience and potential for growth, “our expanded capacity in West Africa will bolster our market presence, and we are optimistic about an economic rebound, supported by an increase in exports like minerals, sesame seeds, and cashews. We believe in the continued recovery and growth of West African trade.”

Meanwhile, the Customs Area Controller, Apapa Command, Babatunde Olomu, pledged the service’s support in facilitating swift cargo processing.

“This achievement highlights our commitment to ensuring the rapid and efficient handling of larger shipments. We are dedicated to trade facilitation, which not only boosts revenue but also encourages more vessels of this scale to berth at our ports,” Olomu stated.

COSCO Shipping, headquartered in China, is one of the world’s largest shipping companies and a prominent player in international logistics. Its fleet spans hundreds of vessels, reaching nearly every major port across the globe.

The arrival of EA Centaurus at Apapa is part of COSCO’s broader commitment to strengthening trade connections between Asia, Africa, and other global markets, reflecting the company’s dedication to expanding West Africa’s shipping capacity.