Introduction
Nigeria’s economy depends heavily on shipping and maritime transport. From oil and gas exports to bulk cargo imports, vessels remain the backbone of trade and offshore operations. But not every company owns a ship — that’s where vessel chartering in Nigeria becomes essential.
If you’re a shipper, oil company, or logistics firm looking to move cargo efficiently, chartering a vessel may be the best solution. This guide explains everything you need to know about chartering a vessel in Nigeria: the types of charter agreements, cost factors, legal requirements, and how to secure the right vessel for your business.
Types of Vessel Chartering in Nigeria
There are different ways to charter a vessel depending on your needs:
1. Time Charter
You hire the vessel for a specific period (e.g., 6 months or 1 year).
The charterer decides where the vessel goes, but the shipowner handles crew, maintenance, and operations.
2. Voyage Charter
The ship is hired for a single voyage from one port to another.
Suitable for importers/exporters who need cargo moved once, not continuously.
3. Bareboat Charter
The vessel is leased without crew, insurance, or fuel.
The charterer takes full control and responsibility.
Common in oil and offshore projects where companies already have crew and technical expertise.
4. Spot Charter
Short-term, urgent hire.
Useful for last-minute cargo, emergency supply delivery, or offshore contracts.
Legal and Regulatory Requirements
Before chartering a vessel in Nigeria, you must ensure compliance with Nigerian maritime laws:
NIMASA Registration – All vessels operating in Nigerian waters must be registered with the Nigerian Maritime Administration and Safety Agency.
Cabotage Compliance – The Cabotage Act regulates the use of foreign vessels in Nigerian waters. Local vessels are often preferred.
Insurance & Safety Certificates – Chartering requires valid insurance (hull, cargo, and crew) plus safety certifications.
Charter Party Agreement – A formal contract outlining terms, costs, responsibilities, and liabilities.
Cost of Vessel Chartering in Nigeria
The cost of chartering depends on several factors:
1. Type of Vessel
Tankers, cargo ships, supply vessels, tugboats, and barges all have different rates.
2. Duration
Short-term voyages cost less per trip but more per day compared to long-term charters.
3. Distance & Cargo
Longer voyages and heavy cargo increase cost.
4. Market Conditions
Oil prices, global shipping demand, and fuel costs affect charter rates.
👉 On average, vessel chartering in Nigeria can range from $5,000 to over $50,000 per day, depending on vessel type and duration. Offshore support vessels (OSVs) often cost more due to technical requirements.
How to Choose the Right Vessel for Your Cargo
When chartering a vessel, you should:
Match cargo to ship type – Tankers for petroleum, container ships for imports, barges for inland cargo, OSVs for offshore rigs.
Check vessel capacity – Ensure it can handle cargo volume and weight.
Consider port restrictions – Some Nigerian ports have draft limits that affect vessel selection.
Verify certifications – Safety, insurance, and compliance documents must be valid.
Benefits of Chartering Through a Licensed Marine Company
Using a trusted company like Oitha Marine provides major advantages:
Access to a fleet of vessels suitable for oil, gas, and cargo.
Assistance with NIMASA compliance, documentation, and insurance.
Experienced crew and technical support.
Flexible charter agreements tailored to business needs.
How to Secure a Vessel with Oitha Marine
Chartering through Oitha Marine is simple:
1. Submit an Inquiry – Share your cargo type, voyage route, and duration.
2. Get a Quote – Transparent pricing tailored to your needs.
3. Sign a Charter Party Agreement – Legally binding contract for peace of mind.
4. Vessel Deployment – Your ship is mobilized on schedule.
📞 Contact Oitha Marine today to secure a reliable vessel for your next shipping or offshore operation. www.oithamarine.com
md@oithamarine.com
Recent Comments