This is because the country lacks a robust commercial shipping fleet, a Government official has said. Maritime and Shipping Affairs Principal Secretary Nancy Karigithu said the costs could have been avoided had the country invested in its own shipping fleet. “Our blue economy is in tatters because we lack investors who could help develop a shipping line for commercial services. On top of the transport costs, Karigithu explained, the country last year suffered $22.6 million (Sh2.3 billion) in demurrage costs on oil imports. Ethiopia Shipping Line (ESL), for instance, is earning the country $40 million (Sh4 billion) annually from its fleet of 18 commercial ships.

Source: Standard Digital March 21, 2017 18:56 UTC