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Exported cargo has been trapped on barges along Lagos waterways after port concessionaire ENL Consortium halted barge operations at its facilities. Freight forwarders report that cargo is spending longer in port corridors and that shippers are facing losses.
The disruption is tied to congestion at the Apapa port.
Port congestion and delayed exports in Nigeria have limited effect on global feed grain prices. The effect is confined to local import and export flows.
thenicheng.comJul 27, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
