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Firm Promises 70% Freight Savings to Business Owners

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Business owner

Simplified Corporate Logistics, a global procurement, handling, clearing and forwarding service targeted at Nigerian businesses has recently launched and revealed its promise to help business owners.

The procurement company disclosed in a statement, its plans to help Nigerian business owners who are currently facing difficulty ordering goods from overseas due to high costs of clearing and logistics, reduce their incurred fines and charges, improve their cargo logistics efficiency and shrink their freight costs up to 70%.

The statement reads in part: “Offering a full service cargo logistics package for export and import, including global procurement, warehousing locally and internationally, clearing, documentation review to ensure Customs and regulatory compliance, Simplified Corporate Logistics takes risk away completely from businesses complexity associated with import and export – by handling their forex needs to reduce the long processing times needed to access forex, providing a transparent Customs Clearing typically within 6 days while handling documentation for efficiency and offering a cargo consolidation service that will save businesses up to 70% on freight costs.

“Speaking at the launch of Simplified Corporate Logistics, in Lagos, founder and Chief Eecutive Officer (C.E.O) Nduka Udeh remarked: “Nigerian businesses of recent have been hit by a steep hike in the price of ordering, handling and clearing goods from overseas. What Simplified Corporate Logistics does is that; it removes the risk factor for businesses.

“We make it our responsibility to source for Forex to carry out transactions so our customers only pay in Naira. Then we guide them through the entire clearing process and handle the documentation on their behalf so that they reduce incurred fines and charges to the barest minimum. Our process is so efficient that we can guarantee clearance of goods within six days.

“We can even source for the items our customers want from trusted manufacturers globally, and get them at the best prices – thanks to our partnership with several auction companies in the USA. Most significantly, we offer a cargo consolidation service that can save our customers up to 70% in freight costs. We believe that it is these cost and efficiency savings that will propel the Nigerian small and medium enterprises into the future.”

The company added that details on the launched Simplified Corporate Logistics, could be found on its website www.sclogisticsng.com

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Markets

Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd

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The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.

The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.

The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.

The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.

Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.

The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.

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Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins

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Oil Prices Recover from 4 Percent Decline as Joe Biden Wins

Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.

This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.

Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.

On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.

Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.

“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”

The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.

There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.

“Either you’re crimping energy demand or consumption behavior.”

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Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020

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Revenue of OPEC Members to Drop to 18 Year Low in 2020

The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.

EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.

If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.

The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.

It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.

It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.

“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”

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