C&I Leasing commissions first 80-ton bollard vessel to service Shell Nigeria

C&I Leasing Plc, has on Thursday 24th of August 2017, launched its first 80-ton bollard pull AHTS vessel, which will be deployed to execute a five-year contract for Shell Nigeria.

The acquisition of the vessel named, MV Bello 2015, which was built in China, was also funded by the Bank of Industry (BoI) and First City Monument Bank (FCMB), to grow local involvement in Nigeria’s shipping business.

Andrew Otike-Odibi, managing director of C&I Leasing said at the commissioning ceremony in Lagos, that the new 80-ton bollard pull AHTS vessel was the biggest in the company’s fleet.

“This milestone could not have been possible without the support of our financiers, BoI and FCMB including our client- Shell Petroleum Development Company of Nigeria Ltd and our committed C&I Leasing team,” he said.

According to him, the new vessel shows a strong demonstration of the government’s commitment to developing local capacity especially in the oil and gas industry.

“In 26 years, we have grown from a finance lease business to now a logistics support business in Nigeria and Ghana. This has seen us grow our fleet in the marine business to 21 vessels cutting across different oilfield service vessels such as crew boats, patrol boats, tug boats, pilot boats and platform support vessels.

Adamu Nuru, managing director/CEO of FCMB said in his goodwill message that FCMB came onboard to provide financial support for the acquisition of the vessel given the significance of the project.

“C &I Leasing will continue to record giant stride in oil and gas service industry. This is why we have been partnering with the company since early 2001 and have helped them in acquiring vessels in the past,” he added.

Joseph Babatunde, group head, Large Enterprises for BOI, who represented the managing director, assured that BoI will continue to support companies like C& I Leasing that aimed at creating employment and growing the economy. “We will do more to help such companies.”

Delivering the closing remarks, Emeka Ndu, vice chairman of C&I Leasing, expressed appreciation to FCMB and BoI for coming to their aid in the time of need.

He said that FCMB has been there for the company even when other banks failed to support the company. “During the building of the vessel, BoI came to our aid when foreign exchange became a critical issue for the project.”

Ndu, who said that Shell gave C&I Leasing its first contract also disclosed that Shell has always been there for the company for many years now.

MV Bello 2015 was commissioned by Michelle Bello, daughter of Air Vice Marshall Abdullahi Dominic Bello (rtd), former chairman C&I Leasing and whom the vessel was named after for to honour his many years of support to the growth of the company.

Uzoamaka Anagor-Ewuzie