Delay in Refund of Container Deposits: SEREC Proposes Solutions to Shipping Industry Challenges
Containers at AIM Bonded Terminal, Sagamu, Ogun State
The Sea Empowerment and Research Centre (SEREC), a maritime research and advocacy organization committed to promoting sustainable shipping practices and policy reform in Nigeria, has raised concerns over the continued delay in the refund of container deposits by shipping lines — a challenge that has caused growing frustration among shippers and freight forwarders nationwide.
According to Eugene Nweke, Head of Research at SEREC, the issue stems from shipping lines collecting container deposits but failing to process refunds promptly, resulting in operational bottlenecks and financial strain on industry stakeholders.
In response, SEREC has outlined a series of recommendations aimed at improving refund efficiency and strengthening container management within the maritime sector.
The organization advocates for the establishment of clear regulations and enforceable guidelines mandating the timely refund of container deposits by shipping lines, along with penalties for non-compliance. It also calls for the creation of industry-wide standards to harmonize refund processes and the adoption of automated systems to speed up transactions and improve transparency.
On stakeholder engagement, SEREC emphasized the need for collaboration among shipping lines, shippers, and freight forwarders to identify challenges and co-develop effective refund mechanisms. The center also urged transparent communication regarding refund timelines and the use of tracking systems to monitor refund progress.
Furthermore, SEREC suggested exploring alternative deposit schemes, such as insurance coverage or collectively managed industry funds, to ease the financial burden on shippers and freight forwarders.
Nweke concluded that implementing these measures would not only improve refund efficiency but also reduce port congestion, enhance operational performance, and strengthen Nigeria’s position as a competitive and reliable maritime hub.