TI customs bond cost is: 100 x 0.15 x .03 = 450K$
Customs bond value is approximately 15% of the vessel’s value (bareboat and equipment). A bank or an agent can finance the bond. The usual cost to issue the bond is about 3%. Some banks do not require cash deposit or cash collateral.
TIP registration per vessel: NGN 5,000,000 (~16 k$)
Bond registration per vessel: NGN 1,500,000 (~5 k$)
OSP cost : 680$ per pax
A new permit is being requested by the DPR (Department of Petroleum Resources) and it applies to every person planning to work offshore. it costs about $680/person for 12 months validity. Getting the permit is a very slow process that requires submitting a number of documents and details (passport, medical certificate, BOSIET, next of kin, etc…) and then chasing the authorities to get the OSPs back.
minimum : 2 weeks.
Cabotage tax Cost : 200k x 2% = 2000 $
Foreign vessel working in Nigerian waters are required to pay a “Cabotage Tax”. For proprietary surveys, it represents 2% of the daily charter rate of the Seismic vessel ( ex : 200kUSD ) . In theory, daily expenditures such as fuel and salaries could be removed from the calculation to reduce the tax liability.
Cabotage registration fee of $1,500 per vessel (one off payment)
NIMASA (Nigerian Maritime and Safety Agency) requires waivers for vessels which are: – foreign built – foreign flagged – foreign manned The ownership waiver’s cost varies depending on the type, size and tonnage of the vessel.
NIMASA Seismic vessel cost 50 k$
NIMASA support vessel cost 25 k$
Building waiver cost 1000 $
Other NIMASA & NPA registration costs 10 k$ in total
Manning waiver “penalty”cost for each foreign crew $500/person.
The cost is not significant, so it is recommended to apply for waivers for a maximum number of people. The waivers are per position, not assigned to a specific individual. Unless NIMASA/NCDMB oblige seismic operator to have a number of Nigerian personnel onboard, it is good to apply for manning waiver for all pax.
NPA (Nigerian Port Authorities) charges for vessels entering Nigerian ports according to parameters such as gross tonnage, length, etc…
NPA typical seismic vessel cost = 230 k$.
NPA typical support vessel cost = 30 k$