THE National Trade Office (NTO) is pleased to announce the successful visit and inspection of a shipping vessel by Vanuatu Ferry Ltd, a subsidiary of the Degage Group, on 2nd November at Motukea Port, Port Moresby.
This visit marks a significant step forward in establishing Degage Group’s investment in Papua New Guinea’s (PNG) shipping and agricultural sectors, promising new trade links, enhanced supply chains, and local employment opportunities in PNG.
The inspection event was led by NTO’s Chief Trade Officer, Mr. Richard Yakam, and included representatives from the Ministry of International Trade and Investment, the Investment Promotion Authority (IPA) and Department of Transport. Degage Group, a highly regarded family-owned enterprise with 56 years of maritime experience, aims to replicate its successful operations in Vanuatu and French Polynesia to support PNG’s domestic shipping and agricultural development.
Speaking about the visit, Mr. Yakam emphasized the importance of this investment in strengthening PNG’s supply chain for domestic produce and creating employment. He shared, “Our office has been coordinating closely with Degage Group to facilitate their entry into PNG’s shipping industry, recognizing their extensive experience and commitment to maritime shipping and agriculture down streaming. This investment aligns with national priorities and will help us drive economic growth, particularly in essential sectors like shipping and agriculture.”
On behalf of the Minister for International Trade and Investment Hon Minister Richard Maru, Mr. Yakam also expressed gratitude to the vessel’s captain, Capt. Warren Nelson and crew, warmly welcoming them for their safe arrival to PNG’s shores. “We are pleased to have you here and appreciate the efforts that went into making this journey. Your arrival marks an exciting step for PNG as we explore the possibilities of this partnership,” he said.
Mr. Yakam reported that the initial steps for Degage Group’s investment involved securing necessary permits and registering the vessel with the National Maritime Safety Authority (NMSA). The permit application under the Merchant Shipping Act 1975 was lodged on 16th September 2024. Additionally, the Investment Promostions Authority (IPA) will be facilitating the company’s registration, which enables Degage Group’s formal entry into PNG’s business landscape, allowing them to establish banking, taxation, and employment frameworks.
He noted that Degage Group’s vessel, with a cargo capacity of 180 tons and refrigerated 20-ft container capability, will play a key role in PNG’s agriculture supply chain. “This investment will help lower sea freight costs for domestic markets and help meets local domestic supply chain demand while ensuring food safety standards are maintained,” Mr. Yakam added.
This investment interest has been pursued for more than a year by National Trade Office with collaborative efforts from Investment Promotion Authority,National Maritime Safety Authority, National Fisheries Authority and PNG Fresh Produce Development Authority.
Degage Group representatives will continue collaborating with PNG government agencies to finalize its investment and a formal welcome will be done by Minister for International Trade and Investment Honourable Minister Richard Maru before commencing operations.
