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Friday, January 24, 2020

Bimco

Bimco Publishes new sanctions clauses to meet geopolitical challenges

Sanctions have become a widely used geopolitical tool by governments. The rules are complex, imprecisely drafted, often changing, and the risks of violation can be high. The necessity of sanctions clauses that provide contractual...

Shipping sector proposes usd 5 billion R&D board to cut emissions

- A new non-governmental Research & Development organisation to pave the way for decarbonisation of shipping. - Core funding from shipping companies across the world of about USD 5 billion over a 10-year period. - To...

BIMCO RESTRUCTURES COMMITTEES TO BALANCE SAFETY AND ENVIRONMENT

In the future, BIMCO will have a Marine Environment Committee and a Maritime Safety and Security Committee. “The new setup reflects the meeting structure at the International Maritime Organization (IMO), and will facilitate a better...

BIMCO TO PUBLISH NEW SHORTENED LAW AND ARBITRATION CLAUSE

At the bi-annual Documentary Committee meeting in Copenhagen on 5 December, it was agreed to begin the work to simplify the clause, partly by removing the mediation provision that was added to the clause...

BIMCO SUBMITS BIOFOULING SURVEY RESULTS TO THE IMO

As biofouling is attracting an increasing amount of attention from states, shipowners, and port authorities around the world, BIMCO is continually working on biofouling management and ways to improve access to in-water cleaning. Biofouling is...

CONTAINER SHIPPING: PRESSURE REMAINS DESPITE SOME OF THE TRADE WAR DAMAGE BEING OFFSET BY...

Demand drivers and freight rates Container shipping has in the last few months felt the effects of the trade war digging in, as global container volumes continue to see very sluggish growth, now standing at...

DRY BULK SHIPPING: FREIGHT RATES DOWN FROM MULTI-YEAR HIGHS AS THE MARKET FUNDAMENTALS MAKE...

Demand drivers and freight rates After peaking in September, the fundamentals of the market have begun to drag on freight rates – although the rates remain above the average experienced so far this year, buoyed...

Tanker Shipping: Sky-High Freight Rates Have Given Way to a Profitable Winter Market Supported...

Demand drivers and freight rates Reported very large crude carrier (VLCC) earnings reached USD 307,888 per day on 11 October, although the following week they fell as quickly as they had risen. After the drop,...

Tanker Owner Gets Valuable Crew Insights From Shipping KPI

The new data overview helped them explain costs compared to fleets under other flags, and it turned out that the more junior second officers were more critical to their safety than they thought, whereas...

IMO2020: Market Uncertainty Brings More FUEL OIL Price Volatility

The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. Whereas, the price for Marine Gas Oil Low Sulphur (MGO LS) has largely remained...