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Tonne mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020.
Despite low freight rates, very few crude oil tankers have been sent for demolition so far this year.
The digital quarterly magazine containing all the best comment, analysis and information digests from BIMCO.
The turbulence of the past year has in many ways clouded the underlying fundamentals in the dry bulk shipping market, but with 2020 now behind us, we are in a better position to establish an overview of expectations for 2021.
This year, tanker shipping will not benefit from the usual strong winter seasonal effect. Though the new lockdowns being introduced in many countries are less strict than in the spring, the effect on tanker shipping will be worse, given the oil supply glut of Q2.
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-even point, though not high enough to make up for losses made during the first part of the year.
The Australia Maritime Safety Authority (AMSA) updates the temporary arrangements during COVID-19 relating to the maximum period of shipboard service allowed for seafarers under the Maritime Labour Convention, 2006 (MLC,2006).
This eBook includes a sample copy of the GENCON 1994 contract and the related explanatory notes in the latest version.
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