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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.
Standardising and harmonising electronic ship/shore communication for reporting purposes is high on the agenda at the International Maritime Organization’s (IMO) virtual Facilitation Committee (FAL) meeting next week (FAL 44).
BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) have approved a voyage charter party, ASBAGASVOY, for publication to serve the growing gas tanker industry. Work will now begin to revise ASBATANKVOY, one of the most used tanker charter parties in the world.
As agricultural dry bulk commodities exports took a dive in the first quarter of this year and painted a gloomy picture for Panamax and Handymax freight rates, a stunning second quarter comeback have nearly tripled freight rates.