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The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
The International Maritime Organization (IMO) Sub-Committee on Pollution Prevention and Response (PPR 4) will meet next week.
As 1 January 2020 approaches and the sulphur regulation from the International Maritime Organization (IMO) comes into force, BIMCO is experiencing an increase in questions related to the discord between the verification produces for statutory fuel oil samples and commercial fuel oil samples.
The International Maritime Organisation’s 2020 global sulphur limit for marine fuel oil has been in force for more than a year. BIMCO, The International Chamber of Shipping (ICS), INTERCARGO and INTERTANKO are calling on Fleet Managers, Vessel Managers, Technical Superintendents, Masters and Chief Engineers to share their insight and experiences with marine fuels in a new survey aimed at identifying potential quality and quantity issues.
Oil product tankers earnings have skyrocketed in the first half of 2020, while the Sale and Purchase (S&P) activity of the oil product tanker market has slowed to the lowest level since 2016.
The coronavirus pandemic is impacting global shipping demand for 2020 negatively.
The new BIMCO magazine the “Bulletin” is out. The February issue looks at the financial side of 2020, offers the latest market analysis from Chief Shipping Analyst, Peter Sand and talks to the UN about smuggling. Also, BIMCO’s Secretary General, Angus Frew, calls for naval support in the Gulf of Guinea in his foreword.
The Law and Arbitration Clause 2020 replaces the Dispute Resolution Clause 2017. There are versions available for four named arbitration venues – London, New York, Singapore and Hong Kong. The mediation provision found in earlier versions of this clause has been removed and made into a free standing clause that parties can incorporate by choice. The Law and Arbitration Clause 2020 consists of five short subclauses. Adopted 21 September 2020
