BIMCO applauds the landmark announcement by Maersk
05 December 2018BIMCO applauds the landmark announcement by Maersk of its ambition to reach carbon neutrality by 2050.
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MEPC reaffirms that early movers of ballast water systems are not penalised
07 July 2017MEPC 71 progressed in ensuring smoother implementation of the ballast water convention. One of the achievements was reaffirming the agreement regarding the provisions for non-penalisation of early movers that have installed ballast water management systems according to G8 guidelines.
COVID-19 affecting new inventory of hazardous materials requirements in December
29 April 2020From 31 December 2020, all ships of 500 GT and above – regardless of the flag they are flying – will be required to carry an inventory of hazardous materials (IHM) when calling a port or anchorage of a country that is a member of the European Union (EU) or European Economic Area (EEA). Failure to do so may result in penalisation.
Ballast Water Management - the deadline 080917 is approaching
25 July 2017The International Maritime Organization's Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM) enters into force 8 September 2017. Under the Convention, all ships in international trade are required to manage their ballast water and sediments in accordance with an approved ship-specific ballast water management plan. All ships will also have to carry a ballast water record book and an international ballast water management certificate.
Q&A interview on SHIPLEASE, BIMCO’s new standard term sheet for ship sale and leaseback deals
12 October 2020BIMCO has enhanced its ship finance term sheet suite by introducing SHIPLEASE, an industry first standard for ship sale and leaseback. SHIPLEASE is an indicative term sheet for use in both operating and finance leases. It has been developed mainly for second-hand ships but can be adapted to fit newbuildings.
Container Shipping
17 December 2009Still a long way to go before demand catches up with the massive amount of tonnage. Demand: Generally speaking demand is still pretty sluggish, but having said that, the future trends have already arrived. Intra-Asia trade is set to be where the volume growth is going to be strong.
The average age of demolished crude oil tankers hits 21 – not much room left for demolition balancing the market!
22 May 2012Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.
Macro Economics: Uncertainty in Asia echoes around the world
22 January 20162016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely, the trading results echoed around the world. It warned us that we are in for a rough ride in 2016.
Container Shipping - Is the strong level of demand sustainable going forward?
15 October 2014Two key trading lanes attract attention these days: one being the major battlefield today – the other being the potential battlefield of tomorrow.
China’s aim of 7.5% GDP growth for 2014 is positive news for the shipping market – in particular, dry bulk
06 March 2014“The importance of China to the shipping market is second to none. This goes for all major shipping segments. In spite of leaving the double-digit growth rates behind us in the previous decade, the sheer size of the world’s second-largest economy now gives so much impetus to our industry that we have become addicted to China.”
