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The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.
BIMCO will now refer to general average being adjusted in accordance with the new York-Antwerp Rules (YAR) 2016
The Baltic Dry Index (BDI)’s positive effect on capacity being removed from the fleet did not continue into Q2 2016, as capesize demolition came to a halt.
Demolition of containerships almost tripled in the first 5 months of the year 2016 in comparison to the same period of last year.
CEMENTVOY is a standard voyage charter party for the carriage of cement in bulk. It is accompanied by its own bill of lading, CEMENTVOYBILL 2016. The latest edition of this contract is CEMENTVOY 2006. Copyright in CEMENTVOY 2006 is held by BIMCO.
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