Explanatory notes

Change in piracy threats in Indian Ocean prompts re-think of High Risk Area

A continued downward trend in Somali piracy has prompted leading shipping organisations to reduce the geographic boundaries of the ‘High Risk Area’ (HRA) for piracy in the Indian Ocean, which will apply from 1 September 2021.

Tanker Shipping - Strong demolition prices and volume supports an uneventful market looking forward

Demolition prices have been on the rise since late last year and recently reached the same high levels seen in the beginning of 2012. In two of the major demolition markets, India and Pakistan, the positive development started around October 2013 after a year of more or less status quo. In China, also a large market for demolition, development has been the opposite, with slowly declining prices since the beginning of 2013.

A historically bad crude oil tanker market struggles to find solid support

2018 has been absolutely horrible for the crude oil tankers with freight rates and the fleet utilisation rate falling to a record low level.

IMO SDC 4 still tied-up on the development of new regulations and guidelines for safe mooring operations

BIMCO attended the 4th session of the IMO Sub-Committee on Ship Design and Construction (SDC 4), which was held in London from 13 to 17 February 2017.

A premium of 25% on new-building prices is commercially viable for ECO ships

We have been heard a lot of debate and speculation regarding the commercial viability and attractiveness of ECO ships and fears of a two tier market reflecting ship energy efficiency. As a natural consequence of the obvious uncertainties and in an effort to address these, BIMCO has undertaken a review, the result of which is outlined below.

How the global shipping industry may be impacted by the European Corporate Sustainability Reporting Directive (CSRD)

The European Corporate Sustainability Reporting Directive (CSRD) will apply to certain companies in 2024 with reports due in 2025, and the scope will be expanded over the next four years. The new rules will significantly impact industries, bringing both challenges and changes to companies and their practices. While your company may not fall within its scope, the effects of the CSRD could soon reach your operations – even outside the EU. Is your company aware and prepared?

BIMCO’s Wayne Zhuang examines the crew change crisis two years on

Owners, managers, and not least the seafarers, are still suffering with COVID-19 challenges of crew change as different nations adopt different policies. Why is it lasting so long? Use of the “Crew change and deviation clause” far outweighs the “no crew change” clause. BIMCO’s regional manager in Asia, Wayne Zhuang, examines some of the challenges surrounding crew change during the pandemic and as the war in Ukraine adds new challenges to existing problems for owners, managers, and our seafarers.

Navigating the Baltic Sea in ice conditions

Describing the Baltic ice conditions and services available for ships navigating the Baltic sea area during winter.

BIMCO President speaks about opportunities and threats for shipping from digitalisation including stressing the human element

The BIMCO President Mr Papagiannopoulos highlighted the main opportunities and threats for shipping coming from digitalisation at the 3 rd ShipIT conference in Athens on 27 September 2017. The opportunities and threats include the admin burden on board ships, autonomous ships, blockchain, cyber risk management and not least the human elements of all these issues.