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During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis.
Work continues apace to prepare two important carbon clauses for publication in May. The most of challenging of these tasks is the development of a CII Compliance Clause for Time Charter Parties. Technical, commercial and legal experts have been meeting weekly for many months to try to find a practical solution for owners and operators operating under the new CII regime. As of 2023, ships will enter an annually narrowing emissions “corridor” where owners and charterers will need to work closely together to ensure continuing compliance. The BIMCO CII Clause will need to balance the operational restrictions imposed on owners by the low carbon regime against allowing charterers to optimise the ship’s commercial activity during the charter period.
Chinese regulators have updated part of its domestic emission control area (DECA) regulations with effect from 1 January 2019 but has not yet placed a full ban on open-loop scrubbers as reported widely.
BIMCO has established a dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, a key component of the EU's Fit for 55 legislative package. The regulation is a central pillar of the EU's commitment to reducing greenhouse gas emissions by at least 55% by 2030 and achieving climate neutrality by 2050.
The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
The Maritime Safety Committee (MSC 103) meeting of the International Maritime Organization (IMO) was held remotely from 5 to 14 May. One of the issues discussed at the meeting - among a very comprehensive list on the agenda, was new measures to mitigate for containers lost at sea.
BIMCO and Safety at Sea will be hosting an engaging and informative webinar on 11 August that will include the results of their Maritime Cyber Security survey to inform briefings and discussions among maritime experts.
With discussions at the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC) meeting (held 10 to 17 June 2021) on sea-based sources of marine plastic delayed until the end of the year, BIMCO is looking at what the shipping industry can to do reduce its plastic footprint to ensure momentum is not lost in the absence of formal discussions at the IMO.