Russia - Trading restrictions

Germany, FR of - Trading restrictions

Eritrea - Trading restrictions

BIMCO supports mandatory reporting procedure on lost containers

In a commenting paper drafted by the EU Commission, BIMCO expresses its support for mandatory reporting procedure following detection of containers lost at sea. The paper is a response from World Shipping Council, BIMCO and the EU Member States to a submission from Vanuatu.

Congo, Democratic Republic of - Trading restrictions

Industry Releasable Threat Assessment

This document provides updated information on threats affecting merchant ships in the Red Sea, Gulf of Aden (GoA), Gulf of Oman (GoO) and the Western Indian Ocean.

Shipping industry comments on EP vote on regional CO2 measures

Following today’s vote in the European Parliament, adopting a regional EU Regulation on the Monitoring, Reporting and Verification (MRV) of individual ship emissions of CO2, the International Chamber of Shipping (ICS), BIMCO and Intercargo have issued the following statement...

China’s 15m tonnes oil products export quota could boost tonne miles to EU

On 30 September 2022, China added 15 million tonnes to its 2022 export quota for oil products. The quota includes 13.25 million tonnes for gasoline, diesel and jet fuel as well as 1.75 million for low-sulphur marine fuel. If headed for the EU, it could be a welcome addition to the block seeking to replace on average 2 million tonnes of diesel imports from Russia when sanctions take effect from February 2023 and demand for heating increases in the winter months. It could also add some attractive tonne miles for product tankers.

Decarbonising shipping - the contractual challenge

The complexities of maritime decarbonisation are underscored by the industry's multifaceted challenges in reducing greenhouse gas emissions. The European Union (EU) and the International Maritime Organization (IMO) have implemented new rules to address this imperative. The EU and the IMO have set ambitious emission reduction targets for the shipping sector, encouraging the adoption of alternative fuels and energy-efficient technologies. Simultaneously, the IMO’s strategy for the reduction of GHG Emissions from ships outlines a phased approach towards decarbonisation. These regulations necessitate significant technological and operational changes for shipowners, charterers, and operators. Achieving compliance involves navigating intricate compliance frameworks, especially considering the diverse nature of vessels and trades. As the maritime industry steers through these uncharted waters, collaboration, innovation, and a holistic understanding of the regulatory landscape are crucial for a sustainable and decarbonised future. The maritime industry will need to consider whether the contractual structures that have been in place for over a century suit the journey toward decarbonisation.

BIMCO adopts new CII clause for Voyage Charter Parties

The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU) and an increase in the urgency to decarbonise. To support the industry, BIMCO has developed a new CII Clause for Voyage Charter Parties. The clause was adopted by BIMCO’s Documentary Committee on 11 October and is the latest addition to BIMCO’s portfolio of carbon clauses.