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Newbuilding report dated 11 October 2022

12 October 2022

Ordering activity, albeit firm during last week, has begun to reshape in order to adapt to current geopolitical disruptions that have been causing mounting concerns over security.

Australia on track for new harvest record and 9.8% jump in wheat exports

15 December 2022

Despite floods in November, the Australian wheat production estimate for the 2022/23 marketing year (July 2022 to June 2023) has been increased by the United States Department of Agriculture (USDA). Australian wheat exports could rise 9.8% this marketing year driven by strong harvests and strained global supplies.

China’s appetite for bauxite hits new record as Q1 imports jump 15.4% y/y

21 April 2022

Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and 2021, significantly outpacing all other commodities which combined grew at an average of just 4.3% per year. So far in 2022, the appetite for bauxite imports has remained high and the price of aluminium has reached its highest level in 14 years.

BIMCO Force Majeure Clause 2022 launched

10 January 2022

The unforeseen events of recent years have demonstrated how beneficial it can be for parties to contractually “expect the unexpected” – whether the event is extraordinary weather conditions caused by climate change or a pandemic. To help parties prepare for the unexpected, BIMCO has published a new clause

Global container volumes fall 9.3% y/y as historic growth cycle ends

07 December 2022

From mid-2020, global container export volumes saw strong growth, and combined with increasing port congestion it caused supply chain challenges and historically high liner operator financial results which have been the norm since. In September 2022, however, container volumes dropped below volumes recorded in the same month in 2019 for the first time since mid-2020 and statistics just released by Container Trade Statistics have confirmed the trend.

Oil production and Chinese buying boost Brazil’s crude tanker exports 19%

14 February 2024

The reshaping of global crude tanker markets continued in 2023. In 2022, sanctions shifted Russia’s exports from Europe to Asia while OPEC production cuts in 2023 increased the Americas’ share of exports. Brazil’s oil production increased by 12% year-on-year in 2023 while crude tanker exports rose 19%.

Infectious or Contagious Diseases Clause for Time Charter Parties 2022

07 December 2023

Infectious or contagious diseases on a pandemic or epidemic scale are likely to continue to confront and challenge the maritime sector. To provide the industry with a contractual solution that addresses the practical and commercial realities, BIMCO has published this 2022 version to replace the previous (2015) clause.