03 January 2017
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.
01 November 2018
The trade war and particularly the Chinese tariffs on imports of US soya beans can now clearly be seen with the start of the soya bean exporting period in the US.
06 November 2017
This is the highest global oil demand ever but it's also a large and growing fleet. What the tanker market needs most right now is more tankers engaged in floating storage facility.
18 December 2018
This article contains extracts from BIMCO's Reflections 2019, which will be available in full on 2 January 2019 on www.bimco.org and will be sent out to all BIMCO members alongside thier free member copy of BIMCO's Holiday Calendar 2019.
20 November 2018
The continued severity of the tanker market conditions has made owners dig deep into the oversupply of capacity. Still BIMCO expects the tanker fleet to keep growing. A short-term rate recovery is not expected, as it is ‘maintenance season’ for the global refining industry in September and October.
09 October 2015
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil prices from mid-2014 created strength on both sides.
17 September 2015
The low demand on the high volume trade lanes is surely increasing the pressure on earnings which is already felt in the container shipping industry.
28 August 2015
20 May 2019
01 February 2017