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.
03 April 2020
BIMCO has, together with a number of European countries and international organizations, submitted a document to the International Maritime Organization (IMO), offering support for new output on the mandatory reporting of containers lost at sea.
27 March 2020
BIMCO makes a continuous effort to provide information on the most recent restrictions.
20 September 2019
For the new season beginning September 2019, New Zealand, Australia and Chile have introduced tougher rules to combat increasing spread of Brown Marmorated Stink Bug (BMST) coming from targeted "BMST" countries.
31 August 2018
Seasonal measures introduced by Australia, New Zealand and Chile to combat marmorated stink bug risk.
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.
20 April 2017
Oil tankers experienced a tough start to 2017 as freight rates for all crude oil and oil product tankers continued their decline following the brief lift at year-end. For one, VLCCs may not yet have bottomed out. By 7 April 2017, average earnings stood at USD 18,853 per day, down from USD 63,284 per day on 16 December 2016.
11 December 2014
It surely holds the potential to do so, on a national level as well as on the individual shipping company level.
14 August 2014
The International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the US in the first quarter of the year. The IMF stressed that this is now behind us – and it therefore sticks to its 2015 projection with an unchanged growth level of 4.0%.
09 April 2014
As the recovery continues to move forward, the bumps in the road are both new “friends” and old “foes”. We are still concerned with the lack of inflation in both the US and Eurozone, as production capacity far exceeds demand.