25 November 2019
BIMCO expects freight rates will once again come under pressure after the end of the high seasonal demand in Q4, as well as the boost from the sulphur cap. The fleet growth of 6.3% in the crude oil tanker market and the 4.8% growth in the oil product fleet will have its consequences on the supply and demand balance.
28 August 2017
The global tanker industry is directly linked to the global oil industry. Right now, demand for seaborne transport of oil is below normal and fleet growth is high, which means that the fundamental balance is uneven. The result is declining tanker earnings with the main culprit being the fast-growing fleet.
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.
10 April 2014
Global oil demand is seasonal, with Q1 being the weakest season – again, leaving only upside for the remainder of the year.
15 October 2014
The world seems to be awash with oil these days, to an extent that no geo-political tensions in the oil-rich producing nations can make us “scared enough” to hike oil prices. We seem to have become accustomed to a world where such tension is the norm. This is very good news for the world economy, as it brings down the cost of energy – despite a number of ongoing major conflicts and the challenges related to Ebola in West Africa.
22 May 2015
The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of ever bigger ships, shipowners across the board seem to have a lot on their plates.
09 February 2018
Joint-industry alert on piracy in the Gulf of Guinea
23 February 2018
As an additional aide to the advice promulgated on 9 February 2018, BIMCO urges all members to note the guidance and advice contained in the following security notice for ships operating in the Gulf of Guinea region.
31 March 2020
Industry organisations, supported by government and military organisations, have worked together to produce a new publication that will help mariners detect, deter and delay external threats to their safety. Best Management Practices to Enhance Maritime Security for Vessels & Mariners Operating Off the Coast of West Africa including the Gulf of Guinea (BMP WA) consolidates and enhances existing guidance for specific threats in this region.
27 May 2019
A fresh annual report from the International Maritime Bureau shows that attacks in West Africa helped push piracy numbers up in 2018. In terms of military and law enforcement, an international operation is not complicated, so what is needed above all is the will to act.