03 June 2019
Mike is a partner and head of Stephenson Harwood’s marine and international trade practice. He specialises in shipping, carriage of goods, contentious ship finance disputes and ship and offshore vessel construction. Mike’s clients include banks, shipowners, traders and P&I clubs/insurers. Acting for some of the world’s largest and most well-known shipowners, he has experience of dealing with a wide range of matters from cargo claims and off-hire disputes to groundings and vessel fires. On the contentious ship finance side, Mike represents leading ship finance banks in a wide array of disputes arising from both pre and post-delivery finance.
25 March 2019
BIMCO will host its Ordinary General Meeting in Athens on 14 May, followed by a Power Panel on the shipping market outlook and concluding with a reception. BIMCO members are invited to join at the Yacht Club of Greece.
13 May 2013
The shipyard industry seemed to head straight for the output-abyss just 15 months ago. Today the transition from recent years' record high shipyard output to a more sustainable level of output appears to soft-land with global shipyard output clearly slowing down. This BIMCO analysis compares data from December 2011 with data from March 2013, representing a remarkable turn for the shipyard industry.
12 August 2010
Demand: EIA has revised their oil demand forecast upwards for 2011. Global oil demand in 2011 is now expected to rise by 1.3 million barrels per day (MB/day) to 87.8 MB/day assuming consensus trends in the global economy, crude prices development and possible efficiency gains. Growth will be driven entirely by non-OECD countries (+3.8% or +1.6 MB/day), while the OECD sees resumed decline (-0.5% or -0.2 MB/day). The outlook for 2010 remains unchanged at 86.5 MB/day (+2.1% or +1.8 MB/day versus 2009).
13 June 2010
VLCC freight rates settled down to around USD 45,000 per day in the second half of May but continue at sustainable levels that have been the norm in that market
09 April 2019
US exports of crude oil have, since August 2018, continued to rise every month, with a new record high in January of 9.6 million tonnes.
03 December 2019
2020 marks a milestone for the shipping industry with the IMO 2020 Sulphur Cap set for implementation on 1 January 2020. Join BIMCO’s Chief Shipping Analyst, Peter Sand, as he offers his take on what the year will bring for the container shipping segment and the shipping industry in general.
15 August 2011
While growth in most emerging and developing economies continues to be strong, slowdowns caused by the devastating earthquake and tsunami in Japan, weaker than expected activity in the US and shocks to oil supply weighed on the global expansion in the second quarter of the year, the IMF said recently.
13 December 2011
Overall, it’s noticeable that record numbers of fixtures and demand for tonnage only produce a short-lived spike at rather low altitudes – making little impact on stretched owners’ financial accounts. Ship owners without a solid cash balance and a strong, or at least sustainable, cash flow will find it increasing difficult to continue in this business at the present level and volatility.
09 October 2011
Global oil demand has never been higher, despite recent revisions. Demand is driven by growth in Asia, the Middle East, Latin America and FSU, while requirements in North America and EU are contracting in 2011 as well as in 2012. The IEA has revised down its demand outlook by 0.2 million barrels per day (mb/d) for 2011 to reach 89.3 and by 0.4 mb/d for 2012 to reach 90.7. Growth outlook now stands at a modest 1.1% in 2011 and 1.6% in 2012.