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TOWCON is an ocean towage agreement on a lump sum basis. It is not intended for use in port towing. The latest edition of this contract is TOWCON 2021. Copyright in TOWCON 2021 is held by BIMCO.
TOWHIRE is an ocean towage agreement on a daily hire basis. It is not intended for use in port towing. The latest edition of this contract is TOWHIRE 2021. Copyright in TOWHIRE 2021 is held by BIMCO.
ASVTIME, the new time charter party for accommodation support vessels, was recently adopted by BIMCO’s Documentary Committee and is now available for use in SmartCon.
Amendments to MARPOL Annex VI have been adopted, introducing procedures facilitating port State control’s (PSC) sampling from fuel oil tanks to verify the sulphur content. The amendments will enter into force on 1 April 2022.
The 75th session of International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 75) has in November 2020 adopted amendments to MARPOL Annex VI, introducing a method for fuel oil sampling from ships' fuel oil tanks to verify the sulphur content. The new amendments will enter into force on 1 April 2022.
Despite recent cold weather in Texas disrupting oil and gas production, a comeback in US shale may already be on the horizon given the increasingly bullish fundamentals of the global oil market. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
After a turbulent year, low demand looks set to plague the market in the coming months combined with too many ships fighting for too few cargoes in both the crude oil and oil product segments.
Healthy activity materialized in the dry bulk secondhand market for another week. The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers. Secondhand asset values refer to Japan Blt vessels.
In many ways, shipping managed to dodge the worst bullet in 2020, as the nature of the crisis, its containment measures, and government stimulus around the world meant that global trade volumes were not hit as badly as global gross domestic product (GDP) or other even worse-performing sectors, such as services.
Oil prices are back above $60/bbl, their highest level since January 2020, before the Wuhan lockdown. Weekly tanker market report by Gibson Shipbrokers.
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