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BIMCO welcomes the development of IMO guidelines on safe operation of on-shore power supply service in port (cold ironing), but believes caution must be taken when considering cold ironing to be a sustainable technical solution.
Preliminary forecast on Baltic ice conditions near Russia as well as for the Gulf of Finland
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.
Based on a request from the US Environmental Protection Agency (EPA), BIMCO is doing a so-called “Bad Bunker Survey”. We ask members for their experiences and data with bad bunkers in order to collect data for EPA to potentially be used as evidence in cases against bad bunker suppliers.
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.
The impact of the sanctions against Iran and global stockpile levels are two factors to watch out for.
SHIPTERM S is a standardised term sheet intended for use in a syndicated, secured term loan ship financing transaction. The term sheet has been prepared for use in transactions between a syndicate of lenders and one or more affiliated borrowers. The latest edition of this contract is SHIPTERM S, issued in 2018. Copyright in SHIPTERM S is held by BIMCO.
This is the latest in a series of reports supplied by the Chamber of Shipping of America (CSA) with the intention of keeping BIMCO members appraised of legislative developments in the US affecting international shipping. BIMCO highlights only the relevant developments that would impact members. The full CSA March report is also provided.
Join us on Thursday 5 April at 9.00 CET (10.00 CEST) to hear about the newly published BIMCO/FONASBA General Agency Agreement.
The future of oil demand and subsequently of tanker demand is very much policy driven. It has been so in the past to some extent, but in coming years this will be more apparent.
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