China bans scrapping of foreign ships by end of year
09 July 2018The Chinese government has vowed to put an end to the scrapping of ships not carrying a Chinese flag.
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The Chinese government has vowed to put an end to the scrapping of ships not carrying a Chinese flag.
During the first half of 2021, a total of 277 container ships have changed hands, a 103.7% jump from 136 ships bought and sold in the same period of 2020 (source: Vessels Value).
The handy guide contains explanatory notes to all of BIMCO’s current standard ship management contracts.
BIMCO has submitted four papers to the Maritime Safety Committee. The papers discuss how autonomous ships should be tried before they are allowed to operate, and that cyber risk management should be part of the ship’s Safety Management System.
Since the beginning of 2019, the EU has had its own set of rules for ship recycling. The rules may even influence shipowners not using an EU flag.
BIMCO has developed a new standard term sheet for syndicated ship financing (SHIPTERM S) – the first industry standard of its kind for syndicated loans. The term sheet was approved for publication at BIMCO’s biannual Documentary Committee meeting on May 2 in New York.
The industry’s first ever standard ship conversion contract, CONVERSIONCON, complements BIMCO’s other ship repair and construction contracts. It is available for use on BIMCO SmartCon today.
BIMCO and the Royal Institution of Naval Architects (RINA) have identified a need for – and therefore proposed - an alternative method to determine an accurate reference speed in connection with a carbon reduction framework currently under development by the International Maritime Organization (IMO). The aim is to secure that older ships also can obtain a reliable energy efficient design index (for existing ships), even if the original sea trial data from when the ship was delivered, is lost.
BIMCO's position has been approved by the BIMCO Board of Directors.