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Work has begun on the revision of BIMCO’s Standard Ship Repair Contract, codenamed REPAIRCON.
We have been heard a lot of debate and speculation regarding the commercial viability and attractiveness of ECO ships and fears of a two tier market reflecting ship energy efficiency. As a natural consequence of the obvious uncertainties and in an effort to address these, BIMCO has undertaken a review, the result of which is outlined below.
Scrubbers were installed on 399 ships in 2022, a fall of 24% y/y, and currently 13% of bulker, container, and tanker ships have a scrubber installed. Despite the slowing rate of installations, the share of ships with a scrubber is set to increase in coming years as 17% of ships in the shipyards’ order books are expected to have a scrubber installed.
BIMCO, the world’s largest shipping association, has moved a step closer to finishing a global set of guidelines needed to protect the marine environment from invasive species and reduce CO2 emissions. Currently, there is no common global standard for cleaning ships’ hulls to avoid transferring invasive aquatic species, nor for the potentially damaging debris washed off in the process.
World Health Organization (WHO) issues interim guidance on operational considerations for managing coronavirus outbreak on board ships.
A speaker blog for World Ocean Summit Asia-Pacific by Sabrina Chao, president of BIMCO, published in The Economist Impact, September 2020
The guidelines are based on shared best practices put together by the Vehicle Carrier Safety Forum (VCSF), a consortium of ship operators, insurers and industry experts, whose role is to promote safety on ships that carry vehicles.
Over the next ten years, from 2023 to 2032, more than 15,000 ships with deadweight capacity of more than 600 million tonnes are expected to be recycled, more than twice the amount recycled in the previous ten years.
Despite increased demolition of Capesize ships, the size of the fleet is set to grow substantially.
