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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 July report is also provided.
If you work a little harder every day and do your work a little better and smarter today than yesterday, you will stand a better chance of running a successful shipping business. Those words of wisdom catch the optimism bubbling at the NAVIGATOR 2011 event in Athens, Greece. A business full of hardship in recent years has only drowned a few of the die-hard optimists within the shipping industry.
The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development.
The background for this publication is the new regulations relating to ballast water that have changed dramatically in recent years and the operational aspect of the running of a ship has undergone a major overhaul.
BIMCO has enhanced its ship finance term sheet suite by introducing SHIPLEASE, an industry first standard for ship sale and leaseback. SHIPLEASE is an indicative term sheet for use in both operating and finance leases. It has been developed mainly for second-hand ships but can be adapted to fit newbuildings.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.