21 January 2020
After the killing of General Qassem Soleimani by a US drone in early January 2020, and the following retaliation by Iran, BIMCO is publishing its view of the escalated tension in the Persian Gulf, as well as advice regarding the new sanctions clauses, and encourages owners, operators and charterers to follow the operational and contractual guidance set out in this article.
17 September 2019
Even with the sulphur cap expected to give a boost to the tanker market, high fleet growth will put pressure on earnings.
29 August 2019
Join BIMCO's Jakob Larsen, INTERTANKO's Philip Belcher, UK Chamber of Shipping's David Balston, and Tatham Law's Stephen Askins for a candid discussion and clear advice on present and future tanker safety, security and commercial issues in the Straits of Hormuz and Gulf of Oman.
05 August 2019
The recent seizures of an Iraqi oil tanker and a UK flagged ship by Iranian authorities have further increased tensions in the Gulf following earlier attacks on tankers in Fujairah and the Gulf of Oman. But what are the contractual implications for ships operating in the area?
29 July 2019
During the first week of July, the well documented arrest of the 300,000 dwt ‘Grace 1’ by the British government caused tensions to spike between Iran and the West. Iranian retaliations to arrest a British flagged vessel, the Stena Impero, in the Straits of Hormuz have seen numerous statements calling for calm amidst the mayhem of political games. The current state of affairs has sparked tales of the Suez Crisis and the Gulf War, so why has there been minimal impact on freight rates and crude prices?
The weekly tanker market report by Gibson Shipbrokers.
22 July 2019
Update on reporting guidance for vessels transiting the Arabian Gulf, the Strait of Hormuz and Gulf of Oman. Published Sunday 21 July. Republished Monday 22 July to notify subscribers.
04 July 2019
23 June 2019
21 June 2019
VLCC spot freight rates between the Arabian Gulf and China rose 101% in the days between 13 June 2019 and 20 June 2019, in the aftermath of attacks on two tankers in the Strait of Hormuz.
13 June 2019
BIMCO is urging nations to defuse tension and work together through diplomatic efforts following new attacks on two tankers at the Strait of Hormuz on 13 June.