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Navigating the waters of Straits of Malacca and Singapore and associated waters, is not always straightforward and members need to be aware of certain legal risks that exists in these waters.
The waters in and around the Straits of Malacca and Singapore can pose various risks to ships, one of which is conducting activities outside designated areas, if the ship is not simply transiting continuously and expeditiously.
Efforts to reduce piracy in Gulf of Guinea have so far had little effect. The world’s biggest economies are strengthening their military presence in Southeast Asia, and meanwhile, the security situation in the Red Sea off Yemen remain volatile. On 9 October BIMCO will shed light on the international security situation to raise awareness and stimulate discussions.
Floating storage is coming down on the narrowing of market contango, but persists in playing an important part in tanker demand
