06 April 2021
Although the container ship “Ever Given” was fortunately freed after less than a week blocking the Suez Canal, the consequences for owners and operators due to the delays caused may last for several weeks or even months.
29 March 2021
Since Tuesday, the closure of the Suez Canal has dominated mainstream media headlines around the world.
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
26 March 2021
The ongoing blockage of the Suez Canal has resulted in ships diverting south to transit around the Cape of Good Hope, potentially taking them through the High Risk Area. It is noted that whilst the threat of Somalia-based piracy is currently suppressed through a combination of military operations, application of BMP 5 and the presence of armed guards, an increase in maritime traffic through the area may present opportunities for Somali Pirate Groups to attack shipping. The consequences of not adopting effective security measures can be severe.
16 June 2020
Transits through the Suez Canal, the beating heart of the Egyptian economy, have stayed remarkably resilient to the fallout of the Covid-19 pandemic if judging by total transits of the three commercial shipping sectors which are up 8% year-on-year.
29 May 2020
Typically owners receive invoices for relatively small amounts by physical mail for example for alleged sludge removal, waste and other services, which usually were not asked for or used by the ships named on the invoices.
26 May 2020
The Covid-19 crisis has – and will continue to – hit the container shipping market hard, and the current economic situation provides no hope for a short-term recovery.
07 May 2020
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.
04 May 2020
Despite lower volumes being fixed in the spot market, it is key to tracking developments in the container shipping market, as it quickly responds to the changing situation and adjustments to demand and supply.
28 January 2020
At the end of 2019, the Suez Canal Authority issued a circular (no. 8/2019) related to the IMO 2020 sulphur regulation, in which it also placed a ban on the discharge of wash water from open-loop scrubbers while transiting the Canal.
12 October 2017
BIMCO has received numerous questions related to the costs of “sea trials” in the Suez Canal – mainly creating disputes for ships transiting for the first time.