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The Chinese Ministry of Transport (MOT) has passed a new domestic emission control area regulation from 1 January 2019 in their territorial waters.
The European Commission (EC) has listened and reacted to industry’s concern about adhering to the upcoming deadline on 31 December 2020 for the European Union’s Ship Recycling Regulations (EUSRR) inventory of hazardous materials (IHM) owing to the disruption caused by the Covid-19 pandemic. The new EC guidelines give shipowners a limited but welcome respite by applying a harmonised approach for a period of 6 months after the entry into application of the IHM obligations.
The governing bodies of the International Oil Pollution Compensation (IOPC) Funds met in London from 30 October to 2 November 2017. Donald Chard, consultant to BIMCO, reports from the meeting where BIMCO also introduced the new specialist RESPONSCON agreements.
Work has begun on the revision of BIMCO’s Standard Ship Repair Contract, codenamed REPAIRCON.
The first of a series of free public seminars on the new edition of SUPPLYTIME was held in Rotterdam on 12 October.
Many container operators use charter party trade limits as a sanctions management tool when operating liner services between non-sanctioned countries. To provide an alternative contractual solution and to proactively address the current trend to impose sanctions on the shipping industry, BIMCO is currently developing a sanctions clause specifically designed for time chartering container ships.
The drafting team set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop the recently published gas tanker charter party ASBAGASVOY has drafted a document containing additional clauses for possible use with the new charter.
Since the BIMCO Shipping KPI system was launched in 2011, the system has been based on a rating concept. With the release of BIMCO Shipping KPI version 4 at the end of September, the rating concept will be replaced by a ranking concept as dominant benchmarking concept.
Demand: EIA has revised their oil demand forecast upwards for 2011. Global oil demand in 2011 is now expected to rise by 1.3 million barrels per day (MB/day) to 87.8 MB/day assuming consensus trends in the global economy, crude prices development and possible efficiency gains. Growth will be driven entirely by non-OECD countries (+3.8% or +1.6 MB/day), while the OECD sees resumed decline (-0.5% or -0.2 MB/day). The outlook for 2010 remains unchanged at 86.5 MB/day (+2.1% or +1.8 MB/day versus 2009).
