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BIMCO COVID 19 weekly report

09 April 2021

The BIMCO Maritime Information department informs members on a weekly basis, updates about the COVID-19 in relation to implementation measures imposed by governments for sea transport including for crew change as well as from the United Nation bodies like the International Maritime Organization (IMO), World Health Organization (WHO) and International Labour Organization (ILO). BIMCO provides the following update for this week ending Friday, 9 April 2021

Tanker market report dated 26 June 2020

29 June 2020

In early June the US Treasury department added several tankers to its Venezuela sanctions lists for allegedly lifting oil from the country between mid-February and late April this year. It does appear, however, that sanctions were applied only to the vessels in question, with limited broader legal exposure. Weekly tanker market report by Gibson Shipbrokers.

COVID-19 Extension on crew certificates

05 August 2021

Providing members with the latest information on extensions to crew certificates by various states in the wake of the Coronavirus (COVID-19) outbreak. The page might be updated several times per day, so please check back for the most recent information.

Tanker shipping: sky-high freight rates have given way to a profitable winter market supported by the fast-approaching IMO 2020 Sulphur Cap

25 November 2019

BIMCO expects freight rates will once again come under pressure after the end of the high seasonal demand in Q4, as well as the boost from the sulphur cap. The fleet growth of 6.3% in the crude oil tanker market and the 4.8% growth in the oil product fleet will have its consequences on the supply and demand balance.

Tanker market report dated 23 August 2019

26 August 2019

In January 2019 the Trump administration announced tough sanctions against PDVSA, designed to halt US imports of Venezuelan crude. The US government also blocked access to its financial system for PDVSA transactions. Overall, sanctions have had the desired effect. Crude trade to US refineries came to a halt since February, down from approximately 0.5 million b/d in 2018. US also stopped exporting clean petroleum products (CPP) to Venezuela, most notably naphtha, used to dilute extra heavy grades to make synthetic crude for exports. Venezuela was largely unable to find a replacement for US clean products, with the volume of CPP imports into the country down by more than 50% compared to levels in 2018. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 9 August 2019

13 August 2019

There may be few new frontiers left in the oil market, with most regions having been tested, even if deemed to be uneconomical in the current oil era. However, from next year there will be a new kid on the block - Guyana. Throughout history, Guyana has hardly made it onto the tanker map. Despite sharing a boarder with Venezuela to the north and Brazil to the south, the country has never produced oil on a commercial scale. Even from a demand perspective, the country imports only minimal volumes of refined products and has no domestic refining capacity.  The weekly tanker market report by Gibson Shipbrokers.