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The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.
BIMCO has developed four annexes for specialised tasks not covered under the SUPPLYTIME charter party.
The three best performing dry bulk terminals in the world are Santander and Bilbao in Spain and Quebec in Canada, according to BIMCO’s 2017 Dry Bulk Terminals Vetting Report.
I t is time to replace software on ECDIS systems on board because by 31 August 2017, the new Electronic Chart Display and Information System (ECDIS) software will make the previous versions redundant.
BIMCO receives a monthly update from the Chamber of Shipping of America (CSA) advising BIMCO of the latest legislative developments affecting international shipping in the US. BIMCO produces a brief based on CSA’s January update so members can have a quick update. The full CSA report is also provided.
Venezuela’s Challenges: The decline in Venezuelan crude trade to the US is one of the biggest consequences of the economic and political problems faced by the country. Between January and August 2017, crude shipments to the US averaged 0.69 million b/d, down by 175,000 b/d compared to the same period in 2015. The weekly tanker market report by Gibson Shipbrokers.
Two new contracts will be presented for review at the next Documentary Committee meeting on 6 June 2017 in Rome.
Following a seasonal surge in December 2017, the US seaborne export of oil products (materials derived from crude oil) reached the highest annual level ever, in terms of volume and tonne miles demand. An increase in volume, combined with a marginal increase in the average sailing distance, caused the total annual tonne miles demand to surpass the previous high set in 2013.
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