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Though much uncertainty remains, the immediate commodity price increases and supply challenges caused by Russia’s invasion of Ukraine are likely to be felt throughout 2022. Also, recently implemented sanctions on Russia are not likely to be lifted any time soon. This may have sustained spill-over impact on the global economy.
Voyage charters are not regulated by compulsory international conventions. This course highlights problem areas, presents ways for parties to allocate risks and gives an overview of the relevant legal principles.
Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared.
Global recovery advances but remains uneven, with two main tracks. In advanced economies, activity has tempered less than expected, but growth remains
Iron ore fines, if not carried safely under the requirements of the International Maritime Solid Bulk Cargoes ( IMSBC) Code, can be extremely problematic due to its liquefaction tendencies and can risk stability to ship and safety of crew.
BIMCO and Safety at Sea will be hosting an engaging and informative webinar on 11 August that will include the results of their Maritime Cyber Security survey to inform briefings and discussions among maritime experts.
The Asian gypsy moth season is here again. A reminder to all members calling at areas considered AGM high risk to be aware of the AGM requirements issued by various governments to prevent entry of AGM into their countries. ** ASIAN GYPSY MOTH IS NOW KNOWN AS FLIGHTED SPONGY MOTH COMPLEX ** Not all countries have introduced the new name yet, but BIMCO has decided to standardise on Flighted Spongy Moth Complex, abbreviated to FSMC.
Russia’s announcement that it will close access to the Kerch Strait which connect the Black Sea and the Sea of Azov has triggered a reaction within the London insurance market.
