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Tanker contracting only 1.6m DWT in first half of 2022: lowest half year on record

21 July 2022

Between 1996 and 2021, the lowest half-yearly tanker contracting volume was 3.0m DWT, recorded in the first half of 1999. Despite improved freight rates and a more positive market outlook, the first six months of 2022 ended with barely more than half that volume: only 1.6m DWT was contracted. Consequently, the order book to fleet ratio has fallen to 5.1% for both crude and product tankers, a ratio which is also the lowest since 1996.

FIT Alliance and developments towards a universal electronic Bill of Lading

02 November 2023

On 5 September, 2023 the FIT Alliance, consisting of five founding members who work together to generate awareness about the benefits of going digital and the importance of common and interoperable data standards and common legislative conditions, introduced the eBL Declaration, aiming to encourage the widespread adoption of electronic bills of lading (eBL). Currently, nearly 100 organisations, encompassing carriers, shippers, freight forwarders, banks and technology providers, have signed up. In a virtual meeting with Gaftaworld, BIMCO, represented by Mads Wacher Kjærgaard (Manager, Standards, Innovation & Research) and the ICC Digital Standards Initiative (DSI), represented by Hannah Nguyen (Director - Digital Ecosystems), explored the transformative potential of this global movement and how Gafta members could actively participate.