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A greater focus in the bunker industry on contract wording, risk assessment and “knowing your counterpart” has been a motivator for updating the BIMCO Terms bunker contract, due for release in November 2017.
The United States Office of Foreign Assets Control (OFAC) has expanded sanctions against Iran and issued an advisory to the shipping community.
The economic news from China this morning was somewhat comforting, but highlights the fact that economic activity in the world’s largest economy is certainly slowing down.
It is estimated that 4 billion trade documents are in circulation around the world at any given time, increasing costs, delays and risk of errors. To fuel a transition away from paper-based trade, four of the world’s largest mining companies; Anglo American, BHP, Rio Tinto and Vale have published a position paper, together with BIMCO, that proposes solutions and aims to accelerate the adoption of digital technologies across the metals and mining supply chain.
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