Crude oil tanker earnings have since records began, never been this bad. Earnings for VLCCs in the first half of 2018 were as low as USD 6,001 per day on average.
On electronic exchange of information from ships to the relevant onshore parties when approaching a port, will require public authorities to have systems in place to assist ship clearance processes.
At the 42nd session of the IMO’s Facilitation Committee in London on June 5-8th, BIMCO has backed a request made by MACN for the IMO and member States to fully recognise the scale of maritime corruption and to take a stand against this type of crime.
Global Shipowners’ Meeting reaffirms commitment to the Hong Kong Convention and the need for a global solution for environmentally sustainable ship recycling.
The trader representatives who helped draft the contract together account for 25% of the total bunker volume sold globally and the BIMCO Bunker Terms 2018 also has the support of IBIA – the International Bunker Industry Association.
BIMCO’s Documentary Committee is expected to adopt a new version of the standard contract Bunker Terms in New York on May 2. The Bunker Terms 2018 have been drafted by representatives from across the bunker industry.
BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet.
The first quarter of any year always represents a challenge for the shipping industry, with fewer cargoes being tendered and Chinese New Year in February creating recurring business issues.
Having experienced falling freight rates from August to year-end in 2017, most liner companies were successful in pushing rates higher in early January 2018.