Shipping Industry faces one of Its greatest challenges : Drewry
LONDON : The shipping industry is contending with a worldwide shortage of seafarers, and it’s fueling a troubling mix of fake resumes, accidents at sea, and elevated freight rates. “We have been seeing a
BDI still down 10% despite recovery in capesize demand : BIMCO
LONDON : “The Baltic Dry Index (BDI) has recovered since the start of November due to stronger capesize freight rates, but the index is still down 10% y/y. The capesize market has benefited from
KYC more important than ever in shipping
LONDON : The recent political shift in the US has brought renewed focus on the evolving sanctions landscape, particularly for the maritime industry. The increasing complexity of compliance requirements, the challenges faced by industry
BIMCO launches Ship Recycling Alliance to help fuel change
LONDON : BIMCO has launched a Ship Recycling Alliance to help accelerate safe and environmentally sound recycling of ships. The alliance will co-ordinate the voices of the ship recycling industry and the shipping industry
Container ship deliveries hit new record of 2.5 million TEU : BIMCO
LONDON : Just ten months into 2024, shipyards’ deliveries of container ships have reached a new annual record. A total of 410 ships with a capacity of 2.5m TEU have been delivered, surpassing the
Attacks on ships in Ukraine threaten 1% of dry bulk market : BIMCO
LONDON : “Since September 2024, five merchant ships have been hit by Russian missiles while in Ukrainian ports or waters. These were the first attacks on merchant ships since November 2023 and they could
Jet fuel shipments up 11% as airline traffic now exceeds pre-COVID levels
LONDON : During the first nine months of 2024, seaborne shipments of jet fuel increased 11% over 2023. Shipments were equivalent to 461 million barrels or 1.7 million barrels per day (mbpd). At the
BIMCO approves first management agreement for autonomous ships
LONDON : BIMCO’s Documentary Committee has adopted the AUTOSHIPMAN agreement in response to a growing number of remotely controlled ships. The AUTOSHIPMAN agreement provides a standard contractual foundation for third-party ship managers to deliver
