EU tanker import tonne mile demand up 12% as ships avoid Red Sea area : BIMCO
LONDON : “In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for
BIMCO submits paper calling for the IMO to develop a digitalisation strategy
LONDON : The importance of maritime digitalisation has significantly increased over the past few years. As a result, BIMCO has submitted a paper to the International Maritime Organization
Demand shocks drive ship recycling to lowest level in 20 years : BIMCO
COPENHAGEN : “Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. A combination of strong
Red Sea attacks to impact ship sailing speed: BIMCO
LONDON : BALTIC and International Maritime Council’s (BIMCO) latest report on the container shipping market highlights significant trends amid ongoing challenges due to the Red Sea attacks. Ship
Houthis could partner with Iran, Somali pirates on Indian Ocean attacks
LONDON : Yemen-based Houthi militants could keep the promise to extend their attacks to merchant ships in the Indian Ocean, potentially with drones and assisted by Iran and
BIMCO adopts SHIPMAN 2024
LONDON : The updated version of SHIPMAN, BIMCO’s widely used ship management agreement, was adopted by the Documentary Committee at its meeting on 22 March in Hamburg after
Ships above 12,000 TEU drive 100% increase in average ship size : BIMCO
LONDON : “Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for
Industry Association condemn Houthi attack on MV True Confidence
LONDON : Industry Associations express their deep concern over the tragic loss of life and injuries suffered by the crew of MV True Confidence in an attack in
Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace : BIMCO
LONDON : “In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders
BIMCO : Tanker Market strengthens despite slowing oil demand growth
LONDON : Supply/demand balance For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing