Cargo volumes in Red Sea area drop 21% due to attacks on ships : BIMCO
LONDON : “During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number
BIMCO publishes ship financing forms to ensure uninterrupted use of ships
LONDON : BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the
BIMCO calls on IMO to solve legal inconsistencies in ship recycling conventions
LONDON : BIMCO, together with Bangladesh, India, Norway, Pakistan and the ICS, has submitted a paper ahead of the 81st Marine Environment Protection Committee (MEPC) meeting on 18-22
Oil production and Chinese buying boost Brazil’s crude tanker exports 19%
LONDON : “The reshaping of global crude tanker markets continued in 2023. In 2022, sanctions shifted Russia’s exports from Europe to Asia while OPEC production cuts in 2023
BIMCO starts work on contract for growing wind turbine market
LONDON : BIMCO has established a subcommittee to work on a global standard contract for the transport and installation of offshore wind turbines. The project has been launched
Shipping Number of the Week : Container market grows a modest 0.2% y/y in 2023 as the fleet swells
LONDON : “In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%. Container
WSC, BIMCO and ICS issue joint statement on joint international statement on Red Sea attacks
LONDON : The World Shipping Council, the International Chamber of Shipping and BIMCO expressed their thanks to the 12 nations that have jointly condemned the ongoing illegal attacks
Dry bulk watches Evergrande liquidation after 16.5% drop in real estate investment : BIMCO
LONDON : “China’s property market is estimated to account for approximately 35% of the country’s steel demand. It is an important driver for economic growth and raw materials
Product tanker recycling drops 82% year-on-year to lowest on record
LONDON : “In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5
Record deliveries could push container fleet above 30 million TEU in 2024
LONDON : “In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEU, beating the previous record from 2015 when 1.7 million TEU