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 supply is set to grow by
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 Somali pirates, security specialists said. Since
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 a two-year review process involving shipowners,
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 51% of the fleet’s capacity expansion. Today,
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 the Red Sea on 6 March
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 for very large crude carriers –
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 distances, create the foundation for the
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 of ships arriving in these ports