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
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 charterers’ uninterrupted use of a ship
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 March 2024. The paper highlights the need to
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 increased the Americas’ share of exports.
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 to support the offshore wind industry
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 market growth has lagged behind overall
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 on ships in the Red Sea
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 like iron ore, coking coal, wood,
