International shipping association BIMCO has developed two new bunker clauses dealing with general compliance and the transitional period for the International Maritime Organization's 2020 MARPOL requirements for the maximum sulphur content in marine fuel. In addition to its other duties, BIMCO is leading provider of maritime clauses and contracts covering the full lifecycle … [Read more...]
BIMCO’s First 2020 Bunker Clause Fast-Tracked for October
International shipping association BIMCO is fast-tracking the publishing of its first clause related to the International Maritime Organization's 2020 sulphur emission rules. BIMCO will produce several clauses dealing with specific issues relating to IMO 2020, which sets a new limit for the amount of sulphur in fuel oil of 0.5% for ships operating outside designated emission … [Read more...]
BIMCO: US-China Trade War is All About the Eastbound Transpacific Trade Lane
When two of the world’s top trading partners, get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, we’d better prepare for what may come. While hoping that it will never take place. (BIMCO) - The US is China’s largest trading partner measured by value – and China is the largest one-country trading partner … [Read more...]
New General Agency Agreement Aims to Reduce Shipping Disputes
By Mike Wackett (The Loadstar) - A new draft standard general agency agreement, covering a comprehensive list of functions contracted between shipowners and operators and ship agency firms, has been launched. Created by the international shipping association, BIMCO, and FONASBA, the organisation representing shipbrokers and ship agents around the world, it has been … [Read more...]
BIMCO: Record High Crude Oil Tanker Deliveries Add Instant Freight Rate Pressure
January 2017 already accounts for 22% of the crude oil tankers previous year’s total deliveries, due to tremendous VLCC delivery growth. (BIMCO) - On an unprecedented scale, 5.5m DWT of crude oil tanker capacity (up 220% from January 2016), has already been delivered in 2017(according to preliminary data from VesselsValue.com). January 2017 accounts for 22% of the crude … [Read more...]