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Global demolition activity rose in the first nine months of 2016 in comparison to the same period of 2015, by 16%. Showcasing shipping industry action, to counter the imbalance between supply and demand in the market.
This BIMCO COVID 19 weekly report for the week ending 15 July 2022 covers the International Maritime Organization (IMO) including crew change national contact point, Argentina, Ukraine and the latest from the World Health Organization (WHO) and the International Labour Organization (ILO). Every week, BIMCO summarises measures imposed by governments for sea transport, including for crew change, as well as updates from United Nations bodies such as the IMO, WHO, ILO and the Port State Control MoU regimes.
The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions. 2016 has shown no improvements so far and prospects for the rest of the year are not looking promising. With poor earnings across the board the average scrapping age has dropped among all the dry bulk segments.
Congestion for ships loading grain cargoes at Brazilian ports has surged this year due to large harvests and low water levels in the Amazon River. Between January and November, the average waiting time reached 15 days, up from nine days average between 2018 and 2022 and well above the global average of five days for grain loadings in 2023.
BARECON 2001 is being updated to reflect changes in commercial practice and legal development in the 15 years since it was published. At a meeting held at BIMCO House on 29 September the focus of the revision team was the hire and termination provisions.
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