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The United States (US) government lifted their restrictive policy on crude oil exports in December 2015. In September and October 2017, increased demand from Asia and Europe has caused US seaborne export of crude oil to surpass the US seaborne export of oil products in terms of billion tonne miles.
Capesize: The capesize market witnessed an eventful week. It began energetically in the Pacific, where all three major players actively participated, leading to a positive response to the C5 market.
Deputy Secretary General, Søren Larsen, is expected to relocate to Singapore in the first quarter of 2022 to facilitate BIMCO’s ambition to strengthen support to members and the wider maritime community in the region.
In conjunction with the BIMCO 2023 General Meeting, BIMCO is pleased to host a VIP Industry Reception for invited guests.
Capesize: As China returned from their Lunar New Year holidays there was hope in some quarters that the market would see a recovery from the steep declines of January.
Capesize: The Capesize timecharter average (5TC) lost more than 50% of its value since the middle of last week.