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BIMCO seminar seeks to boost international security discussions

28 September 2018

Efforts to reduce piracy in Gulf of Guinea have so far had little effect. The world’s biggest economies are strengthening their military presence in Southeast Asia, and meanwhile, the security situation in the Red Sea off Yemen remain volatile. On 9 October BIMCO will shed light on the international security situation to raise awareness and stimulate discussions.

Dry cargo market report dated 13 October 2023

16 October 2023

Capesize: Closing at $27,591 the Capesize TC average maintained similar levels week-on-week, however large gains were seen on Monday when the spot rate climbed close to $29,000, but neither Atlantic nor Pacific basin was lending much of the support by mid-week.

Chinese crude oil demand needs 45 additional VLCC’s to support growth

31 October 2017

In 2019, global oil demand is forecast to pass the symbolic 100 million barrels per day threshold (International Energy Agency). Developing countries account for almost all of the growth and Asia dominate. BIMCO stated in its forecast for 2017 , that the tanker demand growth for 2017 is expected to come predominantly from the greater Asia region, led by China. China has met expectations by ramping up its import of seaborne crude oil by 13% for the first nine months of 2017 compared to the same period last year. As China is importing crude oil from further afield in 2017 than in 2016, the tonne miles generated has surged 18%.

Dry cargo market report dated 21 October 2022

25 October 2022

Capesize: Week-on-week the average of the weighted 5TC average declined $790, finishing the week at $17,175. The Brazil to Qingdao trade slipped two dollars throughout the week, whilst the West Australia to Qingdao trade remained static in the low/mid $9s.

Dry cargo market report dated 3 December 2021

06 December 2021

Capesize: Both the overall index and timecharter average (5TC) gradually recovered back to the level last seen at the end of October, with BCI and 5TC posting at 4594 and $38,096 by the end of the week. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.

EU clean oil product imports up 18.3% y/y on increased Asian volumes

27 October 2022

Excluding intra-EU trade, the European Union’s average monthly clean oil product imports amounted to 10.0 million tonnes in 2019 but declined to 9.3 million tonnes in 2020 and 2021. Due to the high import volumes in July to October, the 2022 year-to-date average monthly volumes have reached 10.3 million tonnes, exceeding 2019 volumes.