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BIMCO has been busy updating BARGEHIRE 2008 and the project is close to completion. But before we finalise and publish the new edition in March, we would like to hear the views of barge owners, operators and charterers. Your comments and views received by 13 January 2021 will help shape a successful new BARGEHIRE. You can get a copy of the consultation draft from this news piece or by contacting contracts@bimco.org.
All stakeholders in shipping realize that the business is cyclical, and the most important challenge is to predict the ups and downs and plan accordingly. But few had in their wildest fantasies predicted the financial crisis that hit the world four years ago, and the significant drop in cargo volumes and the major impact this had on all shipping markets.
The container ship orderbook hit a post-financial crisis low just below 2m TEU in October 2020. In the eighteen months since then, liner operators have seen record profits and a large percentage of these have been poured into newbuilding contracts.
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