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There is money to be made by both carriers and tonnage providers as volumes defy usual seasonality and remain strong into the fourth quarter of the year. On top of that, low bunker prices –, one of the keys to high profitability this year – look set to stick around.
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-even point, though not high enough to make up for losses made during the first part of the year.
Bulkers continue to dominate the SnP market with the Kamsarmax and Supramax sectors gathering most of the interest. Action on the Tanker SnP front has slowed down last week. The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers.
The International Maritime Organization (IMO) will be discussing changes to the MARPOL Annex VI regulations on how Port State Control (PSC) can draw fuel oil samples on board, when meeting at the 75 session of the Marine Environment Protection Committee (MEPC 75) on 16 to 20 November 2020. Some of the new suggestions are a cause for concern, BIMCO believes.
In the coming months, BIMCO’s Chief Shipping Analyst, Peter Sand, will participate in BIMCO’s very own webinar series: The Shipping Markets Checkpoint: threats and opportunities in a COVID-19 world, as well as numerous insightful virtual conferences focusing on the commercial shipping markets.
This eBook includes a sample copy of the BIMCO Bunker Terms 2018 contract and the related explanatory notes in the latest version.