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Together with EU countries and industry organisations – BIMCO has co-sponsored a revision on the guidelines on place of refuge for ships in need of assistance to include, among other things, guidelines for situations with more than one nation-state and recommendations for designation of a national competent authority.
At the most recent International Oil Pollution Compensation (IOPC) Funds meeting in London, Ban Ki-moon, former United Nations Secretary-General, spoke to representatives, IMO staff and the Funds’ Secretariat about the value of shipping to international trade, climate change and encouraging and empowering women to play a greater role in shipping.
The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.
BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.
BIMCO will offer market insights at the inaugural Capital Link Hong Kong Maritime forum and at the Asian Logistics and Maritime conference.
Delivered tonnage of crude oil tankers have grown by +37%, whereas total fleet demolitions for 2019 have slumped to the lowest in a decade with a reduction of 52% from the year before.
BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking and providing the audience with unique insights on the container market at the European Shipping Seminar on 27 November 2019 in Athens, Greece.
BIMCO has developed a monitoring service for bunker prices, with data provided by MABUX, which is now available to all BIMCO members here.