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Tanker market report dated 7 December 2018

10 December 2018

Canada’s benchmark heavy crude, Western Canadian Select (WCS), has seen its price slowly slide since mid-2018, trading at a record discount to WTI of over $50 bbl during October. A supply glut has seen prices continually dip, but the grade may finally be set for a reprieve after the Premier of the oil-rich Alberta region mandated a production cut of almost 9%, or approximately 325 000 b/d, in a bid to lift prices and deal with an oversupply. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

What are Customs Co-operation Agreements (CCAs)?

17 October 2013

For the benefit of its members, BIMCO has made a series of agreements with 15 national customs authorities (Belgium, Canada, Cyprus, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Sweden, the United Kingdom and the United States)- Customs Co-operation Agreements (CCAs)- as a means of mitigating delays and costs resulting from the discovery of drugs aboard a member vessel.

Caution required when using nautical charts of Arctic waters

26 July 2017

Due to the significant limitations of Arctic charting, all mariners in Arctic waters are required to plan any prospective voyages well in advance to understand their environment, and to exercise extreme caution when on the water, in order to minimise the associated high levels of risk. Caution is equally essential when navigating with Electronic Navigational Charts (ENC), as these official digital charts are based on the same limited or insufficient data as the official paper or electronic equivalent charts.