24 November 2020
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.
30 April 2020
Converted Very Large Ore Carriers (VLOC) are increasingly becoming a thing of the past with the long-term freight contracts coming to an end as newer and more reliable ships replace them in the market.
19 December 2019
BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.
13 November 2019
As a result of a rising number of shipments of industrial raw materials such as bauxite, coal and iron ore being transported under COAs, BIMCO is working on a new standard form of contract of affreightment (COA).
16 October 2019
BIMCO is merging its sanctions and designated entities charter party clauses, following revisions by a specialist subcommittee, to create a more robust contractual solution for sanctioning.
05 August 2019
The recent seizures of an Iraqi oil tanker and a UK flagged ship by Iranian authorities have further increased tensions in the Gulf following earlier attacks on tankers in Fujairah and the Gulf of Oman. But what are the contractual implications for ships operating in the area?
21 June 2019
As a result of increasing tension in the Persian Gulf area following recent attacks on two tankers, War Risk underwriters are charging additional premiums (AP) for calls to the Arabian Gulf/Gulf of Oman. Some underwriters are charging a flat rate for all tonnage operating in the area, while others are differentiating based on the type of tonnage, flag and port of call. AP is typically charged as a percentage of the hull value. Underwriters day top value is at present 1%.
14 March 2019
BIMCO has hosted a panel session on arbitration in Shanghai to discuss current issues such as the future of arbitration centres, the impact of BREXIT, the impact from the emergence of China as a leading shipping nation and much more.
20 February 2018
The fleet is growing at the slowest pace since 1999, and solid growth in demand means that the dry bulk shipping industry should be facing another year of improvement to the fundamental balance.
10 November 2017