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Container ships have reached their highest average age yet at 14.2 years, the highest average age of the three main shipping sectors. The dry bulk fleet has an average age of 11.9 years whereas tankers on average are 12.8 years old.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
China’s crude oil imports have doubled from 2011 to 2021 and now account for 20% of global seaborne crude oil volumes.
On 22 July, Russia and Ukraine signed an agreement with Turkey and the United Nations to allow grain exports from three ports in western Ukraine: Yuzhne, Chornomorsk, and Odesa. Combined, the three ports accounted for 65% of the country’s total grain exports over the past five years. Exports could, however, face several difficulties.
The different types of training at BIMCO Choose the way you want to learn about commercial shipping and maritime law.
BIMCO’s approval body for contracts and clauses will meet online on 23 February. The development of a series of carbon clauses is high on the Committee’s agenda. An Emissions Trading System Allowances (ETSA) Clause for time charters is up for adoption and the Committee will also be asked to review a first draft of a CII Compliance Clause. Both clauses follow hard on the heels of the EEXI Transition Clause published in December last year as part of BIMCO’s prioritised roll-out of carbon-related clauses for the industry.
The Chinese manufacturing sector is set to contract in December, breaking the six-month expansion streak that has been going since April. The HSBC flash PMI (Purchasing Manager Index) compiled by Markit dropped to 49.5, down from 50.0 in November.
Houthi attacks on ships in the Red Sea, coupled with a rise in piracy off the coast of Somalia, are disrupting global trade. In 2023 an estimated 13% of global seaborne trade transited through these areas. However, the attacks have reduced the number of ships transiting the area by 50%.
The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships owned by Greek and Chinese shipping companies contribute 34% of the total fleet’s deadweight tonne capacity.
The shipping number of the week provides members with a brief analysis of relevant developments in the shipping markets.
