With effect from 1 March 2018, MARPOL Annex V and the related guidelines were amended to effect changes relating to substances that are harmful to the marine environment and form of garbage record book.
Despite China’s strategy of pursuing increased domestic coal production, which has meant that year-to-date production stands 5.8% higher than last year, its seaborne imports of coal have nevertheless surged 73% y/y so far.
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
Obligaciones sometidas a la “debida diligencia” y una perspectiva desde el derecho civil La buena fe y su importancia práctica en el contexto del contrato Fuerza mayor y algunas diferencias
Container volumes in head-haul and regional trades are the key drivers of container vessel demand, average container rates, liner operator profits, and, since 2020, port congestion. According to Container Trade Statistics, combined head-haul and regional trade volumes fell 0.4% y/y in the first half of 2022. Head-haul volumes were 1.3% lower than a year ago while regional volumes were 0.6% higher. Under normal market circumstances the peak season in key head-haul trades should lift Q3 volumes. However, recently released volume statistics indicate that there may be no peak season in 2022 but it is very likely that volumes will slow in Q4.
During the first nine months of 2023, coal shipments to the world’s second largest importer of seaborne coal, India, fell 9% y/y. A 12% y/y rise in domestic coal mining replaced imports and electricity production continued to rise despite lower production from hydro power.
Having narrowly avoided a recession in the fourth quarter of 2022, the Japanese economy appears to be recovering. However, Japan’s demand for steel remains weak and as a result, the country’s bulk imports are estimated to have fallen by 4% y/y in the first quarter of 2023.