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BIMCO is an international association organising training courses, seminars, subcommittee meetings, working groups, etc. worldwide. As a consequence of the current spread of Coronavirus, BIMCO has decided that no BIMCO staff can travel to the Far East until further notice.
In an effort to ascertain the possible far reaching consequences of the influx of new giant containerships on order
Towards the end of 2011, we got the first indication that liner companies were winning “the pricing battle” against shippers on the level of freight rates on the main lanes from Far East to Europe and the Mediterranean.
Update to the maritime security situation in the waters off East Sabah and Southern Philippines, in particular, the Sibutu Passage.
In the past three months, time charter rates have hovered around the same levels, providing owners with a steady market despite the downward shift in spot freight rates. Summer demand should determine the next turning point, with initial indicators suggesting weaker East/West volumes, but stronger North/South trade. Moreover, increased flows on the Middle East and intra-Asia trades should drive rates for small containerships higher, as idle capacity is now removed and orderbook in this segment is low.
The shipping number of the week provides members with a brief analysis of relevant developments in the shipping markets.