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BIMCO's position has been approved by the BIMCO Board of Directors.
Marie Münster, Professor of Management Engineering at DTU (Technical University of Denmark), presented the main findings of the MarE-Fuel project, where a number of scenarios were analysed. She also looks ahead to upcoming research.
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs will be reduced by as much as USD 1 million a year if current price levels stay put.
New criteria for tracking and monitoring equipment used in transport of dangerous goods under the International Maritime Dangerous Goods ( IMDG) Code were finalised at the International Maritime Organization (IMO)'s Sub-Committee for the Carriage of Cargoes and Containers (CCC) at their 8th meeting held from 14 to 23 September 2022. A transitional phase for implementation was also introduced.
BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.
Russian seaborne crude oil export volumes have remained strong and grew 13% y/y in 2022 despite the invasion of Ukraine. However, after a 4% m/m fall in June, volumes fell another 16% m/m in July, and the Russian administration has announced export cuts for August.
Latest version of this clause is the 2020 Marine Fuel Sulphur Content Clause for Time Charter Parties .
Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared.
