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The global XSI® rose again in July to 453.2 points, yet another month in which the XSI® has set a new record. This was up by 4.1% from July 2022 and 121.2% from August 2021. The monthly containership report discusses recent containership freight rate movements and market developments. Brought to you by Xeneta.
President Alberto Fernández recently pledged that Argentina would seize the opportunity to help meet global wheat demand while taking advantage of the high prices following Russia’s invasion of Ukraine. A poor harvest, however, could change the picture.
The global XSI rose by an additional 11.1% in April to 294.44 points. This represents the third consecutive month-on-month increase after a temporary decline reported at the start of 2022. The monthly containership report discusses recent containership freight rate movements and market developments. Brought to you by Xeneta.
The Charter Party Guarantee 2022 is a time charterers’ guarantee for all sums payable and liabilities under a time charter party. The latest edition of this contract is the Charter Party Guarantee, issued in 2022. It revises the 2012 version of the Guarantee. BIMCO recommends that the Owners request the Guarantor to deliver to the Owner a legal opinion from a lawyer qualified in the place of incorporation of the Guarantor confirming that the Guarantor has the necessary power and has taken all necessary corporate actions and obtained all necessary approvals (including exchange control approvals) to perform its obligations under this Guarantee. Copyright in the Charter Party Guarantee 2022 is held by BIMCO. BIMCO would like to thank the drafting committee for their commitment to the project and their considerable time and efforts in producing the Charter Party Guarantee: Ian Gaunt, Arbitrator (chairperson) Charlotte Grandjean, CMA-CGM Ralf van der Zalm, Anthony Veder Chartering B.V. Peter Eckhardt, Martini Chartering Suzanne Byrne, West Richard Lord KC, Brick Court Chambers The following explanatory notes are intended to explain the drafting team’s thinking behind some of the key clauses. This document is intended as a living document and will be expanded/adjusted based on relevant questions from users of the Guarantee.
With the onslaught of the COVID-19 pandemic that started in 2020 , it has inevitably brought about all possible delays and impact ed every sector of the shipping industry. Perhaps it was a blessing in disguise as the Maritime Labour Convention’s amendments were timely to take into account the experiences which the shipping industry has had in particular with seafarers . BIMCO sees th is as a major step to improving the protection of seafarers especially for cases where they have been abandoned or are in need of medical assistance or basic entitlement to internet access on board ships as well at ports.
This BIMCO COVID 19 weekly report for the week ending 11 February covers the International Maritime Organization (IMO), Argentina, Canada, Cuba, Israel, Maldives, NAMMA and the latest from the World Health Organization (WHO). Every week, BIMCO summarises measures imposed by governments for sea transport, including for crew change, as well as updates from United Nations bodies such as the IMO, WHO and International Labour Organization (ILO).
Weak economic activity, a 10.5% increase in domestic coal mining, and a recovery in coal imports from Mongolia via rail alleviated coal shipments to China in 2022.
Activity in the newbuilding market resumed last week, with a plethora of deals coming to light. For yet another week, we witnessed plenty of container newbuilding deals surfacing in the market, however, what caught our attention was the volume of dry bulk contracts; sixteen Ultramax vessels were inked, with ten of them being ordered from Chinese CITIC Group at DSIC yard.
The newbuilding front was monopolized by container deals for another week with neo panamax sizes having the lion's share followed by four 2,800teu feeder boxhips. More specifically, French owner CMA CGM ordered four 7,700teu units at Samsung for a price of $123,3 million each.
