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BIMCO is pleased to confirm the decision taken by the EU Council to formally extend the mandate of the EUNAVFOR Operation ‘ATALANTA’ to deter, disrupt and repress acts of piracy off the coast of Somalia until 31 December 2018.
2018 has been a horrible year for product tanker owners, with sale and leasebacks being necessary for many to provide a financial bridge to better times. Many are pinning their hopes on 2020; which, as we have written in the past is expected to be supportive for product tankers. However, many are also hoping that new refinery developments will offer a further boost to tonne mile demand, similar to what was seen from 2014-2016. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.
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