EU Monitoring process starts 1 January 2018
29 December 2017After a period of preparation of monitoring plans, the EU Monitoring, Reporting and Verifying (EU MRV) regulation starts its first reporting period 1 January 2018.
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After a period of preparation of monitoring plans, the EU Monitoring, Reporting and Verifying (EU MRV) regulation starts its first reporting period 1 January 2018.
Stricter biofouling rules for ship calling New Zealand beginning May 2018. Marine pests and diseases introduced to New Zealand on ship hulls are a potential threat to the marine environment and resources. From May 2018, all commercial and recreational ships arriving in New Zealand will need to have a clean hull.
Some provisional ice forecast conditions for the new winter season 2018-2019 on the Gulf of Finland around areas of St.Petersburg, Ust-Luga and Vyborg/Vysotsk.
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An almost total halt in Panamax demolitions has been an important factor behind this fall, with demolition in every ship segment down.
The BIMCO Standard General Average Absorption Clause, for use in marine insurance policies, was updated in 2017 to give effect to the revised York-Antwerp Rules 2016. Further modifications have now been made to streamline the basis for determining insurers’ payments. Details are set out below together with advice on adapting the clause where the underlying marine insurance policy covers more than one vessel. The 2018 clause should be used in place of the 2017 provision. The original 2002 version of the Clause, based on the York-Antwerp Rules 1994, should no longer be used.
The single sign on feature for the BIMCO Shipping KPI system will be ready shortly. On 26 February 2018, BIMCO will hold a relaunch event for the BIMCO Shipping KPI in Cyprus.
The BIMCO Average Bond Clause 2017 has been updated. The main change is in the final paragraph where the shorter limitation period previously applicable to adjustments arising under the York Antwerp Rules 2004 no longer applies. As a result, in all cases rights to claim under the clause have been brought into line with the six-year limitation period under English law. A number of minor editorial improvements have also been made. The clause is for use only in contracts of carriage where General Average is to be adjusted, stated and settled according to the York-Antwerp Rules 2016. If the York-Antwerp Rules 1994 apply to the underlying contract, the BIMCO Average Bond Clause 2007 must be used. This clause was originally published in June 2005, amended in October 2007, 2017 and 2018.
BIMCO’s Chief Shipping Analyst will be presenting BIMCO’s shipping industry outlook at the INTERCEM Shipping Forum in Athens on 22-23 January 2018 and at Platts 11th Annual European Oil Storage Conference 2018 in Amsterdam on 25– 26 January 2018.
Brazilian soya bean exports are up 85.2% in the first two months of 2019, compared to the same period in 2018. This comes on the back of record high exports in 2018 of 83.6 million tonnes, a 22.7% increase from 2017.