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BIMCO’s Chief Shipping Analyst Peter Sand, will be speaking at the Bloomberg Intelligence (BI) Webinar on 23 May 2017 at 10:30 (15:30 GMT).
The shipping market and underlying profitability can only improve if the fundamental conditions (supply and demand) also improve. Therefore transportation of larger volumes, longer sailing distances in general or a lower increase of dry-bulk fleet size is a prerequisite for better markets to arrive.
The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.
This guideline follows on from the CIMAC WG7 guideline No 09:2014 which set out the differences between the ISO 4259 approach and that adopted under MARPOL Annex VI in respect of fuel sulphur content test results. However, it is important to understand that this ISO 4259 approach is also applied generally to the interpretation of all marine fuel analysis test results.
The new BIMCO magazine the “Bulletin” is out with articles covering the effect of the US-China trade war, the 2020 sulphur limit and the challenges of ship recycling and ballast water management. “The shipping industry is taking major steps and making huge investments to be ready for (2020) compliance. It is only fair that the nation states party to Annex VI of the MARPOL Convention live up to their end of the agreement,” BIMCO’s Secretary General, Angus Frew, points out in his foreword. Also, read the latest market analysis by Peter Sand and read why now is the wrong time to do business as usual as the trade war rages on.
BIMCO will offer market insights at the inaugural Capital Link Hong Kong Maritime forum and at the Asian Logistics and Maritime conference.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
Capesize: The surge in Capesize rates abruptly flattened off this week as global markets continue to be highly volatile.
Capesize: The Capesize market appeared to get caught up in the wider market rallies this week as geopolitical tensions run high, with the 5TC lifting $8635 over the week to settle at $22,195.
Read the latest digest of maritime security incidents and the weather forecast for piracy threat areas for the week to come.
