September head-haul volumes fall 15.5% y/y as liner landscape faces change

In September 2022, head-haul and regional export volumes were down 9.3% y/y according to Container Trade Statistics. Head-haul trades fell 15.5% whereas regional trades were down 0.7%. At the same time, volumes were 0.2% lower than in September 2019. The volume decline represented the first month since June 2020 to see lower volumes compared with the same month in 2019 and could be a warning that laid up ships and further freight rate reductions are on the horizon.

September crude oil tanker demolishing hits 39-months high at 1.9m DWT

Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answer is “yes”.

Container market grows a modest 0.2% y/y in 2023 as the fleet swells

In 2023, the container market grew 0.2% year-on-year, ending at 173.8 million TEU. Compared to 2019, before the COVID pandemic hit, the market grew 1.5%. Container market growth has lagged behind overall economic development significantly, as the world economy has grown 10% since 2019.

BIMCO and Global Shippers' Forum launch new standard service level agreement for liner trade – “SERVICECON”

The new agreement is designed to meet the contractual needs of small to medium sized shippers, which, despite the large number and global value of the shipments they transport, often lack the legal resources to develop their own agreements with carriers.

China’s 15m tonnes oil products export quota could boost tonne miles to EU

On 30 September 2022, China added 15 million tonnes to its 2022 export quota for oil products. The quota includes 13.25 million tonnes for gasoline, diesel and jet fuel as well as 1.75 million for low-sulphur marine fuel. If headed for the EU, it could be a welcome addition to the block seeking to replace on average 2 million tonnes of diesel imports from Russia when sanctions take effect from February 2023 and demand for heating increases in the winter months. It could also add some attractive tonne miles for product tankers.

Arrest Clause for Time Charter Parties 2019

Arrest clauses in charter parties are frequently one-sided with charterers having the right to terminate the charter party if the ship is not released within two or three days of an arrest. To provide a fairer allocation of risk and responsibility in the event of ship arrest BIMCO has developed two new standard clauses for time and voyage charter parties. Risk allocation is based on the “sphere of responsibilities” approach taken by the Court of Appeal of England and Wales in the "Global Santosh" judgment . Under this approach, a distinction is drawn between issues such as the management of the ship and its crew, which fall within the owners’ sphere of responsibility, and employment for use of the ship which falls within the charterers’ sphere of responsibility. This clause was published on 14 June 2019.

Brazil kicks of soya bean export season with a 40.1% drop

The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.

Sample copy of Novation Agreement for the Transfer of Ownership

Sample copy of Novation Agreement for the Transfer of Ownership

BIMCO to update SHIPMAN and CREWMAN agreements

BIMCO has taken the decision to revise and update SHIPMAN 2009 and CREWMAN A and B 2009 - the ship management sector's "go to" standard agreements.