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BIMCO, INTERCARGO and INTERTANKO welcome the ruling by the highest court in the United States on 30 March 2020 concluding that the plain meaning of the safe-berth clause in the Athos I dispute includes an unambiguous warranty of safety.
At 00:01 UTC on 1 January 2023, the Indian Ocean High Risk Area (HRA) for piracy will be removed. The removal of the HRA reflects a significantly improved piracy situation in the region, but voyage preparation, threat and risk assessment are essential when following Best Management Practice 5 (BMP5).
Overall Asian exports look weak for the moment, as consumers hold back across the board.
The arrival of January also meant that Capesize freight rates once again touched the ground following three extraordinary months of flying high. Q4-2013 represents the strongest quarter in demand ever, and the seasonal weakness of Q1 simply had to affect the level of freight rates negatively.
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