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Demolition report dated 27 December 2019

14 January 2020

As 2019 closes and the watershed year of 2020 comes into view with the increased price of low Sulphur fuel (or installation of scrubbers) that is set to affect the bottom lines and OPEX rates of Ship Owners the world over, it is set to be a busy few years ahead for the various ship recycling destinations. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Is on board fuel blending allowed?

20 December 2019

The fuel oil carriage ban from the International Maritime Organization (IMO) that will come into force on 1 March 2020 has prompted questions regarding the possibility of blending fuel on board ships to achieve compliance. Here, BIMCO offers its view on the regulatory aspects of whether on board blending can be considered compliant.  

Tanker shipping: sky-high freight rates have given way to a profitable winter market supported by the fast-approaching IMO 2020 Sulphur Cap

25 November 2019

BIMCO expects freight rates will once again come under pressure after the end of the high seasonal demand in Q4, as well as the boost from the sulphur cap. The fleet growth of 6.3% in the crude oil tanker market and the 4.8% growth in the oil product fleet will have its consequences on the supply and demand balance.