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BIMCO has submitted a proposal to the International Maritime Organization (IMO) to regulate propulsion power of ships in order to sustain the GHG savings already achieved through slower steaming.
Today's weakness in box shipping might lead to 200 vessels being taken out of service until volumes rise, BIMCO analyst Peter Sand told Fairplay today.
Scrubbers were installed on 399 ships in 2022, a fall of 24% y/y, and currently 13% of bulker, container, and tanker ships have a scrubber installed. Despite the slowing rate of installations, the share of ships with a scrubber is set to increase in coming years as 17% of ships in the shipyards’ order books are expected to have a scrubber installed.
Work has begun on the revision of BIMCO’s Standard Ship Repair Contract, codenamed REPAIRCON.
We have been heard a lot of debate and speculation regarding the commercial viability and attractiveness of ECO ships and fears of a two tier market reflecting ship energy efficiency. As a natural consequence of the obvious uncertainties and in an effort to address these, BIMCO has undertaken a review, the result of which is outlined below.
Over the next ten years, from 2023 to 2032, more than 15,000 ships with deadweight capacity of more than 600 million tonnes are expected to be recycled, more than twice the amount recycled in the previous ten years.
A speaker blog for World Ocean Summit Asia-Pacific by Sabrina Chao, president of BIMCO, published in The Economist Impact, September 2020
The guidelines are based on shared best practices put together by the Vehicle Carrier Safety Forum (VCSF), a consortium of ship operators, insurers and industry experts, whose role is to promote safety on ships that carry vehicles.
In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016.
