Ships must cut underwater noise or face mandatory regulation

The focus on underwater radiated noise (URN) from shipping has significantly increased over the past few years. As a result, the International Maritime Organization (IMO) has decided to raise awareness of the issue by drawing on lessons learned from the recently updated, non-mandatory IMO Guidelines. These aim to monitor the impact of URN from shipping and assess the efficacy of different mitigation solutions.

Boost in orders for ships below 8,000 TEU drives order book to 17.3% of fleet

In October 2020, the order book for new container ships bottomed out at 8.4% of the combined trading fleet. For ships smaller than 8,000 TEU, the order book bottomed out one month later at 3.7% of the trading fleet, and only accounted for 18.2% of the total container order book. Interest in the smaller segments, however, is bouncing back after months of hibernation.

Second-hand bulk market heading for record year as 279 ships trade hands so far

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

Ship orderbook shrinks to 17 year low as Covid-19 slows contracting

The total orderbook for dry bulk, container and tanker ships has reached its lowest point in 17 years as COVID-19 has massively slowed contracting (-50%) while deliveries of new vessels have proved more resilient (-2%).

Underwater radiated noise from ships - IMO guidelines revised

Focus on underwater radiated noise from shipping has grown significantly over the past few years. Consequently, the International Maritime Organization (IMO) has decided to raise awareness of the subject by issuing updated non-mandatory guidelines with the aim of monitoring the impact and thus ascertaining the efficacy of various mitigation solutions.

BIMCO guidance on COVID-19 implications for ships’ certificates

As the COVID-19 pandemic continues, some ships are experiencing operational challenges, such as shipyards or dry docks closing down. In addition, surveys and audits can in some cases not be conducted because surveyors are unable to attend the ships due to travel restrictions or quarantines.

Container cargo industry guidelines for seed cakes transport to mitigate fire incidents onboard ships

Seed cakes transported in containers continue to provide a risk in terms of causing container fires onboard and BIMCO urges the use of joint-industry guidelines to BIMCO members to improve safety for ship and crew.

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Mexico alert – smuggling of illegal narcotics – risk of ship detention and crew arrest

The International Group of P&I Clubs, International Chamber of Shipping (ICS), BIMCO and InterManager (the “international industry organisations”) draw Members’ attention to the series of recent ship detentions and crew arrests in Mexico and, in the case of the UBC Savannah, the lengthy and continuing detention in custody of the ship’s Master without any formal charges against him, following the discovery of illegal narcotics on board.

BIMCO adopts the industry’s first ship sale and leaseback standard

Sale and leaseback transactions have seen a substantial increase in recent years as an alternative method of ship financing, and BIMCO has adopted a new term sheet which will facilitate the negotiation of sale and leaseback deals and make the process cheaper for parties involved.