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BIMCO has together with the UN World Food Programme (WFP), updated and modernised the WORLDFOOD voyage charter party used by the UN organisation to transport food to emergency areas around the world. The aim was to create a contract that made WFP’s work easier and faster.
Two new contracts will be presented for review at the next Documentary Committee meeting on 6 June 2017 in Rome.
Venezuela’s Challenges: The decline in Venezuelan crude trade to the US is one of the biggest consequences of the economic and political problems faced by the country. Between January and August 2017, crude shipments to the US averaged 0.69 million b/d, down by 175,000 b/d compared to the same period in 2015. The weekly tanker market report by Gibson Shipbrokers.
The three best performing dry bulk terminals in the world are Santander and Bilbao in Spain and Quebec in Canada, according to BIMCO’s 2017 Dry Bulk Terminals Vetting Report.
BIMCO receives a monthly update from the Chamber of Shipping of America (CSA) advising BIMCO of the latest legislative developments affecting international shipping in the US. BIMCO produces a brief based on CSA’s January update so members can have a quick update. The full CSA report is also provided.
Following a seasonal surge in December 2017, the US seaborne export of oil products (materials derived from crude oil) reached the highest annual level ever, in terms of volume and tonne miles demand. An increase in volume, combined with a marginal increase in the average sailing distance, caused the total annual tonne miles demand to surpass the previous high set in 2013.
The IMO International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM Convention) enters into force and a ll ballast water to be discharged on or after 8 September 2017 must be either D-1 or D-2 compliant.
At its meeting in Rome in June 2017, the Documentary Committee agreed that specialist provisions dealing with the mechanics of General Average should be modified to ensure consistency with user requirements and market arrangements.
BIMCO’s Chief Shipping Analyst Peter Sand will moderate the “Dry Bulk Market Outlook: Sustaining Cautious Optimism for Calmer Waters” panel discussion, scheduled for 23 November at 16:00-17:30. Peter Sand will be joined by Burak Cetinok, Head of Research at Arrow Shipbroking Group and Angad Banga, Chief Operating Officer at The Caravel Group.
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