Canada, Quebec, Montreal QUE - Working hours 2010

The Shipping Market in 2010 and Looking Forward

Global economy: Weak recovery sets the scene2010 was a remarkable year for shipping, strengthening the recovery that started with improved overall volumes in the second half of 2009 and ending with concerns in practically all segments. We are now in the early days of 2011 with a global recovery losing momentum as the macroeconomic drivers behind the economic recovery, such as giant stimulus packages, are being phased out and traditional concerns about inflation, deflation and economic overheating are challenging national and international economists.

Dry Bulk Shipping - Lots of newbuildings to come but still not undermining a positive market

The first four months of 2010 saw ups and down for the BDI with the index hovering around 3,000, but May brought along stronger rates particularly to Capesize

IMO’s HNS Convention now closer to ratification

The last convention of the international liability and compensation regime for pollution damage from ships is now closer to ratification with the European Parliament’s consent. The consent is to the draft EU Council Decisions authorising member states to ratify the 2010 Protocol to the International Convention on Liability and Compensation for Damage, in connection with the Carriage of Hazardous and Noxious Substances by Sea, 1996.

Dry Bulk Shipping

Solid demand picture in a stabilized market but a tsunami of ships are expected to be launched in 2010

Towage and Salvage Masterclass Online

Towage & Salvage Masterclass Online is a series of 10 online sessions highlighting the wide range of ocean towage and salvage agreements provided by BIMCO. This course focusses on practical solutions and ways for the parties to allocate risks and obligations.

IMO’s Legal Committee encourages ratification of 2010 HNS Protocol

At last week’s meeting of the Legal Committee of the International Maritime Organization (IMO), states repeated their support for the international liability and compensation regime for damage in connection with the carriage of hazardous and noxious substances by sea.

Greek shipowners investing the most in newbuilding

Greek shipowners are not only the most active nation when it comes to sales and purchases, they are also investing the most in newbuilding contracts. Since 2010, contracts made by owners in Greece total USD 51 billion, consistently dwarfing the likes of Norway and China as buyers.

Tanker Shipping - Few escape routes for the already stressed out tankers – Summer is unlikely to heat freight rates

A fundamentally weak oil demand that is negatively affected by the high oil prices is hampering demand for both crude and product tanker tonnage. The weak demand is set to stay around according to IEA, which projects limited growth in 2011 of 1.5% against the 3.3% rebound growth in 2010.

Container Shipping - Growing volumes but even stronger growth in tonnage

Container rates have been sliding on all the major trading lanes since July 2010, with the exception of a small hiccough round the turn of the year