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Dominican Republic

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Seasonal Greeting from BIMCO’s President, Sabrina Chao

Dear members, dear BIMCO community Firstly, I hope you and your families are well. When I wrote my Seasonal Greeting to you this time last year, we were still held very much in the tight grip of COVID-19. While 2021 brought many grievances due to the pandemic, 2022 has certainly provided us with dif... Please follow the link to continue reading.

Demand

We forecast that the crude tanker market will see cargo volume growth of between 2.0% and 3.0% in 2023 and between 3.5% and 4.5% in 2024. As average sailing distances are increasing, we estimate tonne miles growth of between 5.0% and 6.0% in 2023, and between 5.5% and 6.5% in 2024. In the product... Please follow the link to continue reading.

Demand

We forecast dry bulk demand to grow by 4.5-5.5% in 2024 and to fall 1-2% in 2025. Cargo volumes are expected to grow by 1.5-2.5% in 2024 and by 0-1% in 2025. For 2024, we have revised our estimates up 1 percentage point due to stronger than expected iron ore shipments to China during the second quar... Please follow the link to continue reading.

New gas tanker form paves the way for revision of ASBATANKVOY

BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) have approved a voyage charter party, ASBAGASVOY, for publication to serve the growing gas tanker industry. Work will now begin to revise ASBATANKVOY, one of the most used tanker charter parties in the world.