Singapore acts swiftly to assist shipowners to comply with their statutory obligations during this coronavirus outbreak.
In light of the preventive measures taken by ports states, making crew change and repatriation difficult, if not impossible, many flag states and administrations are taking a pragmatic approach to statutory certificates and agreements in line with IMO circular 4204, add. 5.
We have increased the cargo demand forecast in our base case scenario and now estimate that crude tanker volumes will increase by between 1% and 2% in both 2023 and 2024. This is an increase of 1 percentage point in 2023. For the product tanker market, we similarly increase our 2023 cargo demand gro... Please follow the link to continue reading.
BIMCO's Shipping Market Overview and Outlook Q1-23 - Container Market
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits.
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Background The revision of the BIMCO IOCD Clause for Time Charter Parties was prompted by the COVID-19 pandemic. The clause is not intended to be a “COVID-19 clause” - it is designed with future epidemics and pandemics in mind. The BIMCO IOCD Clause 2022 is appropriate for outbreaks of diseases on ... Please follow the link to continue reading.
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