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Japan - Freight tax

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Demand

We estimate that crude tanker demand will increase by 6.5-7.5% in 2024 and 2-3% in 2025. Cargo growth is forecast to be 2-3% in 2024 and 1-2% in 2024. Increased sailing distances due to the Red Sea crisis are expected to lift demand in the first half of 2024, whereas the continued shift of crude sup... Please follow the link to continue reading.

Macro environment

Global economic growth is estimated to have been 3.1% in 2023. The International Monetary Fund (IMF) projects that growth in 2024 and 2025 will end up at 3.1% and 3.2% respectively. The IMF forecasts slower growth for both 2024 and 2025 in the US, China, Japan and India compared to 2023. On the oth... Please follow the link to continue reading.

Sustainability and women in shipping highlighted at IOPC meeting

At the most recent International Oil Pollution Compensation (IOPC) Funds meeting in London, Ban Ki-moon, former United Nations Secretary-General, spoke to representatives, IMO staff and the Funds’ Secretariat about the value of shipping to international trade, climate change and encouraging and empo... Please follow the link to continue reading.

BIMCO COVID 19 weekly report

The BIMCO Maritime Information department informs members on a weekly basis, updates about the COVID-19 in relation to implementation measures imposed by governments for sea transport including for crew change as well as from the United Nation bodies like the International Maritime Organization (IMO... Please follow the link to continue reading.