BIMCO Search Results

Will Somali pirates ramp up operations again?

During 2023 and 2024 we have witnessed several attacks on shipping by Somali pirates. After a windy summer, the monsoon season is now coming to an end which increases the risk of renewed attacks by Somali pirates on merchant ships.

Navigating the Future of Shipping

ITN Business’ programme in collaboration with BIMCO and the UK Chamber of Shipping exploring how innovation and technology are vital in the shipping industry

CONTRACTS

See the latest insight and information about contracts for the global shipping industry

What are the differences between demurrage and detention?

Demurrage forms an integrated part of the laytime provisions in voyage charter parties operating with fixed laytime. Just as voyage freight, the amount of demurrage negotiated reflects the current market conditions and not necessarily the daily cost of the vessel. This means that it is just as impor... Please follow the link to continue reading.