In the full year of 2020, global container shipping volumes fell by 1.2% compared with 2019, much less than feared even before the pandemic was first declared, and much recovered compared with the 6.8% drop recorded in the first six months of the year….
Container shipping emerges triumphant from a disrupted 2020 Read More »
Bunker fuels continue to be widely available for prompt deliveries in ARA. Bunker congestion has eased in Gibraltar Strait ports as the weather has improved and the forecast looks calmer for the next week. Stronger demand and refinery margins for oil p…
ENGINE: Europe & Africa Bunker Fuel Availability Outlook Read More »
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure. The star…
Who is responsible for the cargo when force majeure is declared? Read More »
Bunker fuels are more readily available in Singapore, Zhoushan and Busan this week. Lead times for stems in Singapore have come down, as the pressure bunker delivery schedules has eased after the Lunar New Year holiday. Singapore’s bunker demand has fu…
ENGINE: East of Suez Bunker Fuel Availability Outlook Read More »
China’s increasing production of paraxylene will reduce imports from South Korea and Japan, putting pressure on freight rates on intra-Asia routes in 2021. Paraxylene is the second-largest organic chemical carried by chemical tankers. In 2020, paraxyle…
China’s self-sufficiency in paraxylene to impact chemical shipping market in 2021 Read More »