Prompt bunker availability tight in major regional ports • US fuel oil stocks fall further below five-year average • New barging surcharges come into effect Several suppliers are unable to commit to prompt HSFO380, VLSFO and LSMGO deliveries in Houston…
ENGINE: Americas Bunker Fuel Availability Outlook Read More »
Sanctions cause payment confusion This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercise of a force majeure provision in a contract of affreightment in response to the charterer’s difficulties paying …
A force majeure to be reckoned with Read More »
The deadline for compliance with the IMO’s Energy Efficiency Existing Ship Index (EEXI) is looming. Are charterparties flexible enough for the transition phase? How should parties approach the new time charterparties which they are entering into to cat…
Under the lens – BIMCO’s EEXI transition clause for time charterparties Read More »
Global seaborne trade has grown enormously in the last 25 years, now accounting for roughly 80% of the total volume of global trade each year. Global trade will likely continue to grow in the future, as will the volume of goods transported by sea. At t…
Act Now or Pay Later: The Costs of Climate Inaction for Ports and Shipping Read More »
Representatives of the global shipping industry, supported by governments, have laid out proposals on how a planned global R&D fund can be tailored to support developing economies. Updated proposals submitted to the UN International Maritime Organi…