Fitch’s Sector Outlook: Negative We maintain a negative sector outlook for global shipping because of the forecast slowdown of global economic growth and a balance of risks skewed to the downside. All shipping segments have been demonstrating more prud…
Under an amended NYPE charter party incorporating the BIMCO non-payment of hire clause, the Club’s charterer Member deducted US$8,015.40 in respect of the vessel’s underperformance. This deduction was made from the 4th hire instalment. Whilst this hire…
Ship owners have turned their attention to the second hand market for dry bulk carriers. In its latest weekly report, shipbroker Banchero Costa said that it was “a pretty busy week in the dry bulk sector. Starting with larger units, BULK HARVEST around…
Ship Owners Snap Up More Bulkers Read More »
The shipping industry is well aware of the fines and penalties imposed by US authorities against vessel owners, operators and officers for alleged bypasses of a vessel’s oily-water-separator (“OWS”), which is required pollution control equipment under …
IMO 2020 Enforcement: Magic Pipe Cases All-Over Again? Read More »
With fleet growth of 3.7%, compared to global container shipping demand growth of only 1%, even blanked sailings have been unable to lift freight rates. Demand drivers and freight rates Container shipping has in the last few months felt the effects of …