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 »
A lack of correction in terms of the dry bulk market during most of January, has led to asset prices retaining their high values. Contrary to past years, when January usually was a “lackluster” month freight-rate wise, this time around was different. A…
Dry Bulk Tonnage Pricing: Finding Value in the Market Read More »
In February 2020, BP announced that it aims to be “net zero across its operations on an absolute basis by 2050 or sooner”. In April 2020, Shell announced “we aim to be a net-zero emissions energy business by 2050 or sooner”. These ambitions relate to t…
Scope 3 emissions: how the freight industry will transition to net zero 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 »